5 Creative, and Meaningful, Employee BenefitsBy Kathleen Burns, published on Nov 4, 2019
Cold brew and cold brews are great — but there are better ways to attract and retain the best employees
From kegerators and free snacks to flexible work hours and unlimited paid time off, more and more companies are trying to lure candidates by flaunting their “employee perks” as a selling point. But is access to unlimited free candy a good reason to choose one job over another? More importantly, is it a good reason to stay in one job vs. looking for another one?
Maybe the rhetoric around employee benefits needs to shift entirely. Rather than only thinking about what will make the hours of 9-5 more enjoyable for your employees, how can you help them foster a positive lifestyle outside of work? Research shows that happy employees are productive workers, but perhaps there is an even greater ROI on investing in their long term wellbeing, rather than putting all of the HR budget toward the instant gratification of free coffee in the morning.
We chatted with our People Operations team to spotlight some of the most creative, and rewarding, employee benefits on the market. Here’s what we came up with.
With the cost of higher education increasing every year, more and more graduates are entering the workforce in debt. And lots of it. One of the best ways to limit the stress your employees are under, and to show them how much you care, is by helping them pay off their student loans. Plus, new parents are likely already wondering how they’re going to pay for education. Gradifi offers solutions to help employees pay down and/or refinance their student loans, as well as save for their children's’ education. With each solution, your company is able to set up direct contributions to loan pay-down and college savings. Plus, with Gradifi, employees can get help and professional advice on refinancing their student loans to potentially lower their monthly payment or APR.
Do you know if the benefits you give your employees are ones they actually appreciate, enjoy, and use? Hopefully, they do. But it’s also possible that they’d prefer help paying for their gym membership rather than a free lunch every week. With Compt, you don’t have to guess what employees want as benefits, or compromise between a variety of requests. Compt essentially lets employees choose the benefits they want, meaning each person’s benefits are tailored to their values and goals. You can define the parameters of your organization’s perk program including how much employees can spend, in what timeframe, and within which categories. After that, it is all in the hands of the employees.
One of the best ways to make employees happier and healthier at work is to make it easy for them to get away from work. But vacations can be expensive and, sadly, stressful. What if you could provide your employee with a tool that takes the pain out of business travel? Enter Lola.com. Built for business travelers, Lola is also the perfect benefit for leisure travel, offering 24/7 support and discounted fares to all your employees (and their families). With Lola, travel is simplified, and you've given your employees the gift of stress-free travel — and exclusive discounts to boot!
An important aspect of wellbeing outside of the office is financial wellness. Unfortunately, financial wellness is often overlooked, forcing those newer to the working world to fend for themselves when it comes to managing their money and making big financial decisions. If we’re being honest, even corporate veterans don’t always feel confident with financial planning. These are the exact problems LearnLux has set out to solve. LearnLux strives to guide your employees toward financial wellness through education, digital tools like plans and budgets, and expert financial advice.
A more recent trend in employee benefits is fertility help and support. As couples and single people start families later in life, fertility treatments have become more mainstream. However, most companies still do not offer benefits to support fertility treatment — 71% of IVF patients treated in 2018 paid for most, or all, of their IVF treatment out-of-pocket. By subsidizing treatments like IVF and egg freezing, you’re delivering a message of inclusivity and support to your employees wanting to start a family. And Carrot Fertility is making it easy to help. With Carrot, organizations can provide their employees with a personalized, inclusive, white-glove experience. They cover an extensive list of treatments, including egg freezing, IVF, and adoption in the US and 40+ countries around the world. Plus, Carrot makes these benefits available to all employees regardless of age, sexual orientation, gender identity or marital status.
Employees like to feel cared about and looked after, and one of the best ways to communicate that message is through the benefits you offer.