Unique Employee Benefits to Attract and Retain Top Employees

January 31, 202211:03 am1592 views
Unique Employee Benefits to Attract and Retain Top Employees
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Business organizations are competing to improve their employee benefits to appeal to the best candidates. In order to avoid the headache of losing star performers, employers must come up with a solid benefit package that both satisfies employees’ needs and boosts company’s bottom line in return. Here are some ideas of the most unique employee benefits you can consider giving to your employees in 2022.

Why Benefits Matter: Recruitment and Retention

Employers globally are striving to create unique and fresh employee benefit strategies to distinguish their companies from competitors. This trend emerges with a good reason. A study by AICPA revealed that 80% of employees would choose to maintain a job with benefits rather than a job with more salary but no benefits. This indicates the need for leaders to think strategically about the benefits they can provide for employees to retain them. Unique employee benefits also give an advantage when recruiting new employees. Bear in mind that these perks do not always come at a high cost. Highly qualified candidates may be more inclined to apply if your company offers meaningful benefits that emphasize work-life balance and wellbeing. 

1 . Family Benefits

Supporting their families is often the driving force behind employees’ motivation to work. So it makes sense for employees if they value employers who also put value in their family’s life. With a selection of parental and family-related policy, leaders can demonstrate how they appreciate a staff’s family time. Parents with children aged 18 and under are more likely to feel pressed related to time limitations. If your employees have young children who require thorough supervision and attention, then offering comprehensive family support benefits can make a significant impact on the wellbeing of your company’s working parents. 

Offering paid parental leave plans that encompass both parents, such as having not only maternity leave but also paternity leave, will also enhance morale. You can also offer nursing moms to nurse or pump milk in designated areas in the office and give them extra breaks for pumping. This is not only a lovely benefit; it is also frequently a legal requirement.

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2. Pet Wellness

Caring about employees is one thing, but caring about employees’ pets? It is both noble and cool. For those who are unaware, pet insurance helps pet owners in covering the unexpected and often outrageously expensive costs of animal treatment. With more people adopting pets since the beginning of the pandemic as a coping mechanism, pets are now part of many people’s lives, including your employees. As much as they love taking care of their pets, the cost that comes along is definitely not cheap, especially if something bad happens to their pets. 

Employers can start by collecting data on employees who own pets, so if their pets need to undergo a surgery or routine vaccination, they can reimburse it to their company. The popularity of these supposedly new, one-of-a-kind employee benefits is skyrocketing. According to a recent HRDive poll, 69% of employers anticipate providing pet insurance as a “post-pandemic benefit”. This is a 22% increase from the 47% who already do. A pet insurance benefit is a simple, low-cost method to show your employees that you care, while also demonstrating to animal lovers everywhere that your company is a pet-friendly company.

3 . Time-off Benefits

Is it possible to provide affordable yet adorable benefits for employees? Yes, and the answer is time-off benefits. Time-off benefit is something well-appreciated as people value work-life balance more nowadays. Rest and time away from work may help individuals recharge, allowing your employees to tackle work with fresh energy once they return to the office. 

One of the simplest yet meaningful time-off benefits is birthday paid-time-off. This is a considerate yet unexpected benefit that allows employees to take a day off. There is no better way to start your birthday morning than to have no job responsibility, at least for that day, right? If an employee’s birthday comes on a weekend or holiday, give them an additional day of PTO so they may still enjoy the benefit. 

You can also consider a ‘unique’ schedule that promotes better work-life balance, in addition to paid-time offs. For example, you may give employees an option to work at a 4/10 pace. This means that employees can work four 10-hour days in return for one day off in a week. This can give them the flexibility to take a much-needed mid-week break without having to worry about a salary cut! This can also give them a chance to have a longer weekend every week without sacrificing your company’s business operation. 

Employees are more than just working machines; they are human beings who can, sometimes, feel underappreciated or extremely exhausted. Showing that you care about them more than as employees, but as parents, pet owners, and human beings that need to rest, is the right thing to do. After all, there is no major loss, be it in terms of overall productivity and cost, from giving your employees benefits they deserve.

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