As workers continue to be well-positioned in a strong economy with low unemployment, employers are strategizing about how best to recruit and retain a strong, stable workforce.
Many employers will be tempted to use gimmicks that were first made popular years ago among trendy tech firms– think ping pong tables and free snacks. But in reality, most workers are looking for a total rewards package that prominently features more substantive and meaningful benefits.
According to an article in Harvard Business Review, most workers give the greatest consideration to what we would think of as core health and welfare benefits – medical, dental and vision coverage. But beyond those basic benefits other offerings that speak to workers include
Whatever strategies an employer chooses to use to make their total rewards offering attractive, making sure to invest in total rewards communications is critical. Employees who don’t fully understand their total compensation are far less likely to appreciate the efforts being made by their employer.
Curious about what perk is considered the least attractive to employees? According to the study described in HBR that would be team bonding events. So the advice to HR would seem to be to double down on workplace flexibility and tuition reimbursement and cut back on the trust falls.