Employee benefits trends and how to up-level them
Sep 8, 2023
As we all know, happy employees make for a thriving workplace. And what better way to boost happiness than by offering perks that make their employee experience even better? That’s why we’ve gathered 10 top perks that employees want – and have included innovative ways to improve upon them.
In today’s world, flexibility is key. Giving employees the option to work remotely or have flexible hours promotes a better company culture and work-life balance, leading to improved job satisfaction.
An interesting twist? Job sharing! Only 1% of employees are doing it, despite the demand for it.
Access to comprehensive health insurance coverage is a top concern for employees. Knowing their healthcare needs are covered provides them with peace of mind.
How can you make it better? While some benefits are required by law, including transgender healthcare and telemedicine will provide more groups of employees with the care they really need.
Everyone needs a break now and then, which is why generous PTO policies are highly valued by employees. Being able to take time off without worrying about financial repercussions is essential for their well-being.
PTO+: Give a floating holiday to use for any reason during the calendar year, for employees to use for what matters most.
A retirement savings plan such as a 401(k) is highly valued by employees. It provides them with a sense of security and enables them to plan for their financial future.
Add a bonus: Matching employee contributions is highly prized: CNBC reports 62% of employees believe employer matches are important to reaching their retirement goals.
Promoting physical and mental well-being is a top priority for many employees. Wellness programs, such as gym memberships, meditation programs, or healthy snacks in the office, show employees that their employer cares about their health and well-being.
Enhance the workplace experience: Add services that give employees back time in their day – like gift wrapping services around the holiday, or travel planning before spring break. Plus, adding a Community Manager can foster belonging and build an inclusive culture, uniting all employees – remote and on-site — in purpose and well-being.
Employees appreciate employers who invest in their professional growth. Access to training, workshops and conferences allows them to advance their careers and feel fulfilled in their work.
How can you elevate? Provide leadership training such as conflict management and public speaking, to groom employees for YOUR leadership pipeline.
Being recognized for their hard work and achievements is important to employees. Employee recognition programs, such as bonuses, awards, or verbal praise, foster a positive work environment and boost morale.
How can you knock it out of the park? Formalize your recognition program. 69% of employees report that they’d work harder if they felt better appreciated at work, and 37% of employees consider recognition the most important factor for job satisfaction.
Commuting can be stressful, time-consuming and both mentally and physically taxing to employees. According to the Society of Human Resource Management (SHRM) 23% of workers in the U.S. have quit a job because of a tough commute. Providing subsidized transportation options or commuter benefits make it more manageable, and are highly valued by the employees who prioritize coming into the office.
Beef up sustainability efforts: With the high price of gasoline, LinkedIn reports carpooling is making a comeback, and risk sharing is on the rise! Encouraging and formalizing these initiatives, are good for both employers and employees alike.
The ability to take time off for family reasons is essential to many employees. Providing parental leave or other family-friendly policies shows employees that their employer values their personal lives as much as their work.
Redefine family friendly: Not all families are formed through birth, families created through adoption have the same needs. According to SHRM, only 34% of employers offer paid adoption leave. Offering adoption benefits can be life-changing and could be a deal-breaker when hiring top talent.
For some employees, leaving their furry friends at home when they go into the office can be difficult. Pet-friendly policies, such as allowing pets in the office, or providing pet care services, demonstrates to employees that their employer cares about their needs and happiness.
How can you offer a leg up: Offer pet insurance! Currently only 15% of organizations offer pet insurance. With most of us considering our pets members of the family, offering this perk can help attract and retain valuable employees.
Offering perks that employees want, can create a happier and more productive workplace environment. Taking them up a notch, makes your organization stand out when employees are looking for reasons to join or stay at your company.
Circles is an expert in helping organizations and their employees flourish together, we are committed to supporting companies in providing the perks that include work-life balance solutions. And with our 24/7 support available, our clients can feel confident in their ability to offer the best experience possible. Let’s make work-life balance and well-being a reality for everyone in the workplace!
