Today's employees are attracted by a hiring package with both extrinsic (pay and benefits) and intrinsic (motivation, training opportunities, etc.) elements. But does your organization have the right mix?
There's really only one way to find out: Ask them. Hold focus groups or distribute questionnaires to your employees with the purpose of determining what they think of your present pay and benefits program and also the work environment. Which benefits do they rate the highest? Which are least important to them? What do they find most and least desirable about their jobs and the workplace?
Studies have been done by numerous compensation organizations and they have identified the following as the most important benefits:
- RRSP or other matched employee retirement plans
- Dental plan
- Pension plan
- Pay for performance compensation
- Flexible working hours
- Childcare
- Tuition reimbursement
