What do Spanish companies offer to retain talent?

Maintaining certain professional profiles is becoming more and more complex, especially in the technology sector. Companies are struggling to attract the best workers and prevent their employees from leaving, and the situation has reached the point where some small and medium-sized companies are seeing their business continuity threatened because they are unable to hire experienced employees. Faced with this prospect, some companies that cannot afford to pay higher wages have chosen an alternative that is also in the best interest of workers and generally less expensive: offering increasingly diversified social benefits.

Table tennis in the office is no longer interesting. Being able to play foosball with colleagues in the office was nice, but workers have become more pragmatic. The insane benefits that rolled out of Silicon Valley a few years ago aren’t so great anymore, and workers are now striving to improve their social and health coverage and their ability to get along better.

According to the company that specializes in this type of employee benefits CubanToday, the benefits most sought after by Spanish workers are private health insurance, pension plans and retirement insurance. This is, in addition, what most companies offer in our country. Training, food and transport tickets are also very popular.

“Although these types of disruptive actions are not yet widespread in Spanish companies, we are aware of a growing interest in getting closer to their employees and better meeting their expectations with them. Benefit plans allow for this, in addition to improving the worker’s annual gross salary through personal income tax (IRPF) savings. 83% of Spaniards see this compensation as a sign that their company cares about them,” a Cobbe representative told Xataka. Percentage obtained from report Benefits Trends for 2022 They made themselves.

Reduced working hours and unlimited holidays. Although the benefits offered by most Spanish companies, and whose workers are most in demand at the moment, relate to health, training and private pension plans, there is a small group of companies that bet on other companies that allow employees to organize their time as they see fit. , and some are innovative Like unlimited vacations.

So, for example, the main advantage that the Andalusian software Delsol offers is the four-day working week. An increasingly common feature, and as Xataka knows, many tech SMBs are considering adopting it to retain their workers due to the inability to offer higher wages.

Another amazing feature is the unlimited vacations offered by Spanish companies such as Good Rebels and Xceed or Cyberclick and multinational companies present in our country such as Netflix. Even if, as we have already explained in Xataka, this option can harm employees by creating inequalities between them and, paradoxically, make them less comfortable.

Remote work is also an advantage. Other companies have incorporated remote working into their benefits package, either through a “full remote” model (Sngular or Liberty Seguros) or a hybrid model (Telefónica, Orange or Rastreator, among many others), since it is the option A favorite of entrepreneurs in our country).

Psychological health. Another new benefit, which employees are increasingly requesting, is some type of mental health coverage. According to the Cobee report, this is one of the trends of the future, and it is especially in demand by workers from Generation Z (under 25) and millennials (between 25 and 34). In Spain, companies like Glovo, Typeform or Sanitas already deliver their workers.

Benefits according to age. The Cobee study also shows that, depending on the age of the worker, he has a preference for one benefit or another. Among those under 34, for example, private health care, education, food, transport tickets or mental health predominate.

For 35-54 year olds, private health care and education are still important, but retirement, retirement and life insurance schemes are already making a comeback. And from the age of 55, Spaniards demand from their companies, above all, retirement, health insurance and retirement plans.

picture | Conner Baker