Today’s job market is highly competitive, and if you want to attract and retain top talent, it takes more than just offering a decent paycheck or a basic employee benefit package. Companies are competing to get the best and brightest in their industry, and sometimes, a prospective job-seeker’s decision might come down to the unique employee benefits they’re being offered. The truth is, your employee benefits package can set you apart. A comprehensive, exciting employee perks package can enhance job satisfaction, loyalty, employee well-being, and corporate culture.
Keep reading to discover unique company benefits you can offer to differentiate yourself from the competition and truly benefit your employees.
Health and wellness benefits
Investing in employee health and wellness is a compassionate yet strategic approach to creating a happier, healthier, and more productive workforce. Offering a range of comprehensive and unique employee benefits that follow the latest workplace wellness trends supports your employees’ mental, physical, and emotional well-being.
1. Comprehensive health insurance plans
While not an exciting employee perk, comprehensive health insurance ensures every employee can access medical care when they need it, without feeling extreme financial strain. Most plans cover a wide range of services, including preventative care, prescription, drugs, specialist visits, and hospital stays — but you can go even further to set yourself apart and make your company attractive to top talent.
2. Fitness and wellness stipends
Offering stipends to reimburse fitness and wellness expenses allows employees to choose how they stay active. Stipends might be used for gym memberships, sports equipment, various fitness classes, or any wellness-related expense you allow that encourages a healthy lifestyle.
3. Wellness app subscriptions
Wellness apps can help employees manage stress, eat and sleep better, stay motivated, or even learn to meditate. One study found that employees who regularly practice mindfulness have a 28% reduction in stress.
4. Mental health services
Mental Health America reports that 81% of workers experience workplace stress that impacts their mental health. Ensuring every employee has access to mental health services like therapy is crucial to organization-wide well-being. By including mental health benefits for employees as part of your comprehensive benefits package, you’re demonstrating your commitment to holistic health and reducing the stigma surrounding mental health support.
5. Wellness retreats and sabbaticals
By encouraging wellness retreats or sabbaticals, your employees can recharge in their personal and professional lives. Breaks can enhance creativity, productivity, and job satisfaction, so employees can return to work feeling refreshed and more motivated than ever to excel.
Financial benefits
A whopping 78% of employees are stressed about their financial planning efforts and feel they need to get caught up in saving for their future. Providing financial benefits helps you stand out as a supportive employer who promotes long-term employee financial wellness, stability, and peace of mind. There are several ways you can significantly impact financial wellness and the economic health of your employees’ lives.
6. Student loan repayment assistance
Offering student loan repayment assistance is a unique benefit that allows employees to pay down often-overwhelming educational debt. Some programs are designed to help you, too. Through 2025, the Consolidated Appropriations Act lets businesses offer each employee up to $5250 in student loan repayment benefits, tax-free.
7. Personalized financial planning services
Personalized financial planning services empower employees by giving them knowledge and experience so they can make informed decisions about their finances and future. Financial advisors can help employees budget, plan for retirement, develop investment strategies, and save for college.
8. Stock options and equity grants
Stock options and equity grants are excellent ways to offer employees a sense of ownership in the company. This can be highly motivating and align employees’ interests with the company’s future success.
9. 401k with matching contributions
401(k) plans encourage employees to save responsibly for retirement. Matching a portion or all of an employee’s contributions significantly boosts long-term savings and bolsters financial security.
10. Generous employee referral bonuses
Establishing generous referral bonus incentives is a strategic way to attract new talent. It helps build a strong team and provides current employees additional financial rewards beyond just their salary.
Work-life balance benefits
With 77% of employees saying they’ve experienced burnout at their current job, work-life balance is a hot topic in the business world today. Offering benefits that ensure work-life balance for employees is crucial for overall well-being and productivity.
11. Four-day workweek option
The 4-day workweek lets employees work fewer days while maintaining full-time status and benefits. It’s effective, too. Studies show that 82% of companies say shortened weeks have positive impacts on employee well-being, reduce turnover, and improve recruitment efforts.
12. Flexible remote work opportunities
In 2023, more than a quarter of employees (27%) in the U.S. worked remotely. Remote opportunities give employees autonomy and the freedom to work from home, or anywhere they can do their job. This flexibility enhances employee satisfaction and work-life balance by reducing commute times, eliminating wear and tear on the car, and allowing remote employees to manage personal responsibilities with less stress.
13. Unlimited paid time off
Unlimited paid time off (PTO) policies mean employees can take time off whenever they need for rest and relaxation without worrying about using up a fixed number of days. This can result in a more relaxed and motivated workforce, as employees feel trusted and valued and don’t tend to abuse or take advantage of the privilege. While it might seem unorthodox, research shows that employees with non-traditional benefits like unlimited PTO actually only take off 12.09 days a year.
14. Extended paid parental leave
Extended parental leave gives new parents time to bond with their children without having to worry about added financial stress. Offering generous parental leave demonstrates your commitment to families, which can give you an advantage over other companies in your industry.
15. PTO for floating holidays
Floating holiday PTO lets employees take paid time off for days that are significant to them. Benefits that respect diverse cultural and religious practices and enable employees to celebrate occasions that are important to them have proven very successful in improving employee morale.
Work-from-home benefits
As remote work became the norm during the pandemic—at one point, up to 42% of the U.S. labor force was WFH—companies began to recognize the need for benefits that support these employees. Providing work-from-home benefits can even enhance productivity and ensure employees have a comfortable home office environment that reduces stress and improves job satisfaction.
