Since COVID, we’ve seen an ever-increasing rate of employees quitting their jobs, especially due their lack of employee benefits. The reasons for this trend vary, but one thing is clear: if you want to compete with other companies for talent (especially millennials and Gen Z), you need to find creative ways to attract top talent. Research shows that it’s no longer good enough to pay someone a competitive salary. People are looking for something extra that makes their life easier and productive.
Sweetening your employee benefits program can help you attract and retain top talent, giving you an edge in the talent war. It can also help create an engaging and happier work environment where employees want to stay.
In this article, we’ve compiled a list of some of the more unique employee benefits that your employees will love. But before we dive in, let’s quickly distinguish between traditional and non-traditional benefits.
Read on to learn more about this topic! Click on the sections below to jump right to your specific question.
- What Is the Difference Between Traditional and Non-Traditional Benefits?
- What Is the Business Benefit of Offering Non-Traditional Employee Perks?
- 31 Unique Employee Benefits that Employees will Love
- Wrapping Up
What Is the Difference Between Traditional and Non-Traditional Benefits?
Traditional employee benefits are those that have been around for decades. These are typically the standard medical and healthcare coverage, retirement contributions and company stock options that many employers offer.
Non-traditional benefits are perks created in response to a shift in society. These benefits consist of anything else not traditionally found in an employment contract.
Examples of non-traditional benefits include services like on-site dry cleaning, free snacks and beverages in break rooms or pantries stocked with healthy and organic options.
What Is the Business Benefit of Offering Non-Traditional Employee Perks?
Traditional benefits are not enough anymore to attract the younger generation, who, in fact, make up the largest percentage of American workers. Many companies have created custom, non-traditional perks that resonate with that group.
While most of these benefits may seem fun or ridiculous at first glance, there is much business sense behind them. Undoubtedly, they make you look like a fantastic employer.
They also:
- Reduce recruitment costs by decreasing employee turnover rates. Replacing an employee can cost a company up to 2.5 times the employee’s annual salary.
- Increase morale which leads to greater productivity. Boosting an employee’s morale directly impacts their level of engagement which then affects their productivity.
- Boost employee satisfaction. Happy employees are more energetic, innovative and creative. They are also less stressed and healthier, contributing to the company’s overall success. On that note, here are 10 ways to keep your employees happy & engaged!
- Promotes a better corporate culture. A positive organizational culture encourages positive behavior, promotes a better corporate image and boosts employee engagement.
All these factors affect a company’s productivity and profitability. But, you don’t have to offer every non-traditional benefit to achieve your goals. The following list provides some suggestions for implementing out-of-the-box perks to set your company apart.
31 Unique Employee Benefits that Employees will Love
1. Fertility assistance
Fertility care is inaccessible to many U.S citizens because of costs. Employees with fertility challenges may need an extra boost to cover fertility treatment costs that their insurance provider doesn’t cover. You can also help your employees with surrogacy costs or egg freezing if that’s a viable option.
2. Parental and family leave policies
Childcare experts at UNICEF (United Nations Children’s Fund) maintain that the first 1,000 days of a child’s life have a lasting effect on their wellbeing. The average maternity leave is 12 weeks, but in reality, the family needs more time with the newborn or newly adopted child.
Let new parents take as much time off as they want after the birth or adoption of their children without repercussions, such as lack of promotions and wage increases, during this period.
3. Mental health support
26% of Americans suffer from a mental health issue annually. Offering your employees mental health assistance through reduced-cost counseling sessions, online therapy services, and confidential consultations with a psychiatrist can benefit both them and you.
4. Pet-friendly workplace
Over 70% of American households own at least one pet. The relationship between pets and their owners is often similar to that of a child with their parents. 59% of pet parents feel guilty when they cannot spend time with them regularly.
Create a pet-friendly office with designated areas like “doggie daycare,” waste stations and indoor dog parks.
5. Kid’s college assistance
College costs are rising, and students are carrying more debt than ever before. Consequently, offering college assistance is an excellent way for employers to provide security for families that might not otherwise be able to afford it. You can help by setting up a 529 plan or scholarship fund for your employees’ children.
