Flexible working hours, extra vacation days, and wellness benefits. As competition for new talent intensifies, job benefits play an increasingly significant role in attracting new employees. But what benefits are most sought after today? And how can you, as a manager, create a work environment that attracts talent – and retains them?
In order to stand out in today's job market, it's becoming more crucial for employers to understand what attracts new employees. Job benefits play a vital role here as they can be decisive in capturing job seekers' attention. By offering a broad and well-designed benefits package, you as an employer can strengthen your appeal and position in the job market. However, to truly make a difference, you need to understand what employees want. So, let's take a closer look at the benefits currently topping the wish list.
The Most Sought-After Job Benefits in 2024
In a recent survey (in Swedish) where 35,000 participants listed the most appreciated job benefits, work hours and leave topped the list. This aligns with the trend of recent years where more employees seek greater flexibility in their work hours.
Also high on the list are wellness benefits, healthcare, and insurance – benefits that signal the company's care for its employees' health and financial security. Additionally, a majority of survey participants indicated they would change employers if offered a position with similar pay and conditions but better benefits.
In another survey (in Swedish) where employees from Sweden's 150 largest companies ranked the most important criteria for choosing an employer, benefits, along with an attractive salary, took the top spot. In essence, as an employer, it might be wise to periodically review your company's benefits package. Does it match, or even exceed, what competitors offer?
Randstad has created a guide with practical tips on how to develop your company's benefits package. Read the guide (in Swedish) here!
Top 8 Job Benefits in 2024
- Work hours and leave
- Pension
- Wellness benefits
- Healthcare
- Insurance
- "Work-life balance" benefits
- Transport
- Discount codes for private consumption
Source: Benify
Retaining Your Valuable New Hires – Five Practical Tips
Knowing which job benefits are most sought after is a first step in attracting the right talents. However, retaining them requires more than just a generous benefits package. To ensure that employees enjoy their work in the long run, as an employer, you also need to actively work on other essential factors such as the work environment, corporate culture, and development opportunities.
Here are some practical tips for creating a workplace where new hires want to stay long term.
- Communicate your why
Today, employees expect more than just good employment conditions. To stand out as an attractive employer, you need to convey to employees why you do what you do. What is the higher purpose, and why should your employees continue choosing you as their employer? - Inform about development opportunities
Employees who are aware of how they can develop within the company are undoubtedly those who stay the longest. Showing new talents the opportunities available and the potential you see in them is crucial. - Show appreciation!
Encouraging words or positive feedback make a huge difference in your employees' motivation. Ensure that feedback is specific; if it is too general, it can be vague and difficult for the employees to know exactly what was good. - Create an inclusive work environment
To make new hires feel welcome and comfortable in the workplace, it is crucial to create an environment where everyone feels included. Promoting diversity and allowing space for different perspectives and backgrounds is key to building a strong corporate culture where employees thrive and want to stay.
Reading tip: In Lernia's checklist (in Swedish) you get practical tips on how to create an inclusive work environment. - Offer a balance between work and leisure
Today, most employees seek a healthy balance between work and personal life. Providing flexible work hours or options for remote work can make a significant difference. When employees have the opportunity for a healthier balance between work and personal life, both their motivation and engagement increase, making them more likely to stay with the company long term.
Is it time to spend more time on your employees and less on administration?
Are you a manager or HR professional struggling to keep up with everything during the workday? With the right digital tools, there are several smart ways to automate cumbersome and time-consuming processes. Our HR system, Flex HRM Employee, provides you with a complete digital toolbox for both practical and strategic HR work throughout the employee journey. This way, you can spend less time on administration and more time taking care of your staff. Contact us if you want to learn more!
