Why it Helps to Provide Your Team with Competitive Benefits
As the economy improves and the battle for top pharmacy talent heats up, it’s even more important that you provide competitive benefits to not only keep your superstars but to attract new ones.
Competitive salaries are important when it comes to attracting and keeping the best, but good benefits are just as important as offering good wages.
Become known for providing great benefits and word will get out about them. You’ll soon discover that it’s easier to find and land talented employees. Great benefits can also help you when it comes to your sales and marketing efforts because consumers appreciate it when a company provides these important perks to its workers. You’re seen as a caring enterprise and, if given a choice, customers prefer to do business with companies they feel are ethical.
Because employees are worried more and more about rising healthcare costs, the better health benefits you can offer and the more premium you pay will definitely give you a leg up when it comes to attracting pharmacists, pharm techs and other pharmacy employees.
Employees also love companies that provide pensions. The idea of having a set income month after month in retirement is extremely attractive, much more so than retirement programs that provide access to a 401(k).
Pensions, however, are becoming rare in the private sector, due to their high cost. Employers are increasingly moving to the 401(k) model. A hefty employer match of employees’ contributions to their 401(k) accounts is also looked upon favorably by workers. The more you can match an employee’s contribution, the better.
Offering more than the traditional two weeks of paid vacation time is also a perk valued by many people. In fact, some people value it more than a high salary. Offering three weeks of PTO seems to be the sweet spot when it comes to attracting top talent. If you can offer three weeks’ vacation time as well as separate sick days, the more this benefit will stand out.
While not as important, dental and vision care, flex time, membership to a fitness center, reimbursement for continuing education, and other “smaller” perks can really make your benefits plan the best of the best, particularly if you offer good health and retirement benefits.
The “war” for good pharmacy talent is only going to become more fierce as time goes on; a great employee benefits package truly can help you win this war.
When it comes to finding great employees, it’s wise to have a great staffing team at the ready to help. Here at Rx relief®, we source only pharmacy professionals. We’ve narrowed this focus to pharmacy so that we’re not pulled in different directions. Let our singular focus help you find top-notch pharmacy professionals. Contact us today.