6. Personalized appreciation notes
Personal recognition by senior management is vital for many employees. 37% of respondents in a recent survey said regular personalized recognition can help them improve their performance at work. Surprisingly, a recent Gallup poll discovered that 65% of employees had received no recognition the whole year.
Go beyond the customary gift card by regularly sending personalized appreciation notes to employees. You can also send shoutouts on social media or handwrite a thank you note.
7. Work anniversary celebrations
Acknowledging employees who have been with the organization for an extended period is a great way to boost their morale. These celebrations might be on the one-year, five-year or even 10-year mark of employment.
Set up a lunch or coffee date with them so they can tell their stories about how they’ve seen your company grow over time.
8. Free food and drinks
Who doesn’t like free snacks, candy, coffee or beer? Google is famous for its on-site amenities, such as cafes that serve a wide variety of foods, from healthy options to desserts. Even if you don’t have Google’s financial muscle, you can customize your food and drink offerings to incentivize your employees.
For example, you can order lunch or surprise your team with coffee and donuts twice weekly. Alternatively, take the team out for lunch or dinner monthly.
9. Surprise days off
Appreciate your employees for their energy, effort and time at work. Give them a day off when they hit major project milestones under budget and on time. Dismiss them early on a random Friday evening or when a long holiday is coming up.
10. Relocation assistance
Uprooting family, friends, and home without some help when starting a new job is difficult. Offer to pay your employees’ relocation expenses. Provide an apartment while they find a permanent residence, or offer to pay a percentage of their rent until they are settled into a new place. Use 9Kilo’s list of the best 10 movers and packers in the US to narrow down your options, save money, and streamline the relocation process.
11. Co-working space stipend
Loneliness is a major downside of the hybrid and virtual business landscape most companies are operating in. Employees can feel isolated from society with all of their friends and co-workers spread out across different locations. For some people, being lonely can even lead to depression or anxiety.
Combat this problem by offering co-working stipends for remote employees.
12. Company subsidized or fully-funded education opportunities
94% of employees would stay longer with a company that invests in their careers. As the job market changes, employees are looking for companies that will help them upskill, reskill and advance their careers.
Offer your employees access to free courses every month. You can also offer them decent reimbursements for learning a new language for work, taking leadership classes, earning an MBA etc.
13. Employee assistance programs
An employee assistance program is an employer-sponsored benefit that provides emotional and practical support to employees when they experience life challenges. Benefits of EAPs include a higher rate of employee engagement and life satisfaction.
Implement an employee assistance program to help employees with family issues, alcohol and substance abuse, financial planning, and mental health.
14. Corporate wellness and fitness programs
A healthy workforce can make a massive difference for your organization. Some suggestions for wellness programs include providing subsidized gym memberships and regular access to massage therapy or acupuncture. You can also reward your employees for healthy activities, such as running, jogging, or biking!
Other ideas include an on-site gym with treadmills and yoga mats, healthy eating options in the cafeteria, and incentives for taking a sick day off when feeling ill.
15. Potlucks and bonding events
Employee bonding is an essential part of any company’s culture. It helps to build trust and camaraderie in a company.
Host potlucks, volunteer events or company picnics for employees to know one another and build relationships that will strengthen their workplace dynamic. It can also provide a space for new hires who are still adjusting to life in their new office.
An on-site eldercare program can offer daily or weekly respite, so caregivers are not exhausted from providing round-the-clock care.
16. Money management and financial planning services
Financial wellness includes more than just offering a 401k plan. It also includes empowering your employees with knowledge and information so they can make decisions that will lead to their personal prosperity and stability in life.
Connect them with financial planners for advice on investments, retirement, debt management, and budgeting.
Conclusion
Small but thoughtful and kind gestures have sufficient weight to change behavior. They make people feel appreciated for their hard work and help keep morale high at the office. Moreover, some non-traditional benefits do not cost that much to implement.
Customize your offerings to your employees’ needs and overall business strategy if you are strapped for cash. To be sure, conduct a quick self-assessment to identify budget-friendly perks that can help you stand out among the competition. Involve your employees in decision-making to ensure they value the benefits you want to implement.
