As the saying goes – employees are a company’s biggest and most valuable asset. There’s nothing more true than this, as without a dedicated and motivated team pushing a company forward, how would businesses survive? Who would drive sales and services? Employees want and need to feel valued, they want to know that their wellbeing is taken into account and a work-life balance is on the cards for them.
According to a Glassdoor survey of more than 1,000 people, more than 1/3 of employees say that employee benefits and perks are amongst the top considerations when accepting a new job. Employee benefits are an effective way for employers to look after and engage their teams, as they are so varied in nature and can be tailored to specific requirements, so it’s a win-win for everyone!
Employee benefits are any additional offerings than a company offers over and above a salary, from discount platforms with thousands of retail savings, to life and medical insurance policies, to extra day holidays and reduced travel options. The options are truly endless! An employee benefit scheme is a holistic tool which appeals to all employees, regardless whether they’re a baby boomer or the newest Gen-Z folk entering the workforce. A discount platform offers perks that range from reduced shopping cards and e-vouchers, direct discounts from high street retailers, cashback offers where you’re entitled to claim cash back for your purchases, hotel and travel privileges, an integrated concierge service, cheap mobile and technology offers….
In addition to a traditional employee discount platform which smartly houses the various discount and perks options, there are some out-of-the-box, awesome employee benefits that are a massive pull factor for companies with the budgets which allow. Employees love experience days, traveling opportunities, occasions where they can do good and volunteer, extra holiday days for birthdays or when hit a milestone, the chance to study something of their choice in order to upskill and enhance their job, generous maternity and paternity packages, on-site exercise and meditation classes and so on. These employee benefits have numerous positive outcomes including attracting and retaining staff, increasing productivity, adding value to an employee’s life in and out of work, boosting team morale and creating a corporate culture where employees are proud to be a part of.
So, is it usually the funky Silicon Valley tech start-ups or only the magic circle firms who offer such perks? What about NPOs and high street brands, what do they offer employees? Below are ten companies who do employee benefits well:
1. Huddle: This software giant welcomes employees with a £5,000 joining bonus as well as a £500 annual gift. 2. TransferWise: This money company takes all their staff away annually on an all-expenses paid holiday. 3. AirBnB: They offers staff £1,413 to travel and explore the world 4. Skyscanner: Holiday comparison site, have negotiated employee discounts at the local pub and beauty salon. 5. The Body Shop: Cosmetic giant pays their employees for five volunteering days per year at a charity of choice. 6. Netflix: Offer one year full paid maternity / paternity pay. 7. WorldWildLife Fund: This non-profit allows its team to take every other Friday off, AKA Panda Fridays. 8. PwC: This Accounting giant offers employees $1,200 per year for their student loan debt. 9. Burton: Menswear company gives their employees ski passes and snow days to hit the slopes. 10. Twilio: Communication and SMS company gives their employees a Kindle plus an book allowance per month.
Inspired? What kind of employee benefits package to do you think will be suit your team?