In the past most candidates cared only about their salary when negotiating their compensation package. The more money they received for a job offer, the better. Within the last decade other benefits have moved to the forefront of a compensation package such as medical, vacation and other perks. We’ve discussed many of those demands in previous posts here and here. And it’s no wonder, like much of the employment climate, that these benefits or perk demands are changing. Today, we wanted to highlight the perks as it relates to this year and the coming years.
Gallup published a report recently named, “State of the American Workplace,” which is a follow-up report from the one published in 2013. It used “data collected from more than 195,600 U.S. employees via the Gallup Panel and Gallup Daily tracking in 2015 and 2016, more than 31 million respondents through Gallup’s Q12 Client Database, and insight from advising leading Fortune 1000 companies.” Click for the full report.
Within this report, they isolated what job seekers are wanting and what would make them switch jobs. Finding the right candidate to fill all positions, including those hard- to-find positions comes down to understanding what employees want. From the report, Statista featured “The Perks of Persuasion: The Benefits Employees Change Jobs for.” See below for details.
You will find more statistics at Statista
In 2013, the hottest trend to capitalize on benefits was “employee engagement.” According to the previous report. “Engaged employees with a lot of flextime had 44% higher wellbeing than actively disengaged employees with very little to no flextime.” This year’s report has a staggering statistic of “70% of U.S. Workers Not Engaged at Work.” That’s an alarming statistic which with the impact of the Millennial market, no doubts needs to change. Much of these findings say that no matter how much you spend on benefits, to get the most out of your employees, companies much find a way to engage and improve relations. The existing benefits have more value to employees if they feel engaged with their company.
Still, it’s interesting and not surprising that with the rising cost of health care, that 61% of employees would consider switching jobs if the health care benefits were great. Whatever your plans are for the year, be sure to take into account this vital benefits trend and information. Knowing this, and potentially altering your benefits slightly or drastically could truly help those who are struggling with finding top talent.
If you’re having challenges finding the right benefits mix to entice exceptional talent, give us a call. Our experts have over twenty years’ experience working with companies to find the best talent and have the ability to improve your recruiting results.
ABOUT THE AUTHOR, Ingrid Moore
Ingrid Moore is the President and Owner of Corporate Resources of Illinois, an employment & staffing agency with over 20+years’ experience located in Schaumburg, IL. Ingrid and her team assist employers with finding the right hire for their business. For more info, follow us on our LinkedIn Company Page, or follow us Corporate Resources of Illinois‘s Google+ page.