Show Potential Hires Your Package

Everyone knows that a good benefits package can add up to 33% value to an offerthe cost of healthcare, 401(k) matching, and even access to that employee gym all add up. They cost you, the employer, money, and add value to an employee's total compensation package. How do you make sure your recruits are seeing the big picture? There're loads of tools popping up that let job candidates see how the offers they're being made stack up against the average. One new one, reports Workforce, is Rewards on Board, a Web-based system that lets employees tinker with numbersletting them see how much it'd cost to pick that expensive health plan or how their take-home pay'd be affected by maxing out their 401 (k). "There's value to the employer, because the [potential] employee can see the amount of the total offerâ€”pay plus benefits," Bill Crawford, the SVP of the company that developed Rewards on Board, told Workforce. "And the recruit gets to see that it's not, let's say, just a $75,000 offer; it's really a $90,000 offer." This widget only shows tangible benefits that can be quantified, so perks like telecommuting and flextime (like we wrote about yesterday), a good company culture, and even concierge services are still somewhat mysterious. Joe Kilmartin, managing director of compensation consulting for Salary.com, reminds employers to stress these benefits, if they have them, to potential hires, as they can be even more valuable to the new generation of workers than a pension plan.

Fishbowl

Show Potential Hires Your Package

Rachel Kaufman

About

Subscriptions

Events

Publications

WORK SMARTER - LEARN, GROW AND BE INSPIRED.

Subscribe today!

Rachel Kaufman