At first glance -- and probably second and third as well -- the title of this blog seems set up as self-evident tautology: employee benefits are so important while recruiting, because candidates find them important. Next up, we’ll be telling you that fire is pretty hot water is rather wet!
However, we promise not to spend the next few paragraphs reminding you of something that you already know as well as we do (i.e. that candidates want employee benefits). Rather, we want to highlight something that is somewhat unobvious, but nevertheless important: why employee benefits are so important to new hires.
In other words, there are psychological factors at work here, and understanding them could help you substantially improve your recruitment efforts by reducing the time (and hence money) it takes you to find great talent; especially if you’re competing with large, deep-pocketed enterprises.
So with the above in mind, below we highlight the 3 reasons why employee benefits are so important – on a symbolic level -- while recruiting:
Offering Employee Benefits Demonstrates Care
Offering employee benefits is a strong, clear demonstration to new candidates that you care about their health and well-being, and those of their family members. The importance of this message cannot be underestimated, and in fact is arguably more influential than salary numbers.
In other words, offering a starting salary of $50,000 with no benefits can be perceived by the majority of candidates as less attractive and impressive than offering a starting salary of $40,000 that is supported by a strong, competitive benefits package. This doesn’t mean that the numbers don’t matter or that new hires won’t “do the math” (because they will). But they see benefits as being worth more than just the cash value.
Offering Employee Benefits Demonstrates Stability
Among other things, new hires are looking for stability – because they don’t want to be looking for another job within weeks or months, any more than you want to be looking for replacements in the foreseeable future.
Offering employee benefits sends a clear message that you have a dedicated HR function within your business, which in turn speaks to your business’s maturity and stability. Indeed, many early-stage organizations and start-ups don’t offer employee benefits, because they simply don’t have the systems or personnel in place to manage them.
Offering Employee Benefits Demonstrates Family-Focus
Many new hires are looking for clues and signals that an employer is family-friendly, and has the capacity to understand conversations that start with “I need a favor, because a family member of mine…”. Offering employee benefits doesn’t just send this signal, but it proclaims it loud and clear. Because as much as employees like their jobs, they love their families!
The Bottom Line
To learn more about cost-effectively offering your new and current employees a suite of in-demand employee benefits – yet in a way that is surprisingly cost-effective and easy to administrate – contact the Connected Benefits team today. Your consultation, just like our acclaimed online solution, is free.
If you're interested in recruiting top talent, the contents of your benefits package matter. Download our FREE eBook to read more: