What’s the Top Deciding Factor for Accepting a Job Offer?
If you have been wondering why the best talents keep on rejecting a job offer, maybe it’s time you consider alternative health insurance solutions to sweeten the deal.
Most employees today no longer just focus on salary as their main reason for accepting an offer. Some companies have already recognized this trend by offering competitive insurance plans.
Harvard Business Review said that health insurance is nearly as important as salary for around 90% of potential employees’ decision-making process. In response, many companies have offered them as a way to promote the concept of a successful career that hinges on an employee’s health and happiness.
While companies of all sizes have begun to observe this trend, it’s important that small-sized enterprises think carefully how offering health coverage would be a worthwhile investment. Your company should be able to weigh the benefits of providing insurance against managing the budget and expenses for it. Those who target Millennials should also consider the pros and cons of offering pension benefits.
A survey of 2,750 workers in North America showed that Millennials are most likely to turn down a job offer if it doesn’t provide pension benefits. The age group has displayed the greatest interest on a retirement pension plan, but almost four out of five people from the survey admitted that the unavailability of pension benefits is a deal-breaker for a job offer.
Employee retention also depends on this type of benefit, as 73% of the respondents believe that a pension plan served as one reason for their loyalty to their employer.
A job offer with a reasonable salary and health insurance benefits would mostly be the top deciding factor for prospective employees. Therefore, companies should comply with this trend if they want to attract or even retain blue-chip talents.