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  • Are You Offering the Benefits That Candidates Want?

    February 08, 2017 | By NACE Staff

    Organizational Structure
    A recruiter goes over an offer of employment, which covers the benefits available to the candidate.

    TAGS: compensation, trends and predictions, surveys, nace insights, benefits

    Spotlight for Recruiting Professionals

    Is your organization offering the benefits that candidates are seeking? If it is providing employees with a company-matched 401(k) retirement plan and dental insurance, it indeed is offering the benefits new hires are most seeking, according to results of NACE’s 2016 Recruiting Benchmarks Survey.

    Students responding to NACE’s 2016 Student Survey rated company-matched 401(k) retirement plan (62.6 percent rated this benefit as “very important” or “extremely important”), dental insurance (59.6 percent), 100 percent employer-paid medical (53.2 percent), and tuition reimbursement (51.9 percent) highest among the benefits they are seeking. They also rated guaranteed annual salary increases (51.4 percent), family friendly benefits (50.3 percent), and life insurance (50.1 percent) highly.

    Meanwhile, among employers responding to NACE’s 2016 Recruiting Benchmarks Survey, nearly 94 percent offered company-matched 401(k) retirement plan (62.6 percent), dental insurance, and life insurance. (See Figure 1.) Tuition reimbursement and family friendly benefits were both offered by 80.5 percent of employers.

    However, 100 percent employer-paid medical insurance and guaranteed annual salary increases were ranked among the benefits that were least offered by employers at just 7.5 percent and 13.8 percent, respectively.

    NACE’s 2016 Recruiting Benchmarks Survey was conducted from May 24, 2016, to August 31, 2016, among NACE employer members; 233, or 24.6 percent, responded. Highlights from the 2016 Recruiting Benchmarks Survey are available on NACEWeb. Participating members can access the full report through MyNACE.

    Figure 1: Employer-offered benefits vs. student importance

    Benefit Percentage of Employers Offering Percentage of Students Rated Importance*
    Life insurance 93.7% 50.1%
    Dental insurance 93.7% 59.6%
    Company match for 401(k) retirement plan 93.7% 62.6%
    Employee assistance counseling program 84.9% 22.4%
    Tuition reimbursement 80.5% 51.9%
    Family friendly benefits 80.5% 50.3%
    Bonus commission plan 66.7% 37.7%
    Casual dress policy 62.9% 22.2%
    Frequent performance reviews
    more than once per year
    61.6% 31.0%
    More than two weeks of vacation for first year 54.7% 35.1%
    On-site fitness center 54.1% 18.4%
    Flextime policy 50.3% 33.3%
    Telecommuting option 41.5% 18.8%
    Guaranteed annual salary increases 13.8% 51.4%
    On-site daycare facilities 8.8% 11.8%
    100 percent employer-paid medical 7.5% 53.2%

    * Importance is defined as graduating seniors entering the work force who narrated these benefits as “very important” and “extremely important” in NACE’s 2016 Student Survey

    Source: 2016 Recruiting Benchmarks Survey, National Association of Colleges and Employers