It’s a job seeker’s economy, and that means employers have greater incentive to provide additional benefits, especially if they are already offering competitive wages. - Bill Stoller, Express CEO
OKLAHOMA CITY, Okla. (PRWEB) July 11, 2018
Signing bonuses. More paid holidays. Paid training. School tuition. Even health insurance for employee’s pets.
Anne Woods, an Express Employment Professionals franchise owner in Santa Fe Springs and Covina, California, reports businesses are rolling out new and expanded benefits as the competition for workers grows fiercer.
Woods also reports some businesses are ending waiting periods for eligibility and upping the employer contribution toward benefit programs.
In Grand Rapids, Michigan, Express franchise owner Janis Petrini has not seen big shifts, but she has observed employers are “more willing to negotiate on vacation time,” given that many workers “would like more time off as a part of their salary negotiations.”
“Job seekers are seeking robust time off packages as well as opportunities for training and development,” Petrini adds. “There are small waves of wanting childcare reimbursement, wellness benefits, pet insurance or identity theft protection.”
Yvonne Rockwell, an Express franchise owner in Santa Clarita, California, likewise notes that job seekers prioritize a four-day work week when possible.
Luke Sodergren, Express franchise owner of offices in Minnesota and Wisconsin, agrees.
“Our experience is that time off and a flexible work schedule is extremely important,” he said. “We have hired three to four new employees recently and all were asking questions about PTO and time off.”
So, what benefits, aside from health insurance, do employers tend to offer? Express put that question to business leaders recently. At the top of the list were casual dress code, access to training/certification classes and flexible work schedules.
Respondents were asked, “What benefits, not including healthcare, does your company offer employees?”
Responses included the following:
- Casual dress code – 16 percent
- Access to training/certification classes – 14 percent
- Flexible work schedule – 9.5 percent
- College tuition reimbursement – 8 percent
- Professional organization memberships – 8 percent
- Community service/volunteer opportunities – 7 percent
- Profit sharing/stock options – 7 percent
- Opportunities to work from home/remotely – 6 percent
- Cafeteria programs – 6 percent
- Company gym/membership discount at a local gym – 5.5 percent
- Generous/unlimited vacation time – 4 percent
- Opportunities to travel – 4 percent
- Child care – 0.5 percent
“It’s a job seeker’s economy, and that means employers have greater incentive to provide additional benefits, especially if they are already offering competitive wages,” said Bill Stoller, CEO of Express. “Flexibility seems to be the priority for today’s employees, and benefits that help provide that flexibility—from days off and remote work to child care or continued learning—are likely to be well-received.”
The survey of business leaders was conducted via Express Employment Professionals’ Refresh Leadership blog. Fielded in April, the tally from the survey included 739 votes.
If you would like to arrange for an interview with Bill Stoller to discuss this topic, please contact Sheena Karami, Director of Corporate Communications and PR, at (405) 717-5966.
About Bill Stoller
William H. "Bill" Stoller is chairman and chief executive officer of Express Employment Professionals. Headquartered in Oklahoma City, the international staffing company has more than 800 franchises in the U.S., Canada and South Africa. Since its inception, Express has put more than 6 million people to work worldwide.
About Express Employment Professionals
Express Employment Professionals puts people to work. It generated $3.4 billion in sales and employed a record 540,000 people in 2017. Its long-term goal is to put a million people to work annually. For more information, visit ExpressPros.com.