Top employee benefits in 2023. What do candidates in the tech industry expect?
As research shows, an increasing number of companies are offering benefits to their employees. Probably every Pole knows what the term means and the vast majority of people active in the labor market have used employee benefits, but there are still many myths and misconceptions surrounding the subject. Whether you are an employer and want to increase your attractiveness in the eyes of candidates, or you are an employee who is wondering about the terms of your current employment, you will find this article helpful. After all, we are writing it as a link between the two parties 🙂
Why do employers offer benefits?
To our surprise, many candidates are not fully aware of the role that employee benefits play. Of course, the argument of Employer Branding, i.e. gaining image benefits, is well known, but to limit ourselves to this aspect would certainly be an understatement. In that case, what else is at stake?
A well-composed employee benefits package can positively affect the satisfaction level of the team, and this is a win-win situation - people are more willing to come to the office, so their productivity increases. At the same time, it is worth adding that autonomy in the choice of amenities is highly desirable, as it allows for increased personalization of one's workplace.
Some benefits are also a hidden way to motivate personal and professional development. Training budgets allow people to upgrade their skills, which, in an era of high prices for courses and training, can determine a candidate's positive decision. For the employee, this is a valuable entry on the resume, and the company gains a person with new or higher competencies. Another win-win, right?
Finally, benefits can have tax and financial benefits. For example - many people go to the gym, whether their employer pays for it or not. The same is true for courses, meals and medical care - with the right level of earnings, we simply opt for them. On the other hand, employee benefits are taxed in a slightly different way than income from an employment contract, making it more profitable for a company to offer benefits worth PLN 1,000 a month than to raise someone's salary by that amount.
Good benefits, that is, what kind of benefits?
Probably everyone has encountered benefits that, to say the least, made little sense. An example? Fruit Thursdays, vouchers for use at strictly defined places, or access to services related to some specific hobby or unpopular need. A bad benefit will also be one that simply no one knows about or remembers.
We can therefore conclude that we expect benefits to:
- be needed and solve real problems and needs;
- be used effectively, as this is the only way to make such an expense worthwhile;
- raise the level of employee satisfaction;
- be able to improve the team's efficiency.
Note, however, that the type of benefits should be tailored to the specifics of the organization and even to the specific position. An example? Performing certain roles involves more stress, in which case free psychological support may be highly advisable. At the other end of the spectrum, we have positions staffed by very young people who are likely to go to the gym more often. They would certainly appreciate sports packages.
To sum up: the benefits policy should be correlated with the organizational culture and business profile of your company. It is also worth remembering to constantly adapt to changes and expectations of both employees and candidates.
Benefits that have conquered the hearts of candidates
The creativity of our clients and other technology companies can amaze. Our observations show that of all types of benefits, a few "sell" best.
Comprehensive medical packages
Today, an increasing number of companies are offering very extensive packages of free or low-paid medical services. In addition to access to basic medical care offered by Enel-med, Lux Med and other similar entities, dental and psychological care are also popular. Some organizations are extending packages so that the families of their employees can also count on additional medical assistance.
Medical packages are an excellent solution for people who don't want or can't wait in long lines. We are also pleasantly surprised by the high awareness of mental health - more and more organizations are actively trying to take care of this area of their members' lives. Well done!
Unlimited training budgets
"Unlimited" training budgets are a relatively new concept. How does this work in practice? If an employee finds a training course that interests him, he reports to the HR department with a request to accept and pay for his idea. Of course, there is still an element of subjective evaluation of a given purchase, but this limits situations in which someone cancels a course because it is too expensive.
We should pay attention to this aspect especially for those applying for junior positions. It is at the beginning of the career that we should invest as much as possible in competence development, as the return on such expenses is likely to be much higher than for seniors or mids.
Additional days off
The issue of days off varies significantly. Those working on a B2B basis theoretically have no paid vacations, but more and more organizations are offering a substitute or cash equivalent. In addition, excess days off on birthdays or due to seniority are becoming popular.
If you are particularly concerned about work-life balance, be sure to look for employers who offer more than the minimum required by law. However, you have to reckon with the fact that extra days off are the domain of product companies, and the pay may (though not necessarily) be a bit lower.
In the case of the technology sector, the employer is not obliged to provide hot meals - after all, we are not talking about physical labor in harsh conditions. However, many offices are equipped with comfortable social rooms and kitchens - a great example of this is the Qualtrics office in Krakow where you can comfortably heat up and eat your lunch.
Some organizations also offer free or inexpensive catering - this solution is probably the most well-liked, as it not only reduces the cost of living in the city, but also encourages a varied and healthy diet. We probably don't need to explain the benefits to employees.
Companies headquartered in large office centers also offer discounts on food services at local cafes or bars.
Non-standard work arrangements
Although the COVID-19 pandemic has revised our view of remote work, for many people it is still a form of benefit. Hardly surprising - not having to commute to the office every day is a good way to save money and time on commuting.
We can say the same about flexible working hours - some people want to leave the office as early as possible, while others would be happiest working in the middle of the night. While a flexible schedule is standard in many companies, candidates often emphasize the importance of this aspect. We should also add that both Generation Z and millennials value a less formal dress-code in the office.
Ability to bring hardware home
For some candidates, hardware issues are particularly important. Let's point out right away that, contrary to popular belief, not every IT employee will receive a computer from the company - in the case of B2B contracts, the organization does not necessarily choose to do so.
Even if an employee is given the equipment he needs to perform his duties, he can't always take it home with him.
While we can argue this with security issues, let's not kid ourselves - being able to use a company computer around the clock is just convenient, plus it keeps you from having to incur expenses for equipment for personal use. A lot of money in your pocket, right?
Another solution introduced by employers is home office organization allowances. This is a very convenient solution, as it gives you the greatest flexibility in terms of choosing computer equipment or accessories, such as a chair or desk, but it does not necessarily exclude situations in which these will be provided anyway.
If you live on the go or combine work and study, being able to take a computer home is a huge convenience. However, it is worth considering that choosing a slightly better-paid offer can compensate you for the inconvenience in this regard, because you will be able to use the difference in salary to buy the appropriate equipment.
Curious about what else we can offer you? Check out our tech job opportunities!
What does itMatch have in common with employee benefits?
As an IT recruitment agency, we do not participate directly in the selection of benefits offered by our clients. However, we often support them in this area - we advise, verify interest in specific solutions and, most importantly, conduct market mapping, i.e. market analysis taking into account direct competition.
It also happens frequently that we help candidates choose the right offer precisely on the basis of the catalog of benefits offered by employers. Every professional expects slightly different solutions and pays attention to different details, and these preferences simply cannot be ignored.
Along with implementing best practices and broadly defined Employer Branding, matching employee benefits is one of the best ways to increase the chances of success in technology recruitment. At a time when niche professionals can still run through offers, our solutions are the best way to attract their attention and keep them at one company for longer.
Employee benefits are becoming an increasingly popular practice in various companies. Both employees and employers benefit from it, because with the appearance of proper motivation, the efficiency of operations also increases. What will the future bring and what else will surprise us in recruitment? We don't know yet, but if you want to stay up to date with our industry, be sure to visit our blog!
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