{"id":2378,"date":"2021-05-29T10:50:36","date_gmt":"2021-05-29T10:50:36","guid":{"rendered":"https:\/\/michaelleander.me\/?p=2378"},"modified":"2021-10-13T15:16:19","modified_gmt":"2021-10-13T15:16:19","slug":"offering-competitive-benefits-package-to-attract-top-talents","status":"publish","type":"post","link":"https:\/\/michaelleander.me\/offering-competitive-benefits-package-to-attract-top-talents\/","title":{"rendered":"How Offering A Competitive Benefits Package Can Attract And Retain Top Talents"},"content":{"rendered":"\n
If there was one adjective you could use to define the job market, competitive would fit the bill. <\/p>\n\n\n\n
Indeed, the ratio of the number of candidates to the number of jobs available is very high and for a candidate looking for a job, finding the ideal job is not an easy task. <\/p>\n\n\n\n
However, the same applies to organizations as well. <\/p>\n\n\n\n
While there might be a lot of candidates applying for a particular job posting, the number of candidates that are actually suitable and have the required skills are surprisingly low, and attracting these candidates can be quite a challenge. <\/p>\n\n\n\n
What is even more important and unfortunately even more of a challenge is retaining them. <\/p>\n\n\n\n
Every time a talented employee leaves an organization, it can lead to quite a significant setback. <\/p>\n\n\n\n
The most effective way of attracting and retaining top talent is to offer an excellent benefits package. <\/p>\n\n\n\n
One, that at the very least, matches the benefits package offered by the competition. <\/p>\n\n\n\n
Here are a few ways in which offering a competitive benefits package can help you attract and retain top talent.<\/p>\n\n\n\n
<\/p>\n\n\n\n
Offering benefits packages to your current and future employees can help you differentiate yourself from your competitors. This is especially true for small businesses. <\/p>\n\n\n\n
Most small businesses do not offer any benefits package to their employees. As a result, offering benefits to your employees can help you stand out. It shows that you appreciate and value your employees<\/a>. <\/p>\n\n\n\n A lot of candidates often opt for jobs that offer better benefits over jobs that offer higher compensation. <\/p>\n\n\n\n This is because benefits like insurance coverage, retirement benefits, loan assistance, and scholarships for children often increase the total compensation that the employees receive.<\/p>\n\n\n\n Furthermore, benefits like flexible and smart working allow<\/a> for better work-life and personal-life balance, a factor that is very important to today\u2019s generation. <\/p>\n\n\n\n Offering such benefits not only makes your organization a more lucrative workplace but also increases employee satisfaction. This improves your chances of retaining top talent, in addition to attracting them to your firm. <\/p>\n\n\n\n Various benefits are often offered to employees as part of the benefits package, but certain benefits are more lucrative than others. <\/p>\n\n\n\n Here are some of the most sought-after benefits by the top talent.<\/p>\n\n\n\n Insurance coverage is a benefit that a lot of candidates look for. With increasing medical costs, a good health insurance plan is an attractive benefit and one that can be a deciding factor. <\/p>\n\n\n\n However, offering medical and dental insurance can turn out to be quite expensive for organizations, especially for small businesses. Yet, there are some ways in which the expenses can be controlled. <\/p>\n\n\n\n A lot of businesses offer health insurance to their employees in which the organization only covers a part of the premium, while the remaining amount of the premium is covered by the employees. <\/p>\n\n\n\nMost Sought After Benefits<\/h2>\n\n\n\n
Insurance Coverage<\/h3>\n\n\n\n