Top 5 Employee Benefits Revealed
•
2 likes•3,494 views
The Benefits Employees Want Most Kimberlea Kozachenko, Senior Leader, Talent Attraction & Acquisition at ATB Financial Dr. Andrew Chamberlain, Chief Economist at Glassdoor Lisa Holden, Employer Communications Manager at Glassdoor
Recommended
Recommended
More Related Content
What's hot
What's hot (20)
Viewers also liked
Viewers also liked (20)
Similar to Top 5 Employee Benefits Revealed
Similar to Top 5 Employee Benefits Revealed (20)
More from Glassdoor
More from Glassdoor (20)
Recently uploaded
Recently uploaded (16)
Top 5 Employee Benefits Revealed
- 1. © Glassdoor, Inc. 2016#GDCHAT The Benefits Employees Want Most
- 2. © Glassdoor, Inc. 2016#GDCHAT • You can connect to audio using your computer’s microphone and speakers. • Or, you may select “Use Telephone” after joining the Webinar. • All lines will be muted to avoid background noise. • You can ask questions at any time by typing them into the Questions Pane. Webinar Tips for Attendees
- 3. © Glassdoor, Inc. 2016#GDCHAT
- 4. © Glassdoor, Inc. 2016#GDCHAT Featured Speakers Dr. Andrew Chamberlain Chief Economist at Glassdoor Llinkedin.com/in/chamberlain @adchamberlain Lisa Holden Employer Communications Manager at Glassdoor Linkedin.com/in/holdenlisa @LisaAHolden Kimberlea Kozachenko Senior Leader, Talent Attraction & Acquisition at ATB Financial Linkedin.com/in/kimberleakoz @KimberleaKoz
- 5. © Glassdoor, Inc. 2016#GDCHAT agenda why benefits matter more than ever how benefits influence your employer brand the top 5 benefits employees want most PTO case study: ATB Financial 5 steps to successfully implement change key takeaways Q&A
- 6. © Glassdoor, Inc. 2016#GDCHAT Why Benefits Matter More Than Ever
- 7. © Glassdoor, Inc. 2016#GDCHAT Impact on Talent Attraction Glassdoor survey conducted by Harris Poll, December 2015
- 8. © Glassdoor, Inc. 2016#GDCHAT Impact on Talent Attraction • Benefits… • Tell a story about your company’s commitment to team member wellness • Speak to your company’s investment in employees’ financial, spiritual, and personal growth • Help drive talent to apply!
- 9. © Glassdoor, Inc. 2016#GDCHAT Growing Importance Bureau of Labor Statistics National Compensation Survey, March 2016 Glassdoor Jobs Report, December 2016
- 10. © Glassdoor, Inc. 2016#GDCHAT Employees Prefer Benefits Over Increased Pay Glassdoor Q3 2015 Employment Confidence Survey
- 11. © Glassdoor, Inc. 2016#GDCHAT Top 5 Benefits Employees Value Over Pay Raise Glassdoor Q3 2015 Employment Confidence Survey 31% 32% 35% 37% 40% 0% 5% 10% 15% 20% 25% 30% 35% 40% 45% Healthcare insurance 401(k) plan, retirement plan and/or pension Paid sick days Performance bonus Vacation/Paid time off Healthcare insurance (e.g., medical, dental)
- 12. © Glassdoor, Inc. 2016#GDCHAT agenda why benefits matter more than ever how benefits influence your employer brand the top 5 benefits employees want most PTO case study: ATB Financial 5 steps to successfully implement change key takeaways Q&A
- 13. © Glassdoor, Inc. 2016#GDCHAT Job Seekers Want the Full Scoop
- 14. © Glassdoor, Inc. 2016#GDCHAT Job Seeker Behavior Glassdoor U.S. Site Survey, January 2016 Glassdoor U.S. Site Survey, January 2016
- 15. © Glassdoor, Inc. 2016#GDCHAT Top 5 Pieces of Information Job Seekers Want Employers to Provide as They Research Where to Work: Details on compensation packages Details on benefits packages Basic company information Details on what makes the company an attractive place to work Company mission, vision and values Glassdoor U.S. Site Survey, January 2015 1 2 3 4 5
- 16. © Glassdoor, Inc. 2016#GDCHAT Employee Voice Drives Employer Brand Consider the ripple effect of how changes will affect employees Use a thoughtful, structured approach to rolling out changes Be prepared for employee feedback
- 17. © Glassdoor, Inc. 2016#GDCHAT Which benefits matter most? Where should my company invest? What benefits boost employee happiness most? You May Be Wondering…
- 18. © Glassdoor, Inc. 2016#GDCHAT agenda why benefits matter more than ever how benefits influence your employer brand the top 5 benefits employees want most PTO case study: ATB Financial 5 steps to successfully implement change key takeaways Q&A
- 19. © Glassdoor, Inc. 2016#GDCHAT Meet Our Chief Economist Dr. Andrew Chamberlain Chief Economist at Glassdoor Llinkedin.com/in/chamberlain @adchamberlain
- 20. © Glassdoor, Inc. 2016#GDCHAT Focus on the Basics
- 21. © Glassdoor, Inc. 2016#GDCHAT Top 5 Benefits by Correlation with Overall Satisfaction with Benefit Packages (on a scale of 0-1.0) Rank Benefit Type Correlation 1 Health Insurance 0.7 2 Vacation & Paid Time Off 0.6 3 Pension Plan 0.6 4 401K Plan 0.6 5 Retirement Plan 0.5 Core Benefits Drive Employee Satisfaction Most Glassdoor Economic Research, June 2016
- 22. © Glassdoor, Inc. 2016#GDCHAT Popular Perks Rank Lower
