How benefits can make for a happy, healthy & sticky workplace

08.29.16

A company’s benefits package plays an important role in attracting and retaining talent. Additionally, when an employer can’t compete on salary, generous benefits can help make up the compensation gap. Our workplace research finds that medical, dental, life insurance and paid maternity leave are pretty much a given when it comes to benefits employees expect. Here are some additional insights to consider when pulling together a company benefits plan: WALKING THE WALK: In today’s socially-driven world, transparency and authenticity rule the day. Workplace review sites like Glassdoor have made it easier than ever for employees to evaluate companies. If an employer claims worker wellness and balance matter, then the benefits, perks and policies must match. Make sure the benefits offered mirror company values.

BENEFITS DON’T JUST BENEFIT WORKERS

24 Seven’s workplace research finds that companies that offer generous benefits and perks had more loyal, satisfied, engaged employees. On average employees who believe that their company cared about their well-being were offered more soft benefits than those who said their company didn’t care. Well-cared for workers were also less likely to report to work sick and had a lower burn out rate than workers who felt their companies didn’t care about them.

SOFT BENEFITS DON’T HAVE TO BREAK THE BANK

Soft benefits and perks can have high impact at a low cost. Workers surveyed said perks around birthdays and work anniversaries are meaningful - an extra paid day off or even a simple coffee shop gift card can mark the milestone. Employees also appreciate free or discounted access to sporting events, concerts, cultural memberships, movies and other recreational diversions. Onsite fitness and wellness opportunities scored high too. Yoga in the cafeteria anyone? Get creative with soft benefits. Better yet, ask employees for ideas!

FLEXIBLE & REMOTE WINS

Year after year, our workplace research shows that in this ever-connected world employees crave control over their time.

Almost 9 out of 10 believe employers should offer some type of flexible schedule or remote work option. Companies who promote this benefit become magnets for the best and brightest talent.

BALANCE MATTERS: It’s not enough to o¬er time o¬ – whether paid time o¬, unlimited vacation, sick days. Employees need to feel empowered to take the time they have earned. Our study shows that 53% of workers feel burnt out. Another 36% don’t use all their accrued time off, and 71% admit coming to work sick when they should’ve stayed home. The goal of time benefits should be balanced, healthy employees. CLEAR AS DAY: Companies should celebrate the perks they o¬er while being up front and honest about why they might not o¬er others.

Be transparent about who qualifies for certain perks, and why. Maybe one department can have Fridays off. But another can’t because they deal with clients all the time, so they qualify for another perk instead – like a monetary bonus. Keep things out in the open to reduce gossip and resentment. Hey, you want the bonus? Then go for that opening on the sales team!

HOW BENEFITS CAN MAKE FOR A HAPPY, HEALTHY & STICKY WORKPLACE (CONTINUED)

Benefits most employees expect & get. And the ones most workers covet.

HAVE

Medical Insurance
Dental Insurance
Maternity Leave
Life Insurance
401K WITH company match*

WANT

Tuition reimbursement/paid continuing education
Summer Hours/Comp Days
401K WITH company match
Onsite gym, athletic fields, yoga
Entertainment perks (eg dinner out, sports or concert tickets)
Paid birthday off
Unlimited time off
Life Insurance
*only 21% are o¬ered 401K with no company match - and even less workers are interested in that benefit!

SOME SOFT PERKS TO TRY TODAY

LOCAL BUSINESS DISCOUNTS – a company ID equals a break on meals, warehouse memberships, sneakers, and more

DISCOUNTED or FREE TICKETS to sporting events, concerts, museums, and other local diversions

WELLNESS WORKSHOPS – yoga, Zumba, nutrition, financial planning, meditation… so many options

FREE ICE CREAM DAY – have a local ice cream truck stop by

EMPLOYEE OF THE MONTH PARKING

SUMMER FRIDAYS – rotate who gets to leave early or not come in at all

RELAXED DRESS CODE DAY – sweatpants once a month won’t hurt anyone

MASSAGE CHAIR – yeah, like the one at the mall or the airport

OUTDOOR MEETING SPACES – picnic tables aren't just for lunches

BRAGGING RIGHTS – company-wide dodgeball, kickball, trivia contests, charades, karaoke…

BIRTHDAY OR ANNIVERSARY TREAT – greeting card, free co¬ee, desk balloons, or day o¬ – so many ways to say ‘we care’

WALK & TALK – make it ok to take walking meetings

LIBRARIES & READING ROOMS – books, periodicals to expand minds and hone skills

HOME FOR DINNER – mandatory “everyone out by 5” day once a month

ON-SITE CHORES – arrange for dry cleaning pickup/delivery, car care, shoe repair

CHARITY OF THE MONTH – company matches employees’ donations to an employee-chosen charity

TRAINING DAYS – give employees a set number of days to use for classes, conferences, seminars


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