You’re ready to hire at least one new employee, but so far your job posting hasn’t attracted many quality candidates. This is the opposite of what you expected because the job is interesting and your company is a great place to work.
While not the most obvious issue, your benefits package might be the problem. Offerings like subpar health insurance and minimal paid time off will turn the best and brightest candidates away. Sure, a benefits package shouldn’t be the reason a candidate applies for a job, but if given the choice between applying for an opening at your company and a competitor with better benefits, you probably won’t win.
Here’s some advice to make some much-needed changes so you’ll be inundated with resumes in no time at all.
3 Tips to Improve Your Benefits Package
Set a Budget
Offering better benefits is probably going to cost more money than you’re currently spending. Be realistic about these enhancements by budgeting how much you can afford. This will allow you to know exactly where you stand so you can choose benefit upgrades accordingly. It’s important to take this step first so you don’t spend time focusing on flashy benefits you can’t actually afford.
If it’s been a while since you last updated your benefits package, you’ll first want to check with the Department of Labor and your state to make sure you’re providing all benefits required by law. After that, do some research to see what benefits your competitors are providing. This can help you better understand what your ideal candidate base is seeking so you can adjust accordingly.
Reaching out to your employees is quite possibly the best — and easiest — way to learn what benefits potential applicants want. Create an anonymous survey requesting feedback on your existing offerings to find out if you should eliminate any in favor of something more desirable. You’ll also want to list the benefits you’ve determined you can afford — that your research confirmed your competitors are offering — and ask employees to rank them in order of interest.
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