Nov 11, 2021

Top 10 Perks and Benefits that Win Employees Over

What makes an organization amazing? It’s employees of course! People are the most valuable assets that a company can have which is why investing in employee satisfaction will go a long way in keeping employee engagement high.

Especially in today’s professional world of remote work or work from home, the lines between the office and home have blurred drastically. Most retention focused employers will understand the fact that the perks you offer beyond salary can go a long way in ensuring low turnover in personnel.

Some of the most common employee benefits that most organizations offer are:

• Health and Dental benefits
• Paid maternity or paternity leave

These are great benefits to have, but the key to employee satisfaction is being able to look beyond the common benefits and see what it is that promotes employee happiness in the workplace. Let’s take a look at some perks and understand why employee satisfaction is important and possibly vital to an organization.

Here are the top 10 perks and benefits that you as an employer can provide as part of your work model that will win employees over.

1.Wellness Support Programs

Workplace wellness programs have become a popular benefit offered by employers. Mental wellbeing is usually top of the list as it should be for a lot of organizations. Some companies have employee assistance programs where they can speak with a certified counsellor either in person or via phone. This benefit is often extended to the employee’s family members as well.

2.Retirement Savings Plan

Having a retirement plan for most people is a distant dream with the way the economy is currently. But with companies offering to match contributions up to a certain amount, could become a major factor in deciding to stick on with the company.

3.Paid Time Off

This is another BIG benefit that is highly valued by employees and another amazing way to retain them. Be it illness, bereavement, or personal time off, three or more weeks of personal time off (PTO) can be pretty hard to pass up if you’re an employee.

4.Employee Discounts & Rewards

Employees love getting company exclusive discounts on large purchases from gadgets to homes. It’s also a great way to offset living expenses and reward them for all the hard work that they put in.

5.Continuing Education

The cost of higher education has risen above and beyond what people can normally afford, so it’s a big plus when an employer offers tuition assistance as a perk to the employees. Some companies even offer a full tuition reimbursement as part of the continuing education programs that they have.

6.Student Loan Paydowns

For employees who already have a degree, student loans can eat into your paychecks for years. Companies like PWC provides help paying off the student loan debts which makes it an extremely attractive perk to employees.

7.Employee Growth Plans

A major factor that prompts employees to start looking for new jobs is the lack of opportunities to grow within the company. Sitting down with the employees to create future growth plans will be a motivating factor that can boost morale and hope for their future career.

8.Remote Work Options

The pandemic has changed the workplace forever, and remote work is slowly becoming the norm in most companies. Majority of employees enjoy the flexibility to work from home and prefers remote work to transiting to the office every day.

9.Employee Recognition & Rewards

Everyone feels good about being recognized for the hard work that they do. Organizing monthly companywide meetings to make time for moments of gratitude and recognition can make employees feel valued and respected.

10.Performance Bonus

Performance bonus is a fantastic way to motivate employees and gives them a tangible ownership stake in their role. Performance incentives also keeps employees engaged and attracts new employees.

Aside from the above there are many other perks and benefits that are keys to employee satisfaction. A great perk for employees with children would be to offer them childcare assistance. This could be in the form of having a daycare in the office building or the employer could contribute towards the childcare fees that makes it easier on the employee to be able to afford childcare.

Another benefit that should be considered vital is being an employer who takes diversity and inclusive hiring practices seriously. Creating a culture of diversity and inclusion takes time, but it shows integrity and the fact that as an employer you can walk the walk!

Offering employees a financial stake in the company is a powerful way to attract new talent and retain existing talent. Company equity creates ownership among the employees and makes them feel like they’re an integral part of the company. Having equity also pushes them to give their best and become more invested in the success in the company’s success.

Remember that the best employee benefits are those that are tailored to meet employee needs at various stages of their careers. Providing a comprehensive benefits package to employees is essential in reducing turnover, improving employee engagement and attracting top talent.