At the core of every company’s identity is the competitive advantage that distinguishes it from other businesses. While unique products and services are certainly key factors, the passion, competencies, diverse backgrounds, and experiences provided by the talent we hire truly give an organization its competitive advantage.
When companies view their talent through the lens of a competitive advantage, investing in various types of benefits that add to their well-being in a way that drives retention and engagement is a natural result. We often think that the most competitive benefits are standard health insurance, paid time off (PTO), vision, dental, etc., but to the talent we trust to help bring our visions to life, employee benefits are much more than the summary we often see on a company’s website.
In the eyes of employees, benefits that are truly competitive take into consideration the needs of the whole person. Non-traditional benefits can help organizations take a more integrated and holistic approach. Here are two things to consider if you are thinking about offering these types of benefits.
Understand the Non-Traditional Needs of Your Workforce
To leverage nontraditional benefits as a competitive advantage, you must first understand the non-traditional needs of your employees. Understanding what your workforce values regarding benefits can be as simple as conducting a survey and allowing them to tell you what matters to them. Because the needs of your talent are unique, the benefits package you offer should also be unique. It’s not enough to list flexible hours, gym memberships, and other perks as non-traditional benefits when you don’t understand the unique dynamics and demographics of the workforce those benefits are meant to attract.
Integrate Non-Traditional Benefits in Your Employer Branding
Once you align the needs of your workforce with your benefits strategy, the second step is to communicate your non-traditional benefits through branding initiatives. Because non-traditional benefits are uniquely designed to fit every organization’s business strategy differently, how those benefits are communicated can also be unique, whether it’s through creative videos or flyers. Creative marketing strategies can be used and tailored to attract new talent and engage current employees.
As non-traditional benefits become more aligned with your overall business strategy, they also send a message that because your company’s brand and talent are unique, so are your benefits. Employers Council has numerous online resources to help you learn more about employee benefits. If you have any questions, please email the Member Experience Team.
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