Benefits of Employee Perks and Benefits for Business

Companies perks and benefits can be something that really helps lure employees to your business and also helps you get the best people. Let’s take a closer look at them.

What Are Perks And Benefits?

These are things that are sometimes easily interchanged. However, for our purposes we will define these two company extras:

Benefits

Employee benefits are a form of non-wage based compensation. If these are not offered by an employer, employees will more than likely have to fund themselves.

Perks

These are corporate perks or prerequisites, which are nice additions to have on an employee’s salary and the benefits package. Perks are defined as going above and beyond for offerings that may end up swaying an employee to value a particular employer over another. You can think of it as icing on the cake.

Benefits Usually Offered

Healthcare – After their salary, this is a benefits staple that is of utmost importance to most job candidates and will usually include medical, vision, dental and/or life insurance for the employee as well as their families.

Paid Time Off – Whether this is time off for illness, vacation, personal time off, or bereavement, it is highly valued by all employees, as well as a great way to combat the feeling of getting burnt out. Two weeks is generally the standard, but getting three or more weeks starting personal time off can be difficult for many candidates.

Share Schemes – another very common benefit afforded to those that work in large businesses. Share schemes can be a great way to encourage employees to work harder and offer the company more – simply because they benefit directly from it. Share prices can rise or fall, like this, though this can be a great motivating benefit for employees.

Retirement Savings Plans – A good 401(k) plan can be a nice way to motivate people to save for their retirement. If the company offers to match contributions to a certain amount, it can be a major plus in the eyes of employees and encourage them to stick with your company.

Maternity and Paternity Leave – Employees like to feel that they can achieve their career goals while also growing their families. Because of this, many companies will offer paid time off for any new parents.

Professional Development – Right now more than ever, creatives want new opportunities for professional development so that they can master newer skills to help for growing into other roles. This is something that is especially important for millennials that are concerned about quality career options. Funding, training, and also continuing education will be very beneficial for both the employee as well as the employer.

Persuasive Perks For Enhancing Recruitment And Retention

Workplace Wellness – Employees are your most valued resource, so you should think about investing in their overall health and wellness. Whether it comes through a program for a paid gym membership, health screenings, onsite yoga classes, or all of the above, this happens to be a perk that will keep on giving because of how wellness will impact productivity and creativity.

Free Food and Snacks – There are a lot of big companies, including Pixar and Google, that will offer every snack, meal and treat for free to employees. This is an appetizing perk that will save employees money and time, which is also great for employees that may be poor meal planners or spontaneous eaters.

Work from Anywhere – Everyone is familiar with the option to work from home, but how about work from anywhere? There are a lot of companies that are loosening up and letting employees to choose where they want to work, even in the office, just as long as they are getting their job done.

Concierge Services – Employees will value a good life-work balance. Errands and chores can be boring even if you have the time to get them done. If you provide access to concierge services, you can easily win over employees and help them with daily tasks like basic auto service and dry cleaning pick up and drop off.

Transportation and Parking Reimbursement – If you have an employee that has to travel a long distance, pay for parking and tolls and more, you can offer to pay for part of the bill that they may encounter.