Great companies know that there is a lot of value in rewarding those who work hard for them, and even innovating the way they reward their employees. Benefits for employees stem beyond the normal health insurance and 401k into more meaningful things that people can use in their everyday lives.
One benefit that many companies offer is child help for working mothers. Couple this benefit with tax deductions and you could be looking at nearly free childcare. Whether it be discounted or free childcare, an in-house kindergarten program, or even just a lactation room for nursing mothers, encouraging family well-being is a great way to keep employees engaged and motivated at work. Some companies even offer paid time off for their employees to attend their children’s school field trips. Generous maternity and paternity leave are also some great benefits that are offered by some employers. If employees feel how much their company cares about them, they will be willing to put forth their best effort while at work. People should feel as if their employer knows that family comes first.
Another benefit that companies offer is healthy lifestyle options. Many offices have gyms inside for employees and their families to use as they please. This encourages workers to get some exercise before or after work, or even go for a little walk in the middle of the day. Not only does this benefit the health of the employees, but it may also reduce health insurance costs for the company. For companies that do not have a gym in-house, some offer reimbursement for gym fees. Another way employers keep their workers active is to offer active bonding experiences, such as baseball nights and company walks. This lets employees socialize outside of work and come together as a group to bond and increase their health. Larger companies even have indoor rock climbing walls for exercise and team building. Some companies also offer discounts for healthy food options at their in-house dining facilities.
Bouncing ideas off of people who work in the same industry is a wonderful way to make a good idea great.
Offering free food and a break room is a great way to encourage employee satisfaction. Not only does this give employees a chance to take a break during the day and enjoy a snack, it also makes a common area for employees to gather together to share ideas and problems, as well as unrelated socializing. Bouncing ideas off of people who work in the same industry is a wonderful way to make a good idea great. Encouraging employee interaction with snacks and drinks creates a strong team that feels they can work together, rather than independently.
Employers who invest in their employees, through tuition reimbursement or offering classes and training, are likely to have those employees stay with them. Employees who feel like they are being invested in for their future are happier and more willing to devote time to their company. Offering such training also encourages employees to be able to be promoted within at a quick rate, letting them continue to feel successful. Companies also offer flexible schedules for those who are receiving an education that will benefit them in their career.
A huge benefit that lots of newer companies are developing happens to have a huge effect on company culture. Results based systems like ROWE give employees the chance to choose their hours, and focus their work on what really matters. While this creates a paradigm change in company culture, it also happens to be a well sought after benefit in 2016. The millennial workforce is all about pushing the envelope and making changes that actually matter, not just clocking in and out.
Offering great employee benefits is something companies invest in to have a low turnover rate and high productivity in the workplace. It is a way to attract great talent. Human Resource departments will often use online HR solutions to help employees understand and see on paper every benefit that is offered. These tools put everything in one place, making benefits administration a manageable function under all HR responsibilities. Companies that offer additional benefits to employees maintain a high quality of life around the office. While some companies may seem like they are spoiling their employees, it really is an area most companies can evolve into stand apart from their competitors.
Malcolm Rowlings is a freelance writer who focuses on finances, corporate training and best business practices. Those who have attended Malcolm’s coaching sessions will recognize his signature tagline “Big Ideas, Bottom Lines, Better Business.”
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