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Employee benefits are an important part of any kind of work, and also, they can make a substantial difference in a job candidate’s decision to approve a job offer. In today’s competitive job market, job seekers are looking for the best possible benefits packages. According to a recent survey conducted by Glassdoor, 57% of job seekers stated that benefits and perks are among their top considerations before accepting a job offer.
In this article, we will discuss the three most valued employee benefits that job seekers look for in an employer’s benefits package.
Health insurance is one of the most desirable employee benefits that job seekers look for in a job package. In fact, health insurance is so important that it can make or break a job offer. According to the Kaiser Family Foundation, around 49% of people get their health insurance through their employer. This means that job seekers value health insurance more than any other benefit.
The cost of healthcare has risen dramatically in recent years, making health insurance an essential part of an employee’s benefits package. Providing comprehensive health insurance benefits to employees not only helps them stay healthy but also ensures that they have access to affordable healthcare when they need it.
Employers can provide health insurance benefits in several ways. One common method is to offer a traditional health insurance plan, where the employer and employee split the premium cost. Another option is a high-deductible health plan (HDHP), which has lower monthly premiums but higher out-of-pocket costs. Employers can also offer health savings accounts (HSAs) or flexible spending accounts (FSAs) to help employees save for healthcare expenses. Here are some of the benefits of health insurance coverage for employees.
The primary benefit of health insurance for employees is access to affordable healthcare. With health insurance coverage, employees can access preventative care, such as check-ups, immunizations, and screenings, without having to worry about the high cost of healthcare services. This can help employees maintain their health and catch any issues early on before they become more serious and costly to treat.
In addition to access to affordable healthcare, health insurance also provides financial protection for employees. With health insurance coverage, employees can avoid the high costs of healthcare services, which can be financially devastating without insurance coverage. Health insurance can protect employees from financial hardship caused by unexpected medical expenses.
Having health insurance coverage can provide employees with peace of mind. They know that they can access affordable healthcare services if they need them and do not have to worry about the financial burden of unexpected medical expenses. This can help employees focus on their work and overall well-being without the stress and worry of healthcare costs.
Work-life balance is another employee benefit that job seekers value highly. In today’s fast-paced work environment, employees want to balance their work and personal life. They seek a job that allows them to work flexible hours, telecommute, or work part-time. They want to have time for family, hobbies, and self-care.
Providing work-life balance benefits to employees is not only good for their well-being but also for the employer’s bottom line. Employees who have a better work-life balance tend to be more productive and engaged at work. They are also less likely to suffer from burnout and turnover, which can be costly to the employer.
Employers can provide work-life balance benefits in several ways. One common method is to offer flexible hours, where employees can choose their work schedule within a set range of hours. Another option is to allow telecommuting, where employees can work from home or other locations. Employers can also offer paid time off, including vacation days, sick days, and personal days.
Student loan assistance is a relatively new employee benefit that has become increasingly popular in recent years. According to a recent survey, around 86% of job seekers would consider a lower paying job that offered student loan assistance over a higher paying job that did not offer such assistance.
Student loan debt is a significant burden for many young professionals. According to the Federal Reserve, the total student loan debt in the United States is over $1.7 trillion. Providing student loan assistance benefits to employees can help alleviate this burden and attract top talent.
Employers can provide student loan assistance benefits in several ways. One common method is to offer student loan repayment assistance, where the employer makes monthly payments toward the employee’s student loan debt. Another option is to offer tuition reimbursement, where the employer pays for a portion of the employee’s continuing education.
In addition to the top three most valued employee benefits discussed above, job seekers also value other benefits such as dental and vision insurance, paid time off, and mental health benefits. We will discuss these in detail below:
Dental and vision insurance is an essential benefit that job seekers look for in an employer’s benefits packages. These benefits can help employees save money on routine dental and vision care, such as check-ups and eyeglasses.
Here are some of the benefits of dental and vision insurance benefits for employees:
Paid time off is another essential benefit that employees value. It provides them with the opportunity to take time off work for vacations, illness, or personal reasons. Some employers offer a combination of vacation days, sick days, and personal days, while others provide a set number of paid time off days.
Paid time off (PTO) is a highly valued employee benefit that gives employees the chance to take time off work for various reasons without losing income. Here are some of the benefits of PTO for employees.
Mental health benefits are also becoming increasingly important to job seekers. According to a recent study, over 40% of employees reported that their job negatively impacted their mental health. Providing mental health benefits, such as counseling services or an Employee Assistance Program (EAP), can help employees manage stress and mental health issues.
Here are some of the benefits of mental health benefits for employees.
In today’s competitive job market, employee benefits are critical to attracting and retaining top talent. The most desirable employee benefits that job seekers look for in a job package include health insurance, work-life balance, and student loan assistance.
These benefits can make a significant difference in a job seeker’s decision to accept a job offer. Employers can also offer other sought-after employee benefits, such as dental and vision insurance, paid time off, and mental health benefits, to attract and retain top talent. By providing a comprehensive benefits package, employers can create a positive work environment and improve employee satisfaction and retention.
Todd Taylor, oversees most of the marketing and client administration for the agency with help of an incredible team.
Todd is a seasoned benefits insurance broker with over 35 years of industry experience. As the Founder and CEO of Taylor Benefits Insurance Agency, Inc., He provides strategic consultations and high-quality support to ensure his clients’ competitive position in the market.
Todd Taylor with Taylor Benefits gives our small business the kind of personal service we need. Insurance benefits are important to our employees and Todd helps us find a balance between benefits and value. Todd responds immediately to my phone calls & e-mails. He has even gotten in touch with me on a Sunday when we were in need of coverage answers immediately. We are very pleased with the hands-on service Todd and his staff provide.”
-Ken and Linda Orvick, Orvick Management Group, Inc.
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