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Top 10 New Employee Benefits Companies are Offering

Top 10 New Employee Benefits Companies are Offering

When it comes to benefits that impact employee satisfaction, there are an array of different options available. In the past we often saw general healthcare and dental benefits, but as time passed by, benefits have transformed based on companies’ goals and ambitions. These organizations rely on their staff to keep the system running smoothly. In return, the employees rely on their employers to ensure their work/life balance is fair and relaxed. This is where the new benefits come in. From an in-office massage to bring your dog to work day, companies around the world have introduced new initiatives to keep their staff comfortable and focused.

Employee satisfaction should be a top priority in all companies because it contributes greatly to overall success. When an employee is happy with the circumstances in which they work, they tend to work more efficiently. One way of ensuring your staff is satisfied is discussing benefits your company is offering and how to better meet employee needs in the office.

What are Employee Benefits?

Employee benefits are non-compensated additions given along with salary to show that the company supports their personal lives. These in turn helps to boost morale, workflow, as well as the well-being of the employees and their families. These benefits include but are not limited to unlimited PTO, sabbatical, tuition reimbursement and work from home opportunities. 

Why are Employee Benefits Important?

Employee benefits are very important because they take some strains off everyday life, helping employees balance their professional and personal lives more easily.

The purpose of benefits is for employers to support their employee’s personal lives and boost their well-being. As the job market is becoming increasingly competitive, it’s vital that employers analyze their employee’s satisfaction levels with current company benefits to discover which aspects need to be modified and discover what additional benefits competitors are offering that could be included.

New Employee Benefits

Many employers are competing to offer the best benefits for their employees and attract talented candidates to apply. While traditional benefits of health, dental and vision insurances are important, new benefits on the rise focus on the comfort of employees in the office.

Here is a list of 10 new benefits that employers are offering:

  1. Pet-friendly office: Many large companies are starting to offer pet friendly offices that allow you to bring your furry friend to work. According to Phys, pet interactions help improve the social atmosphere and reduce stress of the owner and colleagues in the same office. Although there is risk of health concerns and ill-mannered pets, the positive impact on employees is worth the time and effort to accommodate office space for pets.
  2. Remote work options: Working from home has become increasingly popular in recent years because of advanced technology. Whether it is a permanent arrangement or employees are required to attend the office a few days throughout the week, you are giving extra freedom, as well as cutting travel expenses greatly.
  3. Healthy office snacks: It’s one thing to have free food in general, but the healthy option can benefit both the employee and the company. There’s nothing worse than eating a big meal and having a “food coma” affect employee performance for the rest of the day. Offering healthier snack options in the office works to release energy gradually to help employees' function properly and increase work productivity.
  4. Flexible work schedule: Flexibility plays a major role in keeping your employees satisfied. Whether they need to drop their kids at school, attend a doctor’s appointment or work irregular hours to better fit a lifestyle, a flexible schedule can help accommodate these personal needs. Employers can still establish typical work hours, but instead of doing them in one block, employees can be offered to complete the hours whenever it suits them throughout the day.
  5. Mental health support: Mental health is becoming more important as jobs demand more work. Having a company that is empathetic and supports their employee’s mental health journey is a major factor in keeping retention rates high. Some companies offer counselling sessions or in-office yoga to help keep their employee’s mental health in check.
  6. Freedom to travel: Funding work-related travel can be expensive, so this may not be applicable for companies with a tighter budget. However, those who can offer this benefit give employees the opportunity to grow their skills and network with others in their field that are outside of the office.
  7. Education funding: Some companies allow part time hours for their employees to finish their degree, and even offer to fund the entire or part of their tuition to ease pressure. This benefit gives the opportunity for staff to further their education and knowledge of their field while continuing to work at the company.
  8. Onsite medical aid: Health insurance is one thing, but an onsite medical facility is another level of care. The services offered here can range from a nurse to a physio therapist, all to keep employees feeling comfortable and safe in the office.
  9. Volunteer hours: Offering time off to volunteer for charities improves employer brand and allows employees to support causes they believe in. It will be an attractive benefit for job seekers and allow employees to partake in extracurricular activities from what their job requires.
  10. Unlimited paid time off: The standard paid time off (PTO) is generally 15 days. However, some companies offer unlimited paid time off for their employees if responsibilities are taken care of before leaving for vacation. This helps increase employee happiness by allowing additional time to recharge before returning to work.

Bringing it All Together

Employee benefits are used to both retain employees as well as optimize productivity. Therefore, it is important to analyze the employee benefits you currently offer and adjust to compete against other employers. Employee satisfaction plays an important part in your company's overall success , since satisfaction effects productivity, innovation, and friendliness among co-workers. While there are many ways to ensure your staff are happy with their benefits, it can be an enormous task to compile suggestions and create a plan of action, especially for large companies.

Barometer collects data from your employees both past and present and compiles this into a user-friendly database. It displays all the positive and negative aspects of your company benefits, and can even highlight ways to improve. Click here to learn more!

Preparing to change compensation at your company? Read this first.
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Published by Michelle Taite July 2, 2020
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