3 Job Benefits Every Engineer Wants
Sure, salary matters when trying to hire and retain the top engineering talent, but don’t forget about offering a robust benefits package. In fact, some engineers, especially those from younger generations, feel certain perks matter more than annual pay. Being generous when it comes to benefits ultimately plays a big role when trying to foster the right culture at your company.
Let’s look more closely a few job benefits desired by today’s engineer. Consider offering them to ensure your organization is doing what it takes to attract the best. They also help keep your current team inspired, engaged and professionally satisfied.
Flexible Options for Health Insurance
Health insurance remains one of the most important benefits offered by employers, no matter the industry. However, professionals who work in technical fields, including engineering, expect something more than a generic HMO with a small network. Additionally, companies need to show generosity by covering a significant portion of the monthly premium.
Offering employees options and flexibility with their health insurance options is another wise approach. Consider providing choices that include both PPOs and HMOs, with a health-savings account included if desired. The size of the network should be as large as possible to cover employees when traveling.
Adding dental and vision coverage as additional options is another smart idea, especially for employees with families.
A Robust 401(k) Program With a Generous Matching Policy
Engineering companies must offer a chance for their employees to save for retirement. A 401(k) is still the best option for this, as the days of pensions in the private sector are long over. Any plan should provide multiple investment opportunities, tailored to whether someone wants to be aggressive or conservative with their portfolio.
Providing stock options as one of the investment vehicles within the plan is another good idea. A generous employer matching policy also needs to be included. This helps with the retention of your top engineering talent.
Don’t Forget Life Insurance
Tech organizations also need to offer basic term-life insurance to their employees. This helps their families in the event of a tragedy. Making additional term life insurance available on a voluntary basis helps extend coverage to the rest of the family if desired.
Also consider providing disability insurance to cover your employees whenever unexpected downtime arises.
If you need advice on attracting the top engineering talent, speak with the experts at Digital Prospectors. As one of the leading technical staffing agencies in Boston, we provide great candidates able to contribute to your success. Schedule some time with us soon.