Competing for workforce talent in the Boston Metro can be daunting. Companies like Hubspot, TripAdvisor, Wayfair and iRobot call the Boston Metro home, with lavish offices and on-site perks that rival anything in Silicon Valley. But does your company need a giant slide in the lobby to attract new hires?
According to a nationwide survey by Glassdoor, the answer is no. While an indoor mini-golf course can be fun, applicants tend to look past the office amenities and zero in on what’s really important. Here’s what Glassdoor found:
68% of surveyed employees said that salary and compensation is their number one concern. It should be noted that the Boston Metro outperforms most other major metropolitan areas when it comes to wages. According to Indeed, the average salary in Boston is $72,000. As of January 2016, Boston was only beat by New York City and San Francisco, each having an average salary of $78,000.
Here are more findings from the employee survey:
- 40% said that healthcare coverage was most important.
- 37% rated vacation and paid time off as most important.
- 35% sought performance bonuses and financial incentives above salary.
- 32% rated paid sick days among their top concerns.
- 31% said retirement plans and pensions were most important.
Aside from these common concerns, surveyed employees also said that company culture, values, leadership quality and career growth opportunities were highly important considerations. Employees are more apt to stay with an employer who makes them feel valued as individuals, rather than mere cogs in the machine. Millennials are especially concerned with an employer’s corporate citizenship and worldview. “Green” companies also ranked high among Millennial preferences.
Of course, employees enjoy comfortable office space and pleasant working conditions, too. But how a company treats its customers and its workforce will say more about its character. On this basis, a small business can do just as good – if not better – than a large company.
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