Perks are a hot topic for people in the workforce. It’s true that job security and high income always rank high for importance, benefits are swiftly becoming a deciding factor for many applicants. According to a 2016 study by Glassdoor, of the 2000 people surveyed, a whopping 75% described benefits a top consideration before accepting a position. The same survey revealed managers struggling to recruit top talent, illustrating a need for more-competitive benefits packages.
Accordingly, more companies are starting to include more benefits than before. These may include extra vacation days, childcare, paid volunteer time, or company-paid lunches. Companies are getting creative, creating unprecedented benefits packages for recruiting and retaining talent.
Next Generation Healthcare
The future is happening today. Some top companies are starting to include DNA screenings for detecting genetic and health anomalies early on. These kits cost the average consumer several hundred dollars apiece, illustrating the sheer amount of capital these giants are willing to pay for employee satisfaction. It isn’t hard to imagine the costs for companies with staff in the thousands, only hard to imagine paying it.
Childcare costs are prohibitively high for many parents trying to enter the workforce. This leads to more parents staying at home, removing their skill and talent from the workforce. Today, companies are courting parents with attractive childcare and schooling benefits. 5th Third Bank employees receive pregnancy concierge services, and the staff at SAS of North Carolina can concentrate knowing children are safe within any of the company-inclusive daycare solutions. Happy employees perform better, and great benefits bring top-talent into the fold.
Health and Wellness Services
Some employers take employee health and wellness to the upper-level. Alliance Healthcare team members receive holistic massages on Mondays. The company estimates spending $3000.00 monthly on this program alone, and it’s money well-spent. Alliance firmly believes this improves employee satisfaction, health, and performance. As an added bonus, employee retention has been linked to massage Mondays.
SHI International General Supervisor Phil Wilhelm says the company spends about $50,000 each year on health programs. These range from Yoga Thursdays to Camp Gladiator Tuesdays. On top of physical fitness and health, these events create and strengthen employee relationships and contribute to a team atmosphere. Lola includes a nutrition program for the staff of 53 employees, inclusive of training and nutrition counseling for staff.
Vacation days are great, yet many employees lack the ability to enjoy it. Companies like BaseCamp want employees to have fun, granting each employee $5000.00 in vacation pay each year. Betabrand, using a lottery, grants flyer miles to one staffer every 4-6 weeks for a company-sponsored trip. This is similar to the program at Dialpad where employees vote among each other to award an all-expenses vacation to the winner.
G Adventures gives a complimentary vacation to all permanent employees after completing a year with the company. The company wants staffers familiar with the programs, encouraging travel. Staffers can choose paid-trips up to $2,500, with additional air travel reimbursement up to $600.00.
For some time, many company benefits packages included student-loan payback programs to help employees overcome college loans. Today, innovative companies are placing a new spin on this concept. Continuing and further education is the new way to attract, retain, and build company talent.
Argentinian software giant Belatrix includes language training for employees and attributes low attrition rates to it – some of the lowest in the technology industry. CreditKarma has courses for and by staff members including valuable coding, negotiation, and management courses for staff. Courses by employees for employees fosters a positive mentor-student environment.
The only limits to engineering benefits are creativity and capital. Top companies recognize the importance of recruiting and keeping top talent. Employees have choices. Stay current and stay competitive with attractive employee benefits.
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