How to Create a Student-Friendly Employee Benefits Package

Aside from salary, many prospective employees look at the total benefits package. This is especially true for student employees. They have tight budgets, so a benefits package that helps them with certain costs can be useful and would attract them to your company. Creating a student-friendly employee benefits package will help your company in the long term.

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Growth opportunities

While this is not a traditional benefit, students want to work in companies where they can see themselves grow. This often looks like promotions to higher roles within the company. It may also be beneficial to have a mentoring program for student employees to participate in with employees who are more advanced in their careers. Students are likely going to school to work in your company’s field, so having growth opportunities allows them to have new ways of learning about the field.

Compensation

The cost of everything has increased significantly in recent years. This makes things especially difficult for students, who are already struggling with tight budgets. When they are looking for jobs, they want compensation that is fair for the work they are doing and will give them enough money to make ends meet. While costs can be offset by other benefits, like free meals in the office during work hours, it is still important that compensation is enough to help with other expenses.

Flexibility

Being flexible with college students is a must. From flexibility with schedules with classes to flexibility with working remotely, college students need to know that their employer is willing to work with them and be flexible when needed. This benefit is one of the most important for college students since they have a lot going on outside of work. They may have classes in the middle of the work day or need to rework their schedule for exams.

Letter of recommendation

As great as it would be to keep your student employees with your company after they graduate, they may want to move on, especially if their family is in a different location. Offer a letter of recommendation to students who may be applying to other positions after graduation. This way, they have a competitive edge for being employed. Be sure to make it personal and highlight their achievements and the work they did for your company. Make sure the student will be able to use it for multiple applications if needed.  Having a letter of recommendation already guaranteed will make the student employee’s life easier.

Provide optional add-ons

You likely have employees who are not students. As such, it is likely they will not need the same things that your student employees will need. Not every employee will desire a gym membership, but your student employees might want a membership, especially if their college does not have a gym or wellness facility built into their campus. Students may not need certain family benefits that other employees have access to. Having a flexible benefits program where employees can pick and choose what they need will help students get what they need.

Paid time off

Even if student employees are only working part-time, they still want paid time off. This allows them the ability to take breaks when they need to without having to worry about the financial consequences. Paid time off includes vacation, personal, and sick time. Students need time to rest and rejuvenate with everything they have going on. This is especially true if they get sick. Encourage students to use their accrued time off so they can take care of their physical and mental health. Avoid unlimited time off benefits, as these often do not benefit employees.

Retirement planning

Students may have tight budgets, but they still want to start thinking about retirement planning. They want to save for after retirement, but may feel unable to without their retirement benefits. Having a retirement account that they can put part of their paycheck into, even if it is just a little bit, can help them save for their future. It gives them power over their future. Many employers offer matching to employee contributions to retirement accounts, which can incentivize them even more. Being able to set aside just a bit of money each paycheck allows them to save for their future.

Commuter benefits

College students often commute to and from campus and their jobs. Many rely on various forms of public transportation or rideshare apps as a part of their commute. A lot of ridesharing or public transportation options offer commuter benefits that employers can take advantage of. Being able to offer these benefits can help students save money, which helps their already tight budget by allowing them to put more money in their pocket, not towards commuting. This allows them to focus on work and school, not finances as much.

Offering student employees benefits that fit their lifestyle will encourage them to work for your company and will help them with their lifestyle.