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Why Providing Employee Perks is More Important Than Ever Before

Every HR professional knows how difficult it is to attract and retain top talent . And one of the reasons why employees switch jobs is because they are not engaged with a company’s culture or are seeking a sense of belonging elsewhere. So how do HR professionals retain the top talent in their company and continue attracting a wide pool of talent?

One can say a considerable compensation will work. And for many companies, employee perks are a big part of compensation packages. The following blog discusses why employee perks are essential and how they can benefit companies.

Why are Employee Perks Important?

Candidates are selective of the jobs they apply for and the companies they work in. The pandemic has especially changed the needs and demands of employees. Organizations now strive to be more flexible and supportive of their employees. And this is where employee perks play a critical role.

Companies looking to upscale and progress ahead are always searching for top talent. However, talented candidates want to work for a company that values their employees. And the super-competitive business landscape means companies can simply not rely on good salary packages to attract candidates. Instead, extra-added employee perks can be a game-changer for companies and allow them to stand out from the crowd.

External challenges, such as economic turmoil in the country, can affect everyone in the office. The COVID-19 pandemic, in particular, has proven to be difficult for everyone and continues to affect everyone. Accordingly, companies need to showcase that they cares about the well-being and health of their employees. HR professionals can testify to it by providing extra perks, like health insurance programs and extended sick days.

Perks, such as bonuses at the end of the month, can motivate employees to work better within their capacities. Employee benefits show that the company recognizes and appreciates the efforts of its employees. When the HR department introduces perks based on performance, employees would be motivated to do their best and attain those benefits.

A company's reputation speaks volumes about its culture in the market. Companies with poor online and offline reputations are less likely to attract top talent. However, companies can improve their reputation by showcasing their values and perks offered to the employees. Young talent is likely to gravitate towards companies that recognize the efforts of their employees.

Examples of Employee Perks that Companies can Provide

There are various perks and benefits that a company can introduce for its employees. Some of these are as follows:

• Opportunities for remote work and flexible working hours
• Healthcare program
• Paid family leave
• Student loan assistance, especially for young interns
• Vouchers and discounts for partner companies, such as restaurants
• Insurance policy for the employee and their family

Conclusion

So why are employee benefits so imperative for companies? The answer is simple - top talent looks for employee benefits in a company. These perks can help retain good employees, attract fresh graduates with better skills, enhance the company's reputation, and maintain the morale of the existing workforce. Looking for support in curating the perfect employee benefits program? Then, Passport Unlimited can help! Passport Unlimited connects businesses and customers , offering a wide collection of national and international incentives.