If you have any familiarity with the corporate world, you are well aware that you need to provide your employees with the benefits that they expect from you. These days, some of these benefits are provided by every organization which also indicates that prospective employees think of them as obvious.
So if you have just started an organization and hiring employees on a spree, you need to have these benefit policies in place before anything else. Because recruitment has gotten competitive and candidates are likely to 5gauge every factor before they decide on which company to join. Particularly when they have multiple options to choose from.
This blog post is to take you through the benefits every employee expects and wants from his or her organization.
What are the Benefits You Must Provide to Your Employees?
When you are providing benefits to the employees in your organization, you need to ensure you do not miss out on the following.
This almost goes without saying. More than 90% of companies in the IT sector provide this benefit to their employees. This benefit mostly acts as a shield and as a force of security for employees in case they need to procure some type of medical treatment that they cannot afford immediately due to their commitments.
While a partial amount of coverage is satisfactory for many employees, companies have now started to provide full medical expenses coverage too. This can be carried out by forming a tie-up or agreement with renowned healthcare organizations that provide all types of facilities and treatments.
Flexible Spending Accounts and Health Savings Accounts
Flexible spending accounts are similar to health savings accounts with an enabled use. Here, each account type comes with its pros and cons. For example, FSAs are available with almost any health insurance plan but they also come with a stringent clause.
This essentially means that if a candidate claims a certain amount for the calendar year, he or she will not get the entire amount.
The difference with HSAs is that they never expire. They are mostly savings accounts that accumulate over time and that you can any time. Any health plan changes you make do not affect them. The one restriction, however, is that contributions made are tax-free when the candidate is enrolled in a High Deductible Health Plan.
Leaves are a crucial factor every employee looks closely at when he or she signs up for a company. If they are not given their time off, as they should be, it takes them no time to consider a move. This is why several companies have now started a benefits program that gives a sufficient amount of paid leave to their employees.
However, another crucial aspect that needs managing is how and when these employees decide to use these leaves. It is no secret that employees save up leaves and use them collectively to go on a vacation or to celebrate an occasion like a festival, marriage, maternity, etc.
For this very reason, organizations are now categorizing leaves based on these events and allowing companies to take a certain number of days off.
Every candidate will look at what a company is doing to help its employees enhance their skills. While it is true that each individual can learn a significant amount as he or she works, few skills require extensive training and dedication.
As a solution to this conundrum, organizations are now providing their employees to learn these skills by taking online courses whose costs the company would cover. This benefit also helps several employees secure their job at the current company and also plan better for the future.
Many a time, a candidate gets selected for a particular role but he or she will have interests aligned elsewhere or could be a better fit for some other role. Organizations these days are also providing free career counseling programs where an expert counsels candidates on how they can improve their careers.
This program will aim to enhance the personal growth of the employees and will have no direct company interests thereby making it a beneficial program.
Join 91Social to Experience Staggering Growth
At 91Social, we emphasize greatly ensuring all of our team is happy and content with the benefits provided to them. Our leadership goes by the philosophy that as long as we keep our team content, they will continue to deliver as they have.
To know more about the benefits, we provide, you can apply for one of the vacant positions at 91Social and join us.