- 23. © Glassdoor, Inc. 2016#GDCHAT Ancillary Benefits Matter Less Top 5 Benefits by Correlation with Overall Satisfaction with Benefit Packages (on a scale of 0-1.0) Rank Benefit Type Correlation 7 Maternity & Paternity Leave 0.5 12 Dependent Care 0.4 14 Stock Options 0.4 16 Free Food & Snacks 0.4 30 Employee Discounts 0.3 Glassdoor Economic Research, June 2016
- 24. © Glassdoor, Inc. 2016#GDCHAT agenda why benefits matter more than ever how benefits influence your employer brand the top 5 benefits employees want most PTO case study: ATB Financial 5 steps to successfully implement change key takeaways Q&A
- 25. © Glassdoor, Inc. 2016#GDCHAT PTO Case Study
- 26. © Glassdoor, Inc. 2016#GDCHAT 5 Steps to Successfully Implement Change
- 27. © Glassdoor, Inc. 2016#GDCHAT Step 1: Examine Your Current Benefits
- 28. © Glassdoor, Inc. 2016#GDCHAT Step 1: Examine Your Current Benefits Verify your company’s benefits on Glassdoor Keep core benefits in mind Check your reviews on Glassdoor Gauge employee sentiment Identify trends Solicit feedback, if needed
- 29. © Glassdoor, Inc. 2016#GDCHAT ATB Pro Tip: Align With Mission and Values • Results-focused • Trust and autonomy • Empower employees to work how and when works best for them
- 30. © Glassdoor, Inc. 2016#GDCHAT Step 2: Research Your Industry
- 31. © Glassdoor, Inc. 2016#GDCHAT Step 2: Research Your Industry Ranking on 1-5 Scale of Benefits Criteria by Industry Highest-Rated Benefits Lowest-Rated Benefits Highest-Rated 401(k) Plans Highest-Rated Maternity/ Paternity Leave Finance (3.7) Business Services (3.4) Finance (3.8) Finance (3.8) IT (3.7) Retail (3.1) Education (3.8) IT (3.7) Manufacturing (3.6) Food Services (2.7) Manufacturing (3.8) Education (3.6) Glassdoor Economic Research, June 2016 Measure against competitors Use competitive information to make the case for or against benefits changes
- 32. © Glassdoor, Inc. 2016#GDCHAT ATB Pro Tip: Consult with Other Orgs • Challenges and risks • Fallout effect • Wins and fails
- 33. © Glassdoor, Inc. 2016#GDCHAT Step 3: Preemptively Test Changes
- 34. © Glassdoor, Inc. 2016#GDCHAT Step 3: Preemptively Test Changes Launch an internal survey Host a focus group from different areas of the organization If you have limited capital, you can offer free/low cost perks to offset cuts or to enhance your current package: • Wellness Programs (gym discounts, team hikes, sports groups, meditation, yoga) • Volunteer Time Off (VTO) • Financial Education
- 35. © Glassdoor, Inc. 2016#GDCHAT ATB Pro Tip: Offer a Great Experience Piece
- 36. © Glassdoor, Inc. 2016#GDCHAT Step 4: Roll Out Changes
- 37. © Glassdoor, Inc. 2016#GDCHAT Step 4: Roll Out Changes Be thoughtful and transparent in your approach Develop clear messaging Train leaders Provide an open forum for questions
- 38. © Glassdoor, Inc. 2016#GDCHAT ATB Pro Tip: Organize a Change Management Team • Provide clear vision • Train leaders • Communicate expectations and processes • Roll out in phases
- 39. © Glassdoor, Inc. 2016#GDCHAT Step 5: Monitor and Respond to Feedback
- 40. © Glassdoor, Inc. 2016#GDCHAT Step 5: Monitor & Respond to Feedback Update your company’s Glassdoor profile Monitor feedback on Glassdoor Continue the dialogue internally
- 41. © Glassdoor, Inc. 2016#GDCHAT ATB Pro Tip: Share Employee Stories “ ATB cares for its employees. As a new employee, the banking benefits and preferred rates on mortgages and loans are show-stoppers! The flex benefits allow you to allocate your benefits to the health categories that you value the most. Employee hubs on each floor to enjoy free Starbucks coffee, watch hockey games with co-workers…the list goes on!! ATB Financial Team members have shared their anonymous reviews about benefits on Glassdoor:
- 42. © Glassdoor, Inc. 2016#GDCHAT agenda why benefits matter more than ever how benefits influence your employer brand the top 5 benefits employees want most PTO case study: ATB Financial 5 steps to successfully implement change key takeaways Q&A
- 43. © Glassdoor, Inc. 2016#GDCHAT Key Takeaways Top 5 benefits employees want most are health insurance, paid time off, pension plans, 401(k) plans, and retirement plans Use competitive information to make the case for or against benefits changes to your senior leadership Use a structured, thoughtful approach to rolling out changes Use Glassdoor to showcase benefits to candidates and monitor employee sentiment as you look to make changes
- 44. © Glassdoor, Inc. 2016#GDCHAT glassdoor.com/research
- 45. © Glassdoor, Inc. 2016#GDCHAT Questions? Dr. Andrew Chamberlain Chief Economist at Glassdoor Llinkedin.com/in/chamberlain @adchamberlain Lisa Holden Employer Communications Manager at Glassdoor Linkedin.com/in/holdenlisa @LisaAHolden Kimberlea Kozachenko Senior Leader, Talent Attraction & Acquisition at ATB Financial Linkedin.com/in/kimberleakoz @KimberleaKoz
- 46. © Glassdoor, Inc. 2016#GDCHAT