Offering inside look to benefits can aid hiring, retention

Glassdoor, the online reference point where employees are able to dish out reviews of their current employers, has revamped its jobs and career community to include more information on company benefit packages and perks.

As companies seek to find better avenues to attract and hold onto key talent, what can be better than providing an inside look at health and wellness, vacation time, family accommodations, retirement and professional support benefits? Will Staney, Glassdoor’s head “talent warrior,” says that this new opportunity can serve as key branding tool in the fight for talent as the 25 million members utilizing his company’s Web resource can compare and contrast to their liking.

“The benefits package is such a differentiator in a hiring negotiation that we expect companies will embrace this,” Staney explains.

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Citing Bureau of Labor Statistics data, Staney explains for every 69 cents that employers fork over in salary to their workforce, they spend another 31 cents on benefits. Also, studies have shown that having better benefits can offset lower pay in most situations.

“By allowing employees to share information about their benefits packages, and offering employers the opportunity to showcase their benefits packages and verify what they offer, we’re making it easier for the right candidate to find the right company, and vice versa,” Staney explains.

Glassdoor rolled out its benefits tool as well as a new benefits review option on its online platform. On top of rating benefit options, employees can disclose what benefits and workplace options are offered. Also, employees can comment on benefit packages as if it they were reviewing service at their local eatery. And allowing this open conversation online can be a good thing for potential employees as well as company HR and hiring managers.

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“As with all reviews on Glassdoor, we believe more information is better for both companies and candidates,” Staney tells EBN. “Candidates get the benefit of understanding exactly what benefits are offered and whether current employees are happy with them. Employers get the chance to showcase their benefits both to candidates and to current employees and to get honest feedback from employees about the benefits they spend so much money on.”