Finding purpose in their work isn’t the only thing employees need to remain loyal to a company. For a host of practical and personal reasons, they also want (and deserve) perks. From paid time off to flexible work schedules and health insurance, some benefits are even deal breakers.
What are the top perks for employees? Here are the perks that interest top talent and will keep your best performers on board for the long haul.
Top Perks for Employees
According to the Human Resource Executive annual survey, paid time off (PTO) is the most important benefit to employees. Of all people surveyed, 35% said that PTO is more important to them than other benefits. Other top choices include flexible/remote work, paid family leave, and health/fitness benefits.
A Robert Half survey confirmed that PTO is important. In their research, 57% of respondents said paid time off is in their top three perks. Health insurance is the only benefit that surpassed it, with 76% of people saying health insurance is an essential benefit. In that same survey, about 75% of respondents said a flexible schedule is very appealing. And, more than 1/3 said company-exclusive discounts on big ticket purchases like cars are at the top of their wanted perks.
Here are some of the top perks for employees. Not only will the recruitment process be easier if you offer appealing benefits, but you may see a lower attrition rate among existing staff.
Retirement Plan
Retirement plans were among the most desired benefits in the Robert Half survey. Just over half of working adults surveyed said it was in their top perks. You may attract better talent pools by offering to match contributions to a 401(k) plan and help employees save for their retirement. Consider lending financial planning as well.
Insurance Plan
Health benefits are necessary perks for employees. Most people rely on an employer to gain access to health, dental, and vision insurance. If you offer multiple tiers of coverage, your employees can choose a plan that fits their budget and specific needs.
Unlimited Time Off
Unlimited time off is a popular benefit to many employees and gives hiring managers something to dangle to on-the-fence candidates. While an unlimited PTO policy doesn’t actually mean your employees can take off whenever they feel like it, the policy does introduce an appealing flexibility. Unlimited time off means that an employee doesn’t have a set number of vacation days per year; they can take off the days they require, provided it doesn’t disrupt business. They still need approval from a manager.
Wellness plans
On top of health insurance, wellness perks may also be appealing to some employees. 36% of respondents in an Employee Benefit News survey put a company paid gym membership in their top five desired benefits. You may also want to consider on-site yoga classes, a meditation room, and other wellness amenities.
Flexible Work Hours
In a post-COVID world, employees care more than ever about having the option to work remotely or design their own work day. If you can give employees flexibility about when they need to sign in for the day or where they can work — you may broaden your candidate pool.
Paid Parental Leave
Employees with kids don’t just want and need leave for themselves. Family leave is also important to staff. Whether they have a child home sick from school or an aging parent that needs care, employees appreciate the ability to take time off to tend to loved ones.
Most Important Perks for Remote Employees
Perks for employees who work remotely may vary from in-office staff. In addition to virtual teleconferencing, remote workers may need support to keep up with other technology. And, they won’t be in-office for essential training.
Some remote employee benefits come in the form of stipends that help employees purchase what they need. Other perks require you to send equipment to them. Here are three important perks for remote workers.
Technology and Supplies
In-office employees come in on their first day with a computer waiting at their desk. They may also have access to a private printer and their wi-fi is ready to fire. Remote employees need the same supplies to succeed. Make an inventory of everything your employee needs to complete their work. You can either send equipment to their home or offer a monetary stipend that allows them to purchase the computer supplies they prefer.
Keep in mind that some tech comes in the form of software. Do you have a liaison who can help your remote employee get their programs set up during their first week? Make remote software set-up a part of their onboarding.
Home Office Setup/Co-Working Space Stipend
Your employee also needs a dedicated working space. If they don’t already have an ergonomic chair or a large enough desk, you need a plan to support them. That can come in the form of a furniture stipend or a membership at a co-working space.
Learning Opportunities
You also want to empower your employees to stay up-to-date with industry standards and changes to best practices. How can you offer learning to remote employees? Sign them up for virtual seminars or conferences in their home city. Online learning resources can be important perks for employees who can’t make it into the office for a lecture.
How Great Benefits Improve Company Culture
Company culture is defined by how people are expected to operate within the organization. But it also encompasses the company’s values and shared beliefs. Ultimately, the benefits you offer are a sign that you care about your staff and believe in taking care of one another.
Employees agree that benefits create a happier workplace. In fact, 60% of employees say that benefits are an important part of overall job satisfaction. Great benefits lead to satisfied employees, who create a thriving company. Providing the perks that employees want and need creates a culture of care.
The best perks for employees may differ by company, but they share one thing in common: They make life better for staff. Consider what your staff members need to thrive at work and home as you design your benefits package. You may be surprised at the payoff.
