Can You Offer More? Here Are the Latest Trends in Benefits and Salary

With low unemployment nationwide, finding the right people for the positions your company needs to fill can be challenging.

Benefits in the manufacturing industry and skilled trades are already stronger than those in many other industries. For companies seeking to pull in the best talent, however, understanding current trends and adapting to them can set their job offers apart from the crowd.

Here’s what you need to know:

1. Simply offering health insurance may not be enough.
In an era of increasing healthcare premiums and costs, many manufacturing companies have strengthened their overall compensation by picking up more of the tab for health insurance. Covering the entire premium for workers or offering dental, vision, life and disability coverage in addition to medical coverage can help you stand out.

Since medical plans can be complex, finding ways to simplify the worker’s role in using their coverage can also make job offers more attractive. Plans with low or no deductible or simple, easy-to-predict copays can be highly appealing to workers.

2. Consider re-balancing retirement plans.
Pension plans are in their decline. While many companies have adopted defined-benefit plans to supplement or replace pension plans, not all of them have considered whether these plans really provide the kind of retirement support their strongest candidates seek.

Take a second look at defined contribution plans, including your contribution to these plans. And don’t hesitate to walk your top candidates through the plan so they understand exactly how accepting the job offer will benefit them today and tomorrow.

3. Get family-friendly.
Work-life balance is a top priority, especially for workers under age 40. Flexible work schedules can make a job more attractive than competing offers, as can compressed workweeks, paid sabbaticals and paid vacation time.

For families, consider subsidizing the costs of childcare or even offering on-site childcare for parents who want to work, but who can’t make other arrangements. Paid sick leave that applies to both family needs and the workers’ own needs can help your staff strike a work-life balance that leaves them relaxed, focused and alert on the job.

Eclipse Professional Services supports companies through out North Texas with Skilled Industrial Labor in the Logistics, Manufacturing and Warehousing skills sets on Temp To Hire basis. Contact us at 214.331.7502, if you are looking for new opportunities or to increase the capacity of your work force.

Leave a Comment

This website uses cookies to ensure you get the best experience on our website.