the benefits employees want most

© Glassdoor, Inc. 2016 #GDCHAT

The Benefits Employees Want Most


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Featured Speakers

Dr. Andrew Chamberlain Chief Economist

at Glassdoor Llinkedin.com/in/chamberlain

@adchamberlain

Lisa Holden Employer Communications Manager

at Glassdoor Linkedin.com/in/holdenlisa

@LisaAHolden

Kimberlea Kozachenko Senior Leader, Talent Attraction &

Acquisition at ATB Financial Linkedin.com/in/kimberleakoz

@KimberleaKoz


agenda why benefits matter more than ever

how benefits influence your employer brand

the top 5 benefits employees want most

PTO case study: ATB Financial

5 steps to successfully implement change

key takeaways

Q&A


Why Benefits Matter More Than Ever


Impact on Talent Attraction

Glassdoor survey conducted by Harris Poll, December 2015


Impact on Talent Attraction

•  Benefits… •  Tell a story about your company’s commitment to team member

wellness

•  Speak to your company’s investment in employees’ financial, spiritual, and personal growth

•  Help drive talent to apply!


Growing Importance

Bureau of Labor Statistics National Compensation Survey, March 2016

Glassdoor Jobs Report, December 2016


Employees Prefer Benefits Over Increased Pay

Glassdoor Q3 2015 Employment Confidence Survey


Top 5 Benefits Employees Value Over Pay Raise

Glassdoor Q3 2015 Employment Confidence Survey

31%

32%

35%

37%

40%

0% 5% 10% 15% 20% 25% 30% 35% 40% 45%

Healthcare insurance 401(k) plan, retirement plan and/or pension

Paid sick days

Performance bonus

Vacation/Paid time off

Healthcare insurance (e.g., medical, dental)







key takeaways

Q&A


Job Seekers Want the Full Scoop


Job Seeker Behavior

Glassdoor U.S. Site Survey, January 2016



Top 5 Pieces of Information Job Seekers Want Employers to Provide as They Research Where to Work:

Details on compensation packages

Details on benefits packages Basic company information

Details on what makes the company an attractive place to work

Company mission, vision and values


1

2

3

4

5


Employee Voice Drives Employer Brand

Consider the ripple effect of how changes will affect employees

Use a thoughtful, structured approach to rolling out changes

Be prepared for employee feedback


Which benefits matter most?

Where should my company invest?

What benefits boost employee happiness most?

You May Be Wondering…







key takeaways

Q&A


Meet Our Chief Economist



@adchamberlain


Focus on the Basics


Top 5 Benefits by Correlation with Overall Satisfaction with Benefit Packages (on a scale of 0-1.0)

Rank Benefit Type Correlation

1 Health Insurance 0.7

2 Vacation & Paid Time Off 0.6

3 Pension Plan 0.6

4 401K Plan 0.6

5 Retirement Plan 0.5

Core Benefits Drive Employee Satisfaction Most

Glassdoor Economic Research, June 2016


Popular Perks Rank Lower


Ancillary Benefits Matter Less

Top 5 Benefits by Correlation with Overall Satisfaction with Benefit Packages (on a scale of 0-1.0)

Rank Benefit Type Correlation

7 Maternity & Paternity Leave 0.5

12 Dependent Care 0.4

14 Stock Options 0.4

16 Free Food & Snacks 0.4

30 Employee Discounts 0.3








key takeaways

Q&A


PTO Case Study


5 Steps to Successfully Implement Change


Step 1: Examine Your Current Benefits


Step 1: Examine Your Current Benefits Verify your company’s benefits on Glassdoor

Keep core benefits in mind

Check your reviews on Glassdoor

Gauge employee sentiment

Identify trends

Solicit feedback, if needed


ATB Pro Tip: Align With Mission and Values

•  Results-focused •  Trust and autonomy •  Empower employees to work how and when

works best for them


Step 2: Research Your Industry


Step 2: Research Your Industry Ranking on 1-5 Scale of

Benefits Criteria by Industry

Highest-Rated Benefits

Lowest-Rated Benefits

Highest-Rated 401(k) Plans

Highest-Rated Maternity/

Paternity Leave

Finance (3.7)

Business Services (3.4)

Finance (3.8)

Finance (3.8)

IT (3.7)

Retail (3.1)

Education (3.8)

IT (3.7)

Manufacturing (3.6)

Food Services (2.7)

Manufacturing (3.8)

Education (3.6)


Measure against competitors

Use competitive information to make the case for or against benefits changes


ATB Pro Tip: Consult with Other Orgs

•  Challenges and risks

•  Fallout effect

•  Wins and fails


Step 3: Preemptively Test Changes


Step 3: Preemptively Test Changes Launch an internal survey

Host a focus group from different areas of the organization

If you have limited capital, you can offer free/low cost perks to offset cuts or to enhance your current package:

•  Wellness Programs (gym discounts, team hikes, sports groups, meditation, yoga)

•  Volunteer Time Off (VTO)

•  Financial Education


ATB Pro Tip: Offer a Great Experience Piece


Step 4: Roll Out Changes


Step 4: Roll Out Changes Be thoughtful and transparent in your approach

Develop clear messaging

Train leaders

Provide an open forum for questions


ATB Pro Tip: Organize a Change Management Team

•  Provide clear vision

•  Train leaders

•  Communicate expectations and processes

•  Roll out in phases


Step 5: Monitor and Respond to Feedback


Step 5: Monitor & Respond to Feedback Update your company’s Glassdoor profile

Monitor feedback on Glassdoor

Continue the dialogue internally


ATB Pro Tip: Share Employee Stories

“ ATB cares for its employees. As a new employee, the banking benefits and preferred rates on mortgages and loans are show-stoppers! The flex benefits allow you to allocate your benefits to the health categories that you value the most. Employee hubs on each floor to enjoy free Starbucks coffee, watch hockey games with co-workers…the list goes on!!

ATB Financial Team members have shared their anonymous reviews about benefits on Glassdoor:







key takeaways

Q&A


Key Takeaways Top 5 benefits employees want most are health insurance, paid time off, pension plans, 401(k) plans, and retirement plans

Use competitive information to make the case for or against benefits changes to your senior leadership

Use a structured, thoughtful approach to rolling out changes

Use Glassdoor to showcase benefits to candidates and monitor employee sentiment as you look to make changes


glassdoor.com/research


Questions?



@adchamberlain

Lisa Holden Employer Communications Manager

at Glassdoor Linkedin.com/in/holdenlisa

@LisaAHolden

Kimberlea Kozachenko Senior Leader, Talent Attraction &

Acquisition at ATB Financial Linkedin.com/in/kimberleakoz

@KimberleaKoz

the benefits employees want most

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