With another year, comes another opportunity to re-evaluate and ramp up the employee perks you offer to attract and retain talent. Are your perks up to par with what your competition is offering? Staying on top of the latest trends is crucial for consistently meeting the needs of today’s workers.
In fact, according to a recent Glassdoor report, 57% of U.S. job candidates report benefits and perks are among their top considerations before accepting a job.
Here are four perks that are popping up in senior care communities as of late and will continue to grow in popularity this year.
Financial Assistance & Peace Of Mind
Providers are starting to realize that they can gain a competitive advantage by offering financial perks like instant pay, tuition reimbursement and education assistance. The reason? 77% of today’s mostly-millennial workforce are more likely to be attracted to an organization that cares about their financial well-being.
PwC’s 2016 Employee Financial Wellness Survey revealed that 44% of Americans are under financial stress with less than $400 in liquid savings. What’s more, four out of five employees say personal financial issues affect their job performance, leading to an increase in stress, an inability to focus and absenteeism and tardiness, according to the Society for Human Resource Management.
That's why we've introduced OnShift Wallet, our financial wellness software, which offers employees access to earned but unpaid wages between paychecks. This helps employees better manage their finances, avoid horrific payday loans and ease employee financial stress when unexpected expenses pop up.
More Robust Career Development
With Baby Boomers retiring in greater numbers, long-term care and senior living organizations are tasked with developing their next generation of leaders. Many organizations report that they’ve begun to put a greater focus on grooming employees to move up the ranks by defining career paths and offering career development opportunities.
Some companies have even begun to communicate the opportunity to move up in job descriptions and during interviews. Doing so can attract new hires, especially millennials, who value employers invested in their professional growth and success.
Systematic Rewards Programs
Employees want to know their contributions are appreciated, and in effort to show them that they are, many providers are taking steps to expand their rewards programs.
Today’s workers expect their employers to provide thoughtful and meaningful recognition for their hard work. This recognition needs to be consistent and equitable. The best way to ensure that rewards are fair and unbiased is to directly tie them to employee behavior that supports the community’s stated mission, vision and values. In addition, recognizing consistency and stepping up when needed is important – such as punching in and out on time, not calling off and picking up open shifts.
Using a rewards program makes it easy for management to distribute rewards and gives employees visibility into their progress and how to earn them. OnShift Engage - our employee engagement software for senior care - uses an automated points-based rewards system that tracks employee behaviors so contributions can be rewarded.
Even More Employee Wellness Initiatives
Gym memberships, pre-tax commuter benefits, free on-site yoga classes and other perks that promote health and wellness are becoming common offerings and will continue to grow in popularity in 2018.
Senior care organizations should use this year to revamp or modify their wellness programs. Why? Because healthier employees miss less work, are usually happier and provide better resident care. Happy employees equals happy residents.
Complacency is not an option when it comes to employee perks, especially when many organizations are increasing their efforts to entice new hires. Your applicants put workplace perks at the top of their list, and companies should use 2018 to further refine programs to help meet their employee retention and recruiting goals.