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3 months ago by Ashleigh Church

Employee Benefits: Are they?

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When we’re discussing vacancies with our clients, one thing we always ask is what are your company benefits? Time and time again we receive the same answers: “pension scheme” as well as “20 days holiday + bank holidays” – all of which are legal requirements within the UK - so how are these benefits?

 

In today’s competitive hiring market, a generous benefits package is one of the highest sought-after things to active candidates, and a legally required pension isn’t something that is going to sway them to accept a role within your company! Studies have found that candidates will consider the benefits package over increased salary, meaning when employers are looking to hire their next talent, they need to look desirable.

 

A recent study from Benefit News states that maternity/paternity leave, flexible working and professional development are one of the highest desired benefits, with onsite refreshments and gym memberships being one of the least important (but one of the highly marketed…).

 

We’ve included a sneak peak of our BDM, Charlie’s presentation that he’ll be showcasing at the Big Breakfast in October. It shows the most desired benefits, to the most undesired (which coincidently are most offered!).

 

Take a look and think where your current benefits package sits; are you being competitive in the market? Or are you simply offering the same as everyone else?One of our company benefits at CMD is

Elite Tier  Sabbaticals, 4-day weeks, enhanced maternity/paternity pay

Top TierEnhanced holiday allowance, work from home, flexible working

Mid Tier  Market rate salary, discounts on products/services

Bottom Tier: Free tea & coffee, minimum wage, 28 days holiday, ping pong tables and beanbags

 

 

Perkbox, and with a number of avid film fanatics within the workforce, it’s safe to say that the free monthly cinema tickets never go a miss! This is a prime example of a company listening to the workforce, and catering to what they would benefit from.

 

Employers should look at their employees and cater to their needs – if you have an older workforce, there are benefits that can provide for old age? Or a younger workforce may want more benefits that help them to save for the future?  Think about pensions or sick pay, health and dental benefits, childcare vouchers or flexible working – each benefit depends on your company culture and what would be most desired.

 

Next time you’re putting together your job advert and you’re looking to attract the best talent whilst standing out from your competitors, make sure that you’re paying to attention to what your offering, after all, it may be what gets you that dream candidate.

 

If you’re looking for insights into the best way to get your next hire, our Business Development Manager Charlie will be presenting at the Big Breakfast at Cumberwell Golf Club on the 10th October discussing market trends, employee benefits and tips on how to build your team.