A great salary is one thing, but if you want to attract top-level talent, you need to offer great benefits, first and foremost. Prospective employees care more about benefits than they do salary, and you’ll lose the best candidates out there if your benefits package pales in comparison to your competitors.

Salary isn’t as important as you think.

Salary. It seem like it’d be the biggest motivating factor in applying to a job. Who wouldn’t want more money? Wouldn’t a highly qualified employee apply to the companies offering the huge salaries that fit their talent level? Back when the economy was stronger, this might have been more of the case. But things have changed; top-level talent, like everyone else, worries about financial stability. They’re looking for businesses that recognize the importance of offering benefits in addition to offering a competitive salary.

Skimp on your benefits and you’re positioning your brand as cheap at best, greedy at worst. Do so and those cream-of-the-crop employees -- the smart ones -- will go after the businesses who actually recognize their value and offer competitive benefits packages. You’ll still attract talent, but more so people who are desperate for a job, not necessarily the most qualified employees.

Health concerns are huge.

Health insurance isn’t just some added perk; it provides people with peace of mind and helps those with serious health issues from taking huge financial hits. For this reason, a quality health insurance plan is of huge importance to a good majority of job seekers.

Frank Kasimov, director of Business Insurance Quotes, says “One of the most common types of requests that we receive is for quotes on health, dental, and vision insurance. Business owners want to make sure they are putting their best foot forward to attract top-of-the-line employees and that means having comprehensive medical insurance.”

Even those with big salaries can end up bankrupt as the result of a massive injury or illness, so a large salary in itself is not enough to ease the minds of most potential employees. A solid group health insurance plan, on the other hand, will provide job candidates with the peace of mind that they’ll be able to handle health issues that come their way without ending up with endless amounts of unpaid medical bills.

You’ll show candidates you care about your employees.

When seeking out a job, candidates are looking for businesses where they will feel valued by their employer. A solid benefits package will show candidates that you actually care about your employees. Job candidates know how expensive it can be for businesses to provide great benefits for their employees. By making this investment, you’ll show that you actually care about your employees. This will be a good indicator to candidates that their experience at your company will be a good one, and they’ll be more likely to seek you out.

Your reputation matters. If you treat your employees right and offer a group insurance plan and possibly other benefits, you’ll be known in your industry as one of the good guys. Over time, that will help you build a reputation as one of the companies to seek out.

Other types of benefits that will position you as a business that values its employees include:

Paid sick leave
Paid vacation time
Life insurance options
Employee lunches, gym, other perks

You’ll be seen as a stable business.

Job security plays a huge role in whether or not top-level talent will apply for your open positions. If you are seen as a company that doesn’t bother to offer quality benefits, you might appear unstable to some candidates. Prospective employees might think “Hey, if these guys can’t even offer decent benefits, just how financially stable are they?” This might inspire some great candidates to seek out other companies that appear more “viable.”

Wouldn’t you feel more confident applying for a job at a business that had the ability to offer their employees quality benefits, businesses that clearly were in a good place financially? Offer good benefits and you’ll instill confidence in job candidates that you aren’t about to go under but are a business that’s here to stay.

Long-term needs.

Your employees are real people with concerns about their health, family, and future. A great salary might help you retain employees for the short-term, but if you want people who will be with you for the long haul, you need to be able to provide benefits that help them achieve a more stable personal life.

When people look for a job, they’re looking for a situation that will help them achieve a more stable, healthy, and fulfilling life. A solid health plan and other benefits will provide them with peace of mind for a long time to come. That is priceless.

Communication is key

Because of the importance of benefits in acquiring top-level talent, you will need to communicate your offerings effectively up front. Due to the specific nature of each candidate’s circumstances, you won’t be able to go into too much detail, but you should provide as solid an overview as you can upfront.

Don’t gloss over the benefits you offer and just say, “Sure, we offer group health insurance. Let’s talk about your communication skills.” No, put an emphasis on the benefits you offer. If candidates aren’t satisfied with your offerings, then it might be time to get new quotes on insurance for your business and up your game with regards to the types of benefits you provide. Consider their importance in the mind of your candidate. This can make the difference between them accepting your offer or going with another company who was more open about their benefits package.

Conclusion

Consider the big picture when deciding whether or not to offer good benefits to employees. In today’s day and age, a great salary alone isn’t enough to attract top-level talent. Invest in a group health insurance plan and other suitable benefits and you’ll attract a much more talented pool of candidates.