04.11.2024
Want to Attract the Best? You Need the Best Offer
In a competitive job market, attracting top-tier talent is no longer simply about the salary. Potential employees are increasingly looking at the full range of benefits when deciding where to move.
It’s something I often get asked about by clients and, the truth is, to remain competitive you need to stay ahead of the game. In a rapidly changing landscape, to attract the best, you need to offer the best. So, what benefits are shaping recruitment, and what do we expect to see in 2025?
Current Trends
Most companies already offer a host of enticing benefits in a bid to attract and retain great people. Often seen as ‘perks’, these ‘extras’ make a significant difference when someone is deciding their future.
- Four-day Working Week: Many companies have increased working hours but reduced working days to help employees achieve a better work-life balance.
- Hybrid Working: With a bias toward working from home, hybrid working arrangements have become a standard offering, giving people the flexibility to manage their time.
- Flexible Hours: Employees are increasingly able to tailor their work schedules to fit their individual needs, allowing for a more dynamic environment.
- Maternity, Paternity, IVF, Adoption, and Foster Leave: Supporting employees with enhanced benefits during major life changes has become a priority for many companies.
- Private Healthcare: Going beyond standard healthcare offerings, some employers are opting for more comprehensive packages.
- Pensions: Offering more than the standard auto-enrolment pension schemes is becoming almost a non-negotiable.
- Charity: Offering volunteering days and charity events are excellent ways to boost morale and show employees that their company cares about giving back.
While these benefits create a strong offer, to meet the evolving expectations of the modern workforce, companies must continue to progress.
Benefits to Explore
There are some exciting trends set to take centre stage in 2025, with the potential to define employee benefits in the coming years.
- Personalisation: A one-size-fits-all approach is becoming a thing of the past as people search for benefits tailored to their unique needs and lifestyles. According to a MetLife survey, 74% of employees want more personalised benefits options, with 68% stating that it would make them feel more valued.
- Financial Wellness and Retirement Planning: There is a trend emerging for companies to place a much greater emphasis on financial wellness. Employees are seeking resources to help them manage debt, plan for the future, and improve their financial literacy. Providing these tools not only reduces stress but also enhances overall well-being.
- Mental Health: Since COVID-19, the focus on mental health has never been greater; and the trend is set to continue. Holistic well-being packages focused on physical, emotional, and financial health are essential for a productive and happy workforce.
- Inclusive Work Arrangements: Employees expect flexibility in terms of working from home or adjusting their schedules but, moreover, inclusivity is at the forefront and striking the right balance is essential for employee satisfaction.
- Sustainability: People want to know their employer cares about the environment. A Deloitte report shows that 69% of employees want their company to invest in sustainability initiatives. From reducing carbon footprints to supporting social causes, tree-planting initiatives, and using sustainable products in the office, being a responsible company is a big draw.
While competitive remuneration will always be critical to talent attraction and retention, staying ahead with the accompanying benefits package shows that you are in tune with what employees truly want.
It is a quickly moving landscape, but if you have the flexibility to personalise benefits and stay adaptable with your offer, you have a golden opportunity to position your business as a top employer in 2025.