How to Boost Employee Engagement by Revisiting Benefits

Beyond offering a competitive salary, providing employee benefits that boost motivation and engagement is another way to work towards attracting new talent. It also helps ensure you’ve got a productive and fulfilled team on board for the long haul. 

A staggering 42% of Canadian workers are looking for a new job this year. While salary tops the reason for their job search, 31% cite that they want better benefits. 

In a competitive job market, set yourself apart by revisiting your employee benefits. Here’s why. 

The importance of benefits for employee engagement

Benefits and perks are one of the key pieces of a company’s Employee Value Proposition (EVP). An EVP outlines monetary and non-monetary benefits companies offer to employees in exchange for their skills which includes financial compensation, rewards, and statements about company culture. 

For both existing employees and those considering coming on board, a key part of improving their experience in this market involves going beyond financial incentives to provide perks that really speak to top talent’s current needs.

But what benefits keep employees engaged in today’s market? Here are a few areas to consider as companies revisit their perks in a post-pandemic world:

Providing top-tier health coverage

For many employees, there is no substitute for robust health benefits. In November 2022, 34% of Canadian workers indicated that health and well-being benefits are the most important factor when choosing an employer.

In particular, mental health has become a sought-after benefit for employees across several demographics. Roughly 38% of Canadians have taken time off work in the last five years due to mental health issues, including stress, anxiety, depression and burnout.

Employers have been responding — more than half of organizations say they have added or are considering adding components to their existing mental health benefits, such as virtual therapy offerings. Workers experiencing burnout are also looking for employers to support mental health through other options, such as mental health days and employer assistance programs.

For organizations that have yet to augment support for employee mental health and wellness, it may be worth revisiting coverage via your employee benefits plan provider to see how options have changed in recent years.

Paid time off that goes above and beyond

One of the most significant benefits employees seek to support work-life balance, avoid burnout, and increase job satisfaction is paid time off.

Some employers, such as KPMG Canada, have increased paid vacation days during the summer and around holidays, as part of its focus on employee wellness. The move, it says, has kept employees refreshed and engaged.

Increasing paid time off is a win-win situation for employees and employers. Protecting and enhancing employee mental health by preventing burnout will ensure your workforce is happy, engaged, and productive when they’re in the office.

Put learning in focus

In light of the competitive job market in many sectors, employees are looking for an opportunity to continue to develop their skills. Including education as a paid-for employment perk is one way to boost employee engagement and job satisfaction.

According to a 2022 survey by Randstad in partnership with Ipsos, less than 40% of both blue- and white-collar workers note that they are satisfied with the career development opportunities offered by their employer. What companies should focus on, says the research, are individualized training opportunities that meet company needs but also offer personal growth.

With employees based remotely as well as in the office, look to expand learning options to include both virtual and in-person options and offer choices — such as micro-learning opportunities alongside longer courses — to match employee schedules and learning styles.

Time to evaluate

It’s the ideal time to take the pulse of candidates and employees to discover their current requests when it comes to benefits and perks and how you can align your company’s value propositions and offerings to match. With benefits in place that match employee needs, you’re well on your way to retaining and recruiting top talent.