New York City is known for bright lights and big dreams. It’s no wonder then that the metropolis is also a top destination for professionals across the nation and around the world.
The Big Apple boasts a rich, varied talent pool of world-class high-achievers and creative innovators. It’s an ideal place to start or grow a company, whether you’re establishing a start-up or refreshing your corporate culture.
Educated millennials are flocking to NYC thanks to the improving job market and diverse opportunities available. These smart, savvy workers view their jobs as a source of meaning and growth—not just a way to get basic medical coverage and take home a steady paycheck.
In fact, studies show that workers today value creative perks and benefits more than salary increases alone. And as the number of New York freelancers continues to grow, it’s important now more than ever to ensure your company is effectively promoting the advantages of a full-time position and the employee benefits it can offer.
If you’re ready to recruit and retain the best talent in NYC, here are tips for designing an employee benefits program to fit what young, healthy, busy New Yorkers desire the most.
Key Tips to Attract New York City’s Finest Employees
The stereotype that New York City is a place where people never sleep and constantly eat takeout has changed: New Yorkers are health fanatics. Many companies are taking notice by incorporating wellness into the workplace.
1. Create an irresistible culture that emphasizes healthy living
There are easy ways you can create a culture of well-being even if you don’t have the space to add an on-site gym. Offer pop-up fitness classes, massages, or other in-office services to help employees be healthier and more productive. You can also use benefits to reinforce your company values.
For example, if teamwork is a core priority, host a toy-building workshop or group mindfulness meditation; you can reinforce the importance of mental health by providing employees with access to highly trained therapists and coaches so they can better manage stress.
2. Make employee benefits a hassle-free experience
New Yorkers are constantly on the go, extremely tech-smart, and easily stressed. New York City job seekers expect a top notch, seamless employee experience that reflects their fast-paced lifestyle.
Simple upgrades—like using an app to submit insurance claims while walking to the subway, for instance—make a big difference. It allows active New Yorkers to spend more time focusing on work and personal life, and less time managing logistical hassles. Streamlining the lives of your employees is a key way to reduce turnover, especially in a competitive market like NYC.
3. Look out for your employees’ financial well-being
It’s no secret New York City is an expensive place to live: The median cost of a one-bedroom apartment is $3,340, second only to San Francisco. This means NYC employees are looking for innovative ways to control their finances. A Health Reimbursement Arrangement (HRA) can be an attractive benefit precisely for this reason: Unlike traditional health plans, HRAs cover routine care, then go above and beyond to offset costs related to vision, dental, and other health services. Saving time and money? That’s music to an NYC job seeker’s ears.
4. Appeal to a desire for growth
The most talented individuals have a love for learning. Millennial employees in particular want to join companies that support their growth, so give them a way to engage with the host of educational and cultural experiences the city has to offer. With a Lifestyle Spending Account (LSA), for example, employees can attend lectures, classes, and seminars that propel their professional skills and goals.
New York City continues to be an epicenter for the best talent and work ethic. You can effectively tap into this employee pool through tools that allow workers to live their healthiest, most productive lives. Just as NYC is home to about every type of person, so, too, can your employee benefits offerings support a diverse and ambitious community.
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