10 Innovative and Unique Employee Benefits to Offer
In the ever-evolving corporate landscape, companies are getting creative with their employee benefits. We asked ten top executives, including a CEO and an SVP of Strategic Partnerships, to share the most innovative perks they’re offering. From home-office perks for remote businesses to equity awards for boosting morale, discover the unique benefits that are making workplaces more appealing today.
- Home-Office Perks for Remote Businesses
- Flexible Workspaces for Choice and Productivity
- Funded Nature Retreats for Overall Wellness
- Well-Being Allowance to Reimburse Health Activities
- Student Loan Assistance to Help Manage Debt
- Mentoring for Accelerating Professional Development
- Baby Package to Show Employee Care
- Professional Development Meetings for Career Advancement
- Four-Day Workweek for Enhancing Well-Being and Productivity
- Equity Awards to Boost Morale and Contribution
Home-Office Perks for Remote Businesses
As a fully remote business, we provide home-office perks, which serve as a small permission structure for our team members to improve their workspace.
Whether it’s enhancing internet connectivity, device infrastructure, coffee supply, or acquiring a standing desk, these are the types of things that employees could purchase for themselves. However, offering these as perks is a good way to show that the company values their work environment and their comfort while they are working.
Flexible Workspaces for Choice and Productivity
One unique and innovative employee benefit that companies are providing today is the offer of flexible workspaces. Not everyone finds it easy to work from home.
So, giving employees the choice to use coworking spaces or open offices worldwide can be a game-changer. It gives employees a chance to choose a space that suits them, helps them stay focused, and encourages productivity.
At ZenMaid, monthly meet-ups in local workspaces for nearby remote employees are encouraged. It combines the flexibility of remote work with the collaboration of office environments. It’s about giving the right tools for success, no matter where they are.
Funded Nature Retreats for Overall Wellness
Redfish Technology is a recruiting firm working in the tech sector. Often, we are early to hear about a shift in company benefits as businesses vie for top candidates.
One interesting option that is becoming more common is funded nature retreats. Companies are becoming wise to the effects of constant screen time on their employees and are keen to offer wellness benefits that get workers reconnected to the real world. This can take the form of a group camping expedition or even a safari on another continent, but the key factor seems to be convincing teams to put down their phones.
Lower-cost options include yoga classes in the park and bird-watching walks. As dissatisfaction with contemporary work culture grows, this is a benefit that will add significant value to workers’ physical and mental health.
Well-Being Allowance to Reimburse Health Activities
Occasionally shocked, operating primarily in European markets, by how few American businesses seem to offer their employees a well-being allowance. This is something that you see quite frequently in Europe, as it is essentially a way for employees to claim reimbursement for activities that cover their physical and mental well-being.
These activities can include training at the gym, going to the spa, or purchasing certain books, etc. Numerous studies have shown that for every dollar spent on this type of scheme, you get significantly more back on your investment.
Student Loan Assistance to Help Manage Debt
One innovative and unique employee benefit that companies are offering today is student loan assistance or repayment programs. With the increasing burden of student loan debt, many employees face financial stress and delayed financial milestones. Student loan assistance programs aim to alleviate this burden and demonstrate an employer’s commitment to supporting their employees’ financial well-being.
Student loan assistance programs have gained popularity because they address a significant financial concern for many employees. By offering this benefit, companies can attract and retain talented individuals, enhance employee morale and loyalty, and demonstrate their commitment to supporting employees’ financial stability.
It’s worth noting that the availability and structure of student loan assistance programs can vary across companies. Some organizations may offer a fixed monthly