How to Ensure Your Employee Benefits are Relevant - 6 Examples - Zupnick Associates

(by Elton Mwangi)

Judy is a nurse, and she has two kids. Her neighbor Jill will occasionally look after the girls when Judy works the night shift. But when Jill is unavailable, she has to pay for a sitter.

The day shift Is much easier on Judy since the kids are in school, and the sitter looks after them for a few hours. Her childcare cost comes to around $1,500 per month. That’s a pretty penny for a nurse who is yet to be registered.

Judy’s colleagues, also parents, go through the same hustle. What does this tell you?

  • Her hospital does not provide perks that meet the needs of its employees (relevant benefits).
  • Organizations need to pay attention to where the Great Resignation is going, and that workplace dynamics are shifting.

Let’s learn from six professions what it means to offer relevant employee benefits. 

Teachers

Teachers are entitled to various benefits, including medical insurance, dental insurance, vision insurance, paid leave, sick days, teaching grants, and summer vacation.

Many teachers have low salaries. For instance, the average teacher’s salary per year in Mississippi is $45,574. This might not support a teacher who wants to buy a home and start a family. Therefore, educational institutions should offer transformative employee benefits like great bonuses (ideally, 15-20% of base pay) and home purchase programs.

Also, offer a college reimbursement program since many teachers advance their education to increase their salaries. And if you want to be more relevant, let some teachers work from home. They can teach via Zoom because that’s an option now that the pandemic has been a great teacher.

Truck Drivers

American Trucking estimates a shortage of 80,000 truck drivers in the US. So, truck driving companies should attract and retain top talent with superb benefit programs.

Truck driving is an exhausting career. In fact, the profession was rated one of the most stressful jobs by CareerCast in 2019. Therefore, great lifestyle benefits can make the job more exciting. Fleet amenities like satellite radio/TV and kitchen appliances provide extra comfort.

Be like Amazon and Airbnb and let drivers bring their pets to work. The job can be lonely, and allowing them to have a canine can make the work less stressful.

There’s a high prevalence of heart disease, sleep apnea, back pain, obesity, diabetes, depression, impotence, and other serious health problems in truck driving. That’s why comprehensive health insurance would be an excellent benefit for them.

 

Healthcare Workers

Healthcare workers operate in an industry demanding long working hours and high-level expertise, so work/life balance is important. Competitive healthcare institutions will allow nurses to design their schedules, medical transcriptionists to work remotely, and clinicians to have flexible shifts.

Child care is a worthwhile perk as parent employees will normally incur high childcare costs. While you are at it, throw in career development opportunities to your array of benefit options.

What’s more, healthcare workers know first-hand the cost of healthcare and the importance of good health insurance benefits. Cover them and their loved ones. Go beyond the norm and cover the non-married couples too to improve job satisfaction.

 

Factory Workers

The median salary of a factory worker in the US is $31,834. Due to the low salary, manufacturing facilities should offer financial benefits such as shopping vouchers, staff discounts, free products, and bonuses.

Moreover, disability insurance is critical for factories, as injured workers will need hospital bills to be paid and get paid time off work until they recover. This is in addition to a safe workplace.

About 33% of factory workers state that career advancement opportunities are a top driving factor during job hunting. So, create robust internal promotion structures and educational opportunities for your factory employees.

 

Administration Workers

Research shows that 76% of administrative employees are women. This means that maternity leave, child care stipends, paid parental leave, and fertility programs would make for an excellent employee benefits package.

Administrative employees also want to work remotely. Most administrative tasks don’t need to be performed in the office, and companies that want to attract top talent should offer telecommuting as a benefit.

The poverty rate among women over 65 years old is twice that of men the same age. That being the case, companies should offer attractive retirement plans to administrative workers.

 

Hospitality Employees

Hotels and resorts offer expensive food and beverages prepared by some of the world’s best chefs. Good employers will provide these products free as part of their benefit offerings.

It’s expensive to travel, and hospitality employees have one thing in common; wanderlust. Offer them discounted rooms, half-priced air tickets, and other deals to inspire them to live their dreams. Also, provide sufficient vacation days and maternity leave.

This industry is synonymous with generous tips. So, companies should encourage guests to tip the staff or include service fees into the bills that go to the employees.

 

Bottom-line

Whatever business you’re in, put employee benefits top of mind because employees want companies that put their needs first. And what better way to show you care about your staff’s needs and goals than with perks?

Analyze your workforce’s needs, determine the best benefits that will meet those needs, then ask your broker to create the best benefits package for your team. That’s employee retention 101!

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