16. Home office reimbursement or stipend
Home office reimbursement or stipends allow employees to create productive workspaces at home without spending all their own money on them. Covering the cost of central office equipment like desks, ergonomic chairs, monitors, and other accessories provides a comfortable and efficient work environment so employees can perform at their best.
17. Complimentary or discounted phone and internet services
Reimbursing part or all of phone and Internet services costs ensures employees have reliable connectivity so they can stay connected and productive without experiencing any financial burden.
Professional development benefits
58% of employees say they’d likely be willing to leave a job where professional development isn’t offered. When you invest in your employees, you’re investing in employee engagement and organizational growth as well. Providing opportunities for employees to advance, learn, and enhance their skills can foster a culture of innovation.
18. Continuing education and training stipends
Continuing education and training stipends allow employees to pursue advanced education, new certifications, and professional development courses that can be game changers. When you cover the cost of tuition, workshops, conferences, or learning opportunities, you essentially empower your employees by helping them expand their knowledge and skill set so they can do better at work.
Family and dependent benefits
Supporting employees with families and dependent care responsibilities is a compassionate way to create an inclusive workspace. Family and dependent benefits can be instrumental in alleviating some of the stress associated with caregiving, so employees can be more effective and focused at work.
19. Childcare reimbursement
Considered one of the best employee benefits for working moms and dads, childcare reimbursement programs provide crucial support in helping employees with the overwhelming costs of childcare. Covering a portion of the expenses can reduce the financial burden on working parents so they can manage their professional responsibilities successfully, with peace of mind, knowing their children are well-cared for
20. Elder care support services
Although rarely discussed, elder care support services are crucial in helping employees care for aging family members. Elder care coordinators, financial assistance for care services, or even access to informational resources can all greatly benefit employees.
21. Comprehensive fertility benefits
Fertility benefits can support employees and families undergoing treatment or exploring family planning options. Benefits might include in vitro fertilization (IVF) coverage, egg freezing, surrogacy, or adoption services. Offering fertility benefits exemplifies your commitment to supporting a diverse path to parenthood.
Unique perks and incentives
The job market is competitive today, but having unique benefits to offer employees can set you apart and entice people to work for you. Addressing specific needs or preferences shows what a supportive, inclusive, and diverse workplace your company is.
22. Pet insurance
Pet insurance can cover expenses like routine checkups, vaccinations, surgeries, and emergency treatments. By providing pet insurance, you’re recognizing the critical roles furry friends can play in employees' lives.
23. Lactation facilities
Creating lactation facilities and private spaces for breastfeeding moms to pump can be a significant differentiator between you and your competition. Equipped areas with amenities like comfortable seating, refrigeration for storage, and power outlets are all ways you can support new mothers in their return-to-work journey.
Elevate your employee benefits with mental health support
There are so many ways you can offer creative, supportive, unique employee benefits that make a real difference. Providing access to mental healthcare is one more opportunity to connect with employees and show them how much you care and value them. Request a demo from online therapy platform Talkspace today to learn more about how you can support your employees by prioritizing their mental health.
Sources:
- Achor, Shawn. 2021. “The Busier You Are, the More You Need Mindfulness.” Harvard Business Review. August 30, 2021. https://hbr.org/2015/12/the-busier-you-are-the-more-you-need-mindfulness. Accessed August 5, 2024.
- “2023 Workplace Wellness Research.” n.d. Mental Health America. https://www.mhanational.org/2023-workplace-wellness-research. Accessed August 5, 2024.
- “State of the Workplace Study 2024 | Morgan Stanley at Work.” n.d. Morgan Stanley at Work. https://www.morganstanley.com/atwork/articles/state-of-workplace-financial-benefits-study. Accessed August 5, 2024.
- Paycor. n.d. “Employer Student Loan Repayment Program: 5 Tips for 2024.” https://www.paycor.com/resource-center/articles/employer-student-loan-repayment-program-5-tips/. Accessed August 5, 2024.
- Whiting, Geoff. 2024. “Work-Life Balance Statistics for 2024: A Global Perspective.” Hubstaff Blog (blog). July 18, 2024. https://hubstaff.com/blog/work-life-balance-statistics/. Accessed August 5, 2024.
- Sarnoff, Leah. 2024. “Does a 4-day Workweek Work? Companies Share Results After 1 Year.” ABC News. March 1, 2024. https://abcnews.go.com/Business/4-day-workweek-work-companies-share-results-after/story?id=107635577. Accessed August 5, 2024.
- Flynn, Jack. 2023. “25 Trending Remote Work Statistics [2023]: Facts, Trends, and Projections.” Zippia. December 13, 2023. https://www.zippia.com/advice/remote-work-statistics. Accessed August 5, 2024.
- Namely. 2022. “Namely Research Examines the State of Unlimited Paid Time Off.” GlobeNewswire News Room, June 16, 2022. https://www.globenewswire.com/en/news-release/2022/06/16/2463793/0/en/Namely-Research-Examines-the-State-of-Unlimited-Paid-Time-Off.html. Accessed August 5, 2024.
- “How Working From Home Works Out.” n.d. Stanford Institute for Economic Policy Research (SIEPR). https://siepr.stanford.edu/publications/policy-brief/how-working-home-works-out. Accessed August 5, 2024.
- Godbout, Ted. 2022. “Without Development Opportunities, Most Professionals Likely to Leave.” National Association of Plan Advisors (NAPA). July 12, 2022. https://www.napa-net.org/news-info/daily-news/without-development-opportunities-most-professionals-likely-leave. Accessed August 5, 2024.