What are Spanish companies offering to retain talent?

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Retaining certain professional profiles is becoming more and more complicated, especially in the technology sector. Companies struggle to attract the best workers and prevent their own from leaving, and the situation is reaching the point where some SMEs see their business continuity at risk because they are unable to hire experienced employees. Faced with this perspective, some companies that cannot afford to pay higher wages have opted for an alternative that is also in the interest of workers and is usually cheaper: offering more and more varied work benefits.

The table tennis in the office is no longer interesting. Being able to play a game of foosball with colleagues in the office was great, but workers have become more pragmatic. The crazy job benefits that came from Silicon Valley a few years ago are no longer so interesting, and employees now seek to improve their social and health coverage and be able to reconcile better.

According to the company specialized in this type of employment benefits CobeeToday, the benefits most in demand by Spanish workers are private health insurance, pension plans and retirement insurance. That, in addition, are the ones that companies in our country offer the most. Training, food and transport tickets are also very popular.

“Although these types of disruptive measures are not yet very widespread among Spanish companies, we do perceive a growing interest in getting closer to their employees and better meeting their expectations with them. The benefit plans allow this and, in addition, make the worker’s gross annual salary improve thanks to the savings in Personal Income Tax (IRPF). These compensations are perceived by 83% of Spaniards as a sign that their company cares about them”, explains a Cobbe representative to Xataka. The percentage has been obtained from the report 2022 Employee Benefit Trends made by themselves.

Reduction of working hours and unlimited vacations. Although the benefits that Spanish companies offer the most, and that workers are asking for the most at the moment, have to do with private health, training and pension plans, there is a small group of companies that is betting on others that allow employees organize their time as they wish, some as innovative as unlimited vacations.

Thus, for example, the main benefit offered by the Andalusian Software Delsol is the four-day working week. An increasingly popular advantage and that, as Xataka has learned, several technology SMEs are considering adopting to retain their workers given the impossibility of offering higher salaries.

Another striking benefit is that of unlimited vacations offered by Spanish companies such as Good Rebels, Xceed or Cyberclick, and multinationals with a presence in our country such as Netflix. Although, as we already explained in Xataka, this option can harm employees by creating inequality between them and, paradoxically, making them rest less.

Telecommuting is also a benefit. Other companies have incorporated telecommuting into their portfolio of benefits, either through a ‘full remote’ model (Sngular or Liberty Seguros) or a hybrid model (Telefónica, Orange or Rastreator, among many others), since this is the preferred option for entrepreneurs of our country).

Silicon Valley changes its job benefits with telecommuting: from table tennis in the office to psychological support at home

Mental health. Another new benefit, and one that is increasingly requested by employees, is some type of mental health coverage. According to the Cobee report, it is one of the trends for the future, and it is requested above all by workers from the Z generations (under 25 years of age) and Millennials (between 25 and 34 years of age). In Spain, companies like Glovo, Typeform or Sanitas already offer it to their workers.

Benefits based on age. Cobee’s study also shows that, depending on the age of the worker, he has a preference for some benefits or others. Among those under 34 years of age, for example, private healthcare, training, food and transport tickets or mental health prevail.

For people between 35 and 54, private healthcare and training continue to be important, but pension plans and retirement and life insurance are already making a strong appearance. And from the age of 55, Spaniards demand from their companies, above all, pension plans and health and retirement insurance.

Image | Conner Baker

Retaining certain professional profiles is becoming more and more complicated, especially in the technology sector. Companies struggle to attract the…

Retaining certain professional profiles is becoming more and more complicated, especially in the technology sector. Companies struggle to attract the…

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