What do Spanish companies offer to retain talent?

Retaining certain professional profiles is becoming more and more complicated, especially in the technology sector. Companies are struggling to attract the best workers and prevent their own from leaving, and the situation is reaching such a point that some SMEs 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 opted for an alternative that is also in the interest of workers and which is generally cheaper: offering increasingly varied social benefits.

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

According to the company specializing in this type of social benefits Cobee, today the benefits most demanded by Spanish workers are private health insurance, pension plans and retirement insurance. They are, in addition, those that the companies of our country offer the most. Training, food and transport tickets are also very popular.

“Although these types of disruptive measures are not yet widespread in Spanish companies, we see a growing interest in getting closer to their employees and better meeting their expectations with them. Benefit plans allow this and, in addition, improve the gross annual salary of the worker thanks to the savings made on personal income tax (IRPF). These compensations are seen by 83% of Spaniards as a sign that their company cares about them,” a Cobbe representative told Xataka. The percentage was obtained from the 2022 Employee Benefits Trends report prepared by themselves.

Reduced working hours and unlimited holidays. Although the benefits that Spanish companies offer the most, and that workers are asking for the most right now, are private health, training and pension plans, there is a small group of companies that are betting on other which allow employees to organize their time as they wish, some as innovative as unlimited vacations.

So, for example, the main advantage offered by the Andalusian software Delsol is the four-day working week. An increasingly popular perk that, as Xataka has learned, several tech SMBs are considering adopting to retain workers given the inability to offer higher wages.

Another striking advantage is that of the unlimited vacations offered by Spanish companies such as Good Rebels, Xceed or Cyberclick, and multinationals 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, making them rest less.

Telecommuting is also an advantage. Other companies have integrated teleworking into their benefits portfolio, either through a “full remote” model (Sngular or Liberty Seguros) or a hybrid model (Telefónica, Orange or Rastreator, among many others). ‘others), as this is the preferred option for entrepreneurs in our country).

Mental Health. Another new benefit, increasingly requested by employees, 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 demanded by workers from Generation Z (under 25) and Millennials (between 25 and 34). In Spain, companies like Glovo, Typeform or Sanitas already offer it to their workers.

Benefits according to age. The Cobee study also shows that, depending on the age of the worker, he has a preference for certain advantages or for others. Among those under 34, for example, private health care, training, transport and catering tickets or mental health predominate.

For those aged 35 to 54, private health and education continue to be important, but pensions and life and retirement insurance are already making a strong appearance. And from the age of 55, the Spaniards demand from their companies, above all, pension schemes and health and retirement insurance.

Picture | Conner Baker

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