Which Benefits Do Employees Really Want?

Every employee wants a comprehensive benefits package, but the needs of one group may differ from the desires of another. I know from my experience helping small businesses select the right benefits for their staff members that employees seek a wide range of offerings. Therefore, employers should customize or provide flexible benefits packages to ensure that employees have several choices. Once you understand which benefits your staff members find most appealing, you can attract the best talent and retain them longer.

Check out the following 10 highly-desired benefits, also provided by Glassdoor 2020 top employers. Consider these offerings as you determine which packages you can offer that can excite and inspire staff as well as stimulate top talent.

1. Positive Working Environment. Job satisfaction/security, fixed paydays and supportive management are some of the top factors that motivate employees to stay in an organization. A positive working culture is one in which staff members are encouraged to share ideas and individual opinions.

2. Advancement Within the Company. Employees want to learn and grow in their careers. They stay when they’re paid well, mentored, promoted, appreciated, valued, empowered and trusted. They want their employers to respect their efforts and recognize their hard work. Your staff members want opportunities where they know that every working hour is a brick that builds their future. Training and career development programs can also help an employee to grow within an organization.

3. Flexible Working Benefits. Flexible scheduling and telecommuting provide employees with more control over their schedules. This encourages work-life balance and can result in higher productivity and better employee satisfaction.

4. Paid Leave. Taking a vacation has several personal benefits, such as reducing stress and healthcare costs, and improving relationships. Paid leave for new parents is among the most popular benefits. It lowers the incidence of maternal depression and promotes infant health. Paid time off for vacation, sickness and personal reasons increases organizational commitment and overall job satisfaction.

5. Bonuses or Incentives. Reward packages in the form of performance bonuses and referral incentives are great ways to recognize and appreciate the work of your staff members. Employees feel motivated when they’re provided meaningful work and their contributions are acknowledged toward the growth of the organization. While every employee loves a salary increase and promotion, other benefits can also allow them to feel acknowledged and appreciated.

6. Transportation or Free On-Site Parking. This perk can translate into substantial cost savings for transportation, especially in metropolitan areas where parking is limited, and thus, more expensive. Some employers might contribute to a monthly subway card, while others can provide free parking. The right solution for you depends on your location and your staff members' needs.

7. Better Work-Life Balance. As employees work both at the office and in their personal lives to pursue their goals and align their values and experiences, they’re looking for employers to help them manage these new work-life responsibilities. Be there for them as they strive to achieve this delicate balance.

8. Retirement Savings Plans. This benefit can lead to increased employee retention and more efficient workers. Comprehensive retirement plans allow employees to deduct a portion of their pre-tax salary and put it into a fund for their retirement, but other retirement benefits are also coveted -- particularly the pension plans that some employers still offer.

9. Health Insurance. Health insurance is one of the most desirable benefits. It includes certain types of health care coverage to employees and dependents, and may also include such options as dental, vision, life insurance and more. Most employers are required to offer at least some type of health insurance, but your organization doesn't have to stop at providing the bare minimum. Find out which perks your staff members are seeking so you can talk with your health insurance provider about customizing your programs.

10.  Meals and Drinks. Many large- and small-scale companies provide free breakfast, lunch or dinner. Offering snacks and drinks, either free or at wholesale prices, and somewhere to enjoy them, is a seemingly small benefit, but one that employees feel strongly about. With access to healthy choices, employees will leave for breaks and meals less frequently, resulting in less time spent away from work and greater daily productivity.

Companies striving to hire and retain the right workers should consider reviewing their benefit offerings to ensure that their options are created in a way that allow the best staffers to stay on board.