The days of an employee benefits package consisting of boring perks no one is interested in are long gone! With the pandemic shaking up the workplace, it will take more than retirement benefits to entice top talent to work for you.
In this employee benefit guide, we will show you how to use our engaging and interactive employee benefits package template so you can tweak it with your own content, branding, and more. If you’re looking to refresh your current package or need to start one from scratch, feel rest assured that this task won’t take you long to complete when using our template!
We’ll also be taking you through some of the more enticing employee benefit ideas to inspire you to retain staff and employee top talent.
Why your employee benefits package might need a refresh
While health insurance benefits are essential for any workplace, staff members aren’t interested in the free fruit bowl at work anymore. Let’s face it; it’s hardly relevant as most companies offer the option to work from home now.
With the Great Resignation in place, it’s not just about bringing top talent to your team; the employee benefits package should include awesome perks that will keep your current staff members around for the long term.
You don’t necessarily need to offer a higher salary to keep staff. In fact, many employees are looking out for the exciting employee benefits package on offer to give them overall job satisfaction.
Standard employee benefits you might already include
There are a few standard employee benefits packages most companies provide for all staff members, especially for small and medium business start-up companies who might not be able to offer high salaries. This usually consists of:
- Health insurance – this could include life insurance, disability insurance, health insurance, medical insurance, dental insurance, wellness programs, and much more
- Retirement plans
- Paid time off – including paid parental leave
- Additional compensation
Although they are necessary for most companies, it doesn’t make the employee feel vaguely excited about working for a forward-thinking company.
The employee benefits package can really dictate what the company culture looks like…
…and help make a potential candidate apply for the role advertised if they are mentioned in the job description or careers page on your company website.
Forward-thinking employee perks to consider
Let’s dive in and discuss some of the forward-thinking employee perks you might like to consider when building employee benefits packages. You’ll need to assess whether you need your employees to work in the office because learning what it means to work remotely will help you decide whether a pool table in the office is actually worth it.
Here are some of the benefits of motivating employees, which will help you keep costs down.
- Extra time off – a luxury many employees won’t have a problem with
- Mental health days – because it’s essential to have me time and encourage the health benefits
- Stock options – offer the opportunity to invest in the company they work for
- Remote working & flexible hours – offer up a new way to work from anywhere
- Monthly food and snacks budget – just because your team isn’t in the office for a Friday lunch doesn’t mean they miss out on having lunch on the boss once a month
- Fitness & wellness memberships – because having a mind and body focussed on the job goes a long way
- Work retreats – it’s essential to keep getting the team together when you’re not working side by side in the office
- Opportunities to grow – keep your staff on their toes by encouraging them to take courses and learn more
- Student loan repayment assistance – help your employees close their student loan debt
- Pet insurance – some companies are looking out for your entire family, and that includes your pooch too
What about offering the unlimited paid leave option?
There’s no need to get ahead of yourself and think offering unlimited paid leave will entice employees. It can have the opposite effect, which Lifehacker talks about.
Many companies who offer this job perk actually see employees burnt out because there isn’t a standard time for how long you can really take off. Employees feel pressured to work longer hours and continue to keep up with workloads rather than take time out to relax. This, in turn will see employees leave after a certain time and look for another company that offer a fixed paid leave package.