Younger female employees are attracted to the virtual model, too. And there are more benefits intended to appeal specifically to women. In some cases, investing in inclusive employee benefits and perks can help you attract and retain candidates from underrepresented minorities. Although compensation is still the main driver for job satisfaction for both women and men, studies show that women value work-life balance and professional development incentives more than men. That means women are promoted at the same rate as men, and are supported through peer and mentoring groups like [email protected] and Google Women in Engineering. Women are great to inspire and motivate employees at workplace. Get specific about when and how to close out administrative checkpoints for the end of the year, and delegate responsibilities accordingly. In todays hiring market, a generous benefits package is essential for attracting and retaining top talent. This is especially true for women in tech and engineering companies, where fewer female graduates in technical degree areas mean fewer qualified women entering the workforce. The worldwide consulting services firm has a well-established women’s network, and professional growth knows no bounds -Deloitte boasts its own university, a fellowship program, women’s leadership development programs, and a buddy system that matches up-and-coming women with mentors for up to two years. Check out this list of the top eleven companies offering the best employee benefits for women. And sweeten the pot with innovative, health-oriented benefits that appeal to women and have a disproportionate impact on job satisfaction. Realizing that, Accenture made “belonging” a centerpiece of its strategy to attract and retain more female employees. When it comes to the best benefits for attracting women applicants, the answers may surprise you. More employers are offering family-friendly benefits like paid maternity leave and fertility services to attract and retain employees. With a woman owning the CEO suite, Deloitte knows a thing or two about identifying and promoting female leaders. The biggest benefit for mothers here is the work-life balance. The latest trend to attract and retain women is the provide more benefits that arenât tied directly to childbearing and raising. 10 Employee Benefits to Attract Top Talent Photo: Photo by Hunters Race on Unsplash If you are a business owner, you know that it's the right people who will set things in â¦ Other benefits that appeal to women include paid maternity leave, lactation rooms for nursing mothers, onsite daycare and childcare allowances. The consulting and services company allows traveling moms to express-ship breast milk to their babies back home, and offers them a range of flex-work options, like compressed work weeks and reduced hours. Empower Female Employees to Shape Company Culture Startup land has become famous for offering a fraternity-like atmosphere: free beer, video games, and personalized hoodies. Do you have a philosophy when hiring and building a team? Ensure female leaders have the experiences and the resources to learn what they need most. ... For female candidates, make sure key benefits such as flex time and education are part â¦ Employees can get creative with their schedules and even take sabbaticals for personal reasons. See also: Does Sexism in the Workplace Still Exist? New moms receive sixteen weeks of paid maternity leave, and generous adoption benefits. The salary allotment plan is a voluntary payroll deduction program, allowing your employees to purchase life insurance and/or annuity products. All rights reserved. New moms (and dads) receive "baby bonding bucks": a chunk of spending money to help pay for start-up baby costs, and, in the U.S. mothers receive five months of 100 percent paid maternity leave. Alternative schedules, including remote and mobile work options for working moms are common. Accenture Just Upped The Ante On Benefits For New Moms And Dads. Breast milk shipping services? Many women are pushed out because of lack of leadership opportunities or pulled out due to family responsibilities. Female-friendly benefits also help keep valued employees where you want them â¬â¬Å at your company. Though women make up 47% of the American workforce, this number dwindles the higher they move up in the ranks. With the coming of women to the workforce, the management has to bring several new programs and changes that benefit both males and females. There are also a new crop of health, wellness and work/life balance benefits that appeal to women and arenât tied to reproductive health and family care. Work-from-home Wednesdays are a norm in the company, but many telework more than that. For reprint and licensing requests for this article. A solid employee benefits package can help to attract and retain talent. Training and employee development top the list, supported by P&G’s many training programs, varied assignments, generous tuition reimbursement, and the Corporate Women’s Leadership Team (CWLT), a group that advances mentoring and sponsorship for potential female leaders. See also: What is the Gender Wage Gap and How Does it Affect the Workplace? This global audit, tax and advisory services firm starts grooming female employees for leadership early on. When you treat sexual harassment and gender discrimination with the seriousness these matters deserve, you create a positive environment for the working women in your