Top Employee Benefits that Current and Incoming Jobseekers Want
It’s not just about the money anymore.
Maybe it never really was. But now — more than ever — employees and job seekers are looking for more meaningful reasons to work for a company.
It’s no longer just what puts food on the table or what helps make ends meet. Make no mistake about it: the salary offer or contract price is still important to seal the deal in recruitment.
However, we have approached that point wherein what someone earns is no longer the only or the primary consideration.
Millennials and future iGen applicants will no longer just look for a higher pay when deciding on where to apply. What are they looking for? We’ve identified four common themes in what benefits are in demand among the younger generation job seekers.
The Benefit of Telecommuting
What job seekers value nowadays is the most precious commodity: time. Most precious because it is fleeting and non-renewable.
The new millennium workers crave for flexibility and control or authority over their time.
This is why many companies, especially startups, have switched to output or results-based scheme for measuring accomplishment, as opposed to attendance, punctuality or other metrics that have to do with rendering services within office premises.
And what’s great about this innovative HR principle is that it actually increases productivity among employees. Having control over their time and being measured in terms of output have made employees more accomplished and productive.
What’s even more amazing is that a recent study showed that employees who had the option to work from home, near home, or out of the office, felt more engaged about their work than those who had to show up for work within a stringent schedule five days a week.
The workforce is pushing companies to do away — though maybe not completely — with the long-established structures and policies are time-restrictive and not geared towards an employee harnessing his skills and delivering results.
So working remotely is definitely the wave of the future for HR and for enterprises. It will dominate the corporate design and policies of most companies — even the moguls and. It has created a wave of impact in the HR recruitment landscape so far, with job seekers openly asking about paid leave and holidays allowed. It just goes to show you how much they value their time.
And from the looks of it, it will definitely stay that way for a long, long time, if not permanently.
The Benefit of Free Food and Beverages
Don’t laugh, but job seekers do enjoy the luxury of having free munchies at work. Ever since I saw the movie The Internship starring Vince Vaughn and Owen Wilson five years ago, I knew that free food in the office will become the norm rather than the exception.
Now more and more companies have resorted to offering free snacks or company lunches as a way to entice more applicants and appease current employees. It beautifully hits two birds with one stone as you’re both satisfying an employee’s simple desire and building team camaraderie, too.
Even free-flowing coffee is a welcome bonus. The new generation employees cannot live without coffee, that’s for sure. So having a free hot cup of espresso to look forward to early at work perks up your day. Such a cheap and simple yet very effective benefit to offer.
The Benefit of Wearing Whatever
Yes, yes, yes to a more relaxed (or sometimes non-existent) dress code!
None of those stiff looking pants and ultra crisp white shirts that restrict movement and make you feel all serious and no fun.
More companies have casual dress codes to encourage employees to come as they are. It’s not so much as a form of self-expression, but rather about giving them the convenience and comfort of wearing whatever feels natural to them.
It’s also less expensive for them this way, too. Employees can wear their everyday clothes, provided that they’re still socially and culturally appropriate, and not ratty or unhygienic.
What’s great is that you’re also sending the message as an organization that you aren’t really influenced so much by Western culture, which requires power-dressing and business suits, looking all Wall Street-y.
It also enables employees to be more focused on work if they don’t have to worry so much in the morning about what they have to wear. Less effort
and brain cells used for less necessary activities, am I right?
The Benefit of Health and Wellness
The trend that I’m loving the most is that of Health and Wellness. I love it so much that both older and younger generations are becoming much more health conscious.
And because of this higher consciousness with being healthy and fit, we are slowly defying time by not aging so much. And we are also pushing our boundaries as to what we can do physically.
You’ll get to see social media posts of grannies lifting weights, or even differently-abled people engaging in sports and physical activities.
I mean, c’mon, we are definitely progressing and leveling up as a race! Just look at Chuando Tan, a 51-year old photographer-turned-model who, day by day, continues to defy the law of aging. The term “aging gracefully” doesn’t even apply to him because it looks like he’s not aging at all!
Personally, I’m amazed by this, and this is why I can understand how work-life balance and health and fitness are such important issues that job seekers look for when applying for work.
And to date, companies are implementing these types of stress-reduction programs that companies. Nowadays, companies offer a massage, yoga classes, and meditation exercises. They also refer you to a very helpful, accommodating and inspiring wellness coaches or counselors who can work with you during work hours.
Social or societal health and well-being are also highly important. This is why nowadays, more and more companies are giving their employees paid time off to volunteer. I really love this idea because you are inculcating in the hearts and minds of your employees that they are not the center of the universe and must be grateful for what they have.
Gearing your company towards providing opportunities for health, wellness, and work-life balance will definitely attract a lot of applicants and high-level employees. Just make sure that you follow-through with your offer and not just let these be slogans on a town-hall meeting or words on your company website.
What job seekers are looking for has definitely evolved with the changing of times, naturally. So if you are unwilling to embrace your changes, then prepare for a higher rate of attrition and lower number of new applicants.
