We have had a massive focus on wellbeing recently at VLA, taking better care of ourselves to ensure we show up more consistently in our roles and be more present and proactive with our clients and candidates. This got us thinking, how are our clients and candidates looking after their wellbeing? Are wellbeing perks standardised within our clients’ businesses?
We decided to take a deep dive into the perks and benefits on offer from employers, and what Executive Assistants desire most when considering new opportunities. The top 4 benefits most desired by candidates are:
- Flexible working options
- Introduce cost of living savings
- Clear career progression pathways
- Wellbeing and Health benefits
The most desirable wellbeing benefit an organisation can offer is still flexible working, with over 50% of the workforce stating this is the benefit that is most important to them. Interestingly, within the finance sector, this benefit is 4th most popular benefit on offer, behind ‘Cycle to Work Scheme’ which is the least desirable benefit, with a mere 3.9% valuing it. Flexible working has a huge number of perks for your EAs, and in return, studies have shown that your assistant will present a higher level of job satisfaction, a higher level of commitment to you and your organisation and will most likely present an increase in discretionary effort towards their work. By incorporating flexible working arrangements into your benefits package, not only will you have a boost in productivity and morale, but you’ll find your retention rates increase as your assistants have a better work-life balance.
Health and wellbeing benefits, both physical and mental, are also highly desired by Executive Assistants and other staff across your organisation alike. We all know how demanding our roles can be, ensuring your assistant is focused is vital. By providing support through gym discounts or mindfulness and mental health apps you can help your assistant boost feel-good hormones and reduce stress! When looking for a new role, 80% of people seek workplaces that offer mental health benefits, such as employee assistance programs and mental health first aiders, so by not providing these benefits, your organisation may be overlooked by the best talent on the market.
Wellbeing is one of the most topical trends when discussing employee benefits, and rightly so. With turnover rates as high as 63% in professional services, it is vital that organisations update their employee benefits to match what candidates desire; in turn, reducing the high levels of employee turnover. By incorporating a generous and well-thought-out benefits package, you are likely to experience the following:
- Assistants feeling capable and motivated to go above and beyond.
- Reduced number of sick days and burnt-out employees.
- Lower stress-rates within the office, making a more efficient and focused workforce.
- Increased morale and commitment to the business.
In conclusion, enhanced financial wellbeing benefits leads to a reduction in an overall employee turnover, and this includes your assistants. Competitive salaries are no longer enough to encourage the best talent into your business. Additional perks and benefits are something Executive Assistants and potential candidates are adding to their pros and con’s list when considering offers and new positions. It is not uncommon to see candidates turning down fantastic positions with high salaries due to the benefits on offer from other companies. When looking at your planned on-boarding for the year, it is worth considering re-vamping your company benefits also to ensure top tier candidates are knocking at your door.