company. ... employee wellness programs should be seen as a strategic move and not just a benefit. When attracting top talent, emphasize development opportunities in the job description. Anything that is going to help make everyday life easier for your employees will make your company one that mothers will want to work for. Attract and keep female talent. Marriott is committed to promoting from within and does so through a host of employee development programs. Eliminating that disparity makes a big difference to job applicants. The study also found that 80% of employees would choose additional benefits over a pay raise. But EY stands out as a company that "gets it" when it comes to work-life balance. The wealth management firm says the pandemic has proven how invaluable the benefit is for retaining talent. Card payments collected by DeltaQuest Media, company no. Working in a professional-services company normally means crazy hours. Remember the breast milk thing? Women make up 32 percent of the FB workforce -that number has been steadily increasing, as have the number of senior female staff. According to Glassdoors 2015 Employment Confidence Survey, about 60% of people report that benefits and perks are a major factor in considering whether to accept a job offer. EY’s aggressive promotion of talented women is accomplished through a two-year leadership program, and an international professional women’s network. If you’ve never heard of these unusual employee benefits, you probably will soon. Use Your Benefits Package to Attract and Retain Employees For the majority of companies, people are the most important asset. But hereâs the thing: People spend the majority of their waking hours at work, and they want to â¦ Our Products. Moms get 4 months of paid maternity leave, a cash baby bonus and reimbursement for daycare fees. Some perks may seem extravagant, but companies aren’t dumb. With Tata Sons recently unveiling their enviable maternity benefits policy, the conversation around attracting and retaining women employees has resurfaced. Paid holidays and sick leave. When it comes to encouraging other team members around them or allow others to flourish as a more efficient employee, women are the best. Women, too, value fitness-oriented benefits more than men: yoga, Barre and spin classes are all gaining in popularity. Google is serious about keeping employees happy. 7.) Benefits are undergoing transformational change under the COVID-19 era, and what used to be a standard package 20 years ago may now be inadequate. Female leaders rule in this pharmaceutical firm, 60 percent of business units are headed by women. Within operations, along with transparent hiring and promotion practices, companies can focus on pay equity through transparent pay scales and by finding ways around the âmen negotiate and women do notâ challenge. When giving companies recommendations on how to offer benefits that will attract and retain female talent, Mead says companies often overlook the … While equal and fair salaries are hugely important factors, there are more ways that companies can attract and retain female employees within the tech industry. Crafting employee benefits packages that attract and retain women ... To nurture future female business leaders, it is vital they receive the needed support to wear any hat they choose. They study employee retention matrices carefully and know that female-friendly benefits attract talent and keep it at home. An Elite CafeMedia Publisher - Update Privacy Preferences. This can help them develop their skills, a benefit that 87% of millennials and 69% of non-millennials want. As a business owner, you know that you want to attract great employees. When you treat sexual harassment and gender discrimination with the seriousness these matters deserve, you create a positive environment for the working women in your company. For companies looking to attract and retain top female employees, the situation is complicated by an additional factor: For most of the 20th century, the unemployment rate was higher for women than men. Lifestyle Solutions The path to attracting and retaining top women employees in a hot job market is clear: Create a winning company culture that values, compensates and promotes men and women equally. In many cases, benefits improve with time such that employees are given incentives to stay with a firm. CareerAddict is a registered trademark of DeltaQuest Media. Work-from-home options: Forget Marissa Mayerâs gambit at Yahoo a few years ago, when she eliminated telecommuting, which she claimed was hurting productivity. The same goes for opportunities for advancement: women are underrepresented in management and board roles. Airbnb offers employees a $2,000 annual travel stipend (provided they stay at a venue listed on the Airbnb service). Working moms at Novartis can expect generous child care assistance and flexible work options. When it comes to determining how a company treats its female employees, women look for paid time off, respectful work environments, flexible work hours and salary satisfaction and equality. This work-life balance benefit is more popular than ever. Other innovations that appeal to women: Twitter, a leader in novel benefits, has introduced on-site acupuncture. Employee benefits. A free personal concierge to do your errands? They understand others’ emotions better and can appeal their unique needs more effectively, enabling them to perform better.