Here are the 20 best employee benefits and job perks companies can offer:
Support your employees’ financial wellness by offering:
- Company equity
Offering employees a financial stake in your company is one way to attract top talent without having to compete on salary.
Company equity helps create ownership among employees who feel like they’re an integral part of your company’s future. Why? Because employees with company equity have a financial incentive in seeing the business succeed.
- Paid time off
One of the best ways to improve your employees’ work-life balance, mental health, and quality of life is by giving them paid time off. This should include sick leave, vacation time, personal days, or inner work days.
You can also give employees the chance to earn more paid time off based on the number of hours they work or years they’ve been at the company.
- Employee discounts, rewards, and bonuses
Employee discounts and rewards are a great way to offset living expenses and reward employees for their hard work.
This could mean offering your own products and services at a discount or partnering with other businesses for special offers. Offering performance bonuses is another great way to reward employees.
- Matching 401k contributions
401ks allow employees to deposit pre-tax dollars from each paycheck into a retirement account. Matching a set percentage of the employee’s contributions is a fantastic way to help employees save more money for retirement at a faster rate.
If your company can’t match contributions, consider offering extra retirement plan options like a traditional IRA or a Roth IRA. These options can still help supplement their 401k account and boost their retirement savings.
Education and career planning benefits
Support your employees’ future career and education by offering:
- Tuition reimbursement
Offering tuition reimbursement or some form of tuition assistance is a valuable benefit. Assistance can help offset employees’ education expenses. Plus, it also gives your employees the chance to acquire more skills and tools to better perform their job.
You can also offer a student loan repayment option to support your employees’ financial and mental health.
- Employee growth plan
Employees who can’t see a bright future with your company may end up unhappy, performing poorly, or leaving sooner than you expected.
Sitting down with employees to create their future growth plans can help motivate them. It can also boost their morale and give them hope for their future career.
- Career development training
Giving your employees the tools to succeed is one of the main pillars of employee satisfaction and engagement.
Offering paid career development training during work hours is a great way to do this. This way, employees can learn new skills without having to give up their personal time.
- Personal development training
Helping your employees reach their fullest potential makes for happy, productive employees.
Again, providing personal development training during work hours is a great option.
Personal development training helps employees become self-aware and more resilient to workplace stress.
Support your employee’s wellness by offering:
- Health insurance
Promoting healthy lifestyles and reducing illness is essential to having healthy employees. Healthy employees have fewer absences, are more productive, and are less prone to work-related injury.
Help your employees stay healthy by offering insurance with free check-ups and discounted care.
If possible, try to offer the following options:
- Health insurance
- Disability insurance
- Dental insurance
- Vision insurance
- Life insurance
- Flexible spending accounts (FSA)
- Health savings accounts (HSA)
- Reduced prescription drug costs
- Daily wellness options
Providing daily wellness options helps employees stay energized and focused throughout their workday. Try offering free tea, coffee, snacks, and water if possible.
- Complimentary lunch
Offering lunch during weekdays is a great way to keep employees and increase productivity. As lunchtime approaches, employees start to lose focus as they begin to think about the logistics of getting lunch.
Will they get stuck in a long line at a fast-food restaurant? What route will they take to avoid traffic? By providing a free meal at the office, you’re reducing these worries.
- Mental health clinical services and preventative care
In 2019, 83% of employers said they believed their company’s wellness program had a positive impact on worker’s health. And 84% believed their programs had a positive impact on productivity and performance.
Providing mental health clinical services and preventative care, such as therapy, coaching, and mentorship, is an important strategy in supporting your employees’ mental health.
- Relaxation spaces
Give your employees a safe space to relax and unwind during their breaks. This helps them refresh and re-energize so they can be ready to work when they return.
Employee recognition benefits
Help your employees feel acknowledged by offering:
- Employee appreciation programs
Help employees feel recognized for their efforts by creating an employee appreciation program. The type of program you use will depend on your company’s and employees’ unique needs.
For instance, you may decide to give gift cards to employees’ favorite stores when they finish a big project. Or you may decide to honor a work anniversary by sponsoring a public outing.
- Company parties during work hours
Celebrate company wins by hosting company parties during work hours. If your employees usually help customers face-to-face, consider closing your business to the public for a few hours. Or, you can have a party room where employees can enjoy the party when they’re not with customers.
- Flexible schedule
One of the best ways to give employees autonomy and encourage a healthy work-life balance is by having them set their own schedule.
If you can’t give employees complete control over their work hours, consider giving them other options such as:
- Working mornings, afternoons, or evenings
- Alternating between closing and opening shifts
- Having an extra day off every month
- Leaving work early every other Friday
- Work-from-home option available
Giving employees the option to work from home helps them feel in control of their surroundings. It also gives them a greater sense of creativity and energy.
Remote workers are also slightly more satisfied with their work and are equally as productive as onsite workers.
- Onsite relaxation services
Treat employees with relaxation services by having relaxation experts perform services onsite. Some relaxation experts include massage therapists, meditation teachers, and reflexologists.
Family care benefits
Support your employees’ family planning needs by offering:
- Family planning services
Offer a comprehensive benefits package by including family planning services.
Help employees that want to grow their families with:
- An adoption benefits plan
- An IVF benefits plan
- A surrogacy benefits plan
- Paid parental leave
- Child care assistance/reimbursement
With monthly child care costs sometimes equalling as much as a mortgage bill, some employees won’t be able to return to work after having children. Furthermore, this financial burden has weighed even heavier on parents since the pandemic.
As Americans transition out of quarantine, 96% of parents believe it’s important for businesses to provide additional financial support for childcare.