Nugget Markets Inc. employees
In a 2015 Glassdoor Employment Confidence Survey, about 80% of employees surveyed said they preferred new or additional benefits to a pay rise.
Apparently, the employees of today care a little more about pay. To them, salaries are more of a threshold than a scorecard.
Whether it's a healthcare insurance that offers some kind of cover in the event of an accident or illness to a basic office perk like a free lunch, or even the flexibility that lets an employee work from home, workers of today are asking for more than the traditional salary increase.
They want a job that offers the kind fulfillment and reward that makes them look forward to coming to work every day.
As an average employee spends more time at work than their own families, it makes plenty sense for any serious employer to ensure that they find the fulfillment they seek in the work they do and the benefits they get.
Whether by providing a collaborative work environment that focuses on employees' career growth or a workplace culture that lets them bring in their pets or good luck charm, every employer that's keen on keeping their best hands must go the extra mile to do just that.
Thinking of what extra perks to offer your team? I have compiled 10 of the best employee perks you can implement right away.
1. Office perks (e.g., free lunch)
According to the Glassdoor survey, 19% of the respondents preferred office perks like free lunch and the liberty to come to the office in casual wears to a pay rise.
An example of a Company using this:
Twitter.
Twitter provides three catered meals a day and has an overall benefits rating of 4.3.
The cool thing about providing a free lunch is that you don't do it yourself. With the emergence of food companies like SnackNation which delivers healthy snack to offices, you can take the stress of your neck while you focus on real work and staff engagement.
2. Healthcare Insurance (e.g. medical, dental)
Having a health insurance in place during a major accident or illness certainly, gives any employee some peace of mind.
According to the Glassdoor survey, 40% of polled employees wanted a health cover over salary increase.
In fact, this perk ranked the highest on the list.
Kimley-Horn and Associates, a design consulting firm, covers 100% of employees' healthcare premium and 90% of their dependents' premiums.
3. Paid parental leave (e.g., maternity leave)
While this employee benefit ranked 12th on the Glassdoor survey with about 13% of employees choosing it over a pay rise, it is one you should definitely provide to your team.
Spotify, a music streaming company, provides six months of paid parental leave, plus one month of flexible work options for parents returning to the office. The company also covers costs for egg freezing and fertility assistance.
Another major company, Pinterest, provides three months paid parental leave, plus an additional month of part-time hours, as well as two counseling sessions, to create a plan to re-enter the workplace.
4. Vacation/Paid time off
According to a report by GfK, “The High Price of Silence: Analyzing the Business Implications of an Under-Vacationed Workforce,” vacation helps employee overcome burnout and makes it easier to ask employees to log extra hours at critical moments.
Employees also concentrate better on their work and regain their creative spark.
Google employees start off with three weeks of paid time off and can work their way up to five weeks if they stay with the company for five years. Employees can also take up to three months of unpaid sabbatical.
5. Paid sick days
In an email interview with Slate, former President Obama argued that offering paid sick leave to employees, "isn't just humane, but also good business."
"Coming to work sick is bad for employees, co-workers, and customers alike. No one wants a colleague coming in and getting you sick. No one wants to be served by a waiter who's under the weather," he said.
If you ask me, offering paid sick days to your team certainly makes sense when 32% of employees (Glassdoor) prefer it to a salary increase.
What other perks can you offer to keep your best hands?
6. Tuition reimbursement
PwC offers its employees $1,200 per year for student loan debt reimbursement. Offering to pay up your employee's student loans is music to their ears, trust me.
7. Volunteer
World Wildlife Fund employees take Friday off every other week, also known as "Panda Fridays" at the nonprofit.
Salesforce employees receive six days of paid volunteer time off a year, as well as $1,000 a year to donate to a charity of their choice. The software company has an overall benefits rating of 4.5.
8. Look after a deceased employee's dependents
One major reason while Google remains one of the best places to work is the company's awesome employee benefits. The Tech giant provides the surviving spouse or partner of a deceased employee 50% of their salary for the next 10 years.
9. Give your employees opportunities to learn new things
Epic Systems Corporation offers employees a paid four-week sabbatical to pursue their creative talents after five years at the company.
10. Ask your employees what specific benefit they want
Don't assume you know what your employees want. Ask them instead. Conduct a company-wide survey to find what perks your employees would love to have.
This could save you plenty time and also some money on trying to fill up a role a disgruntled employee just left.
So, there you have it.
Did I miss out any fantastic employee perk? Add it in the comment section and I'll be glad to include it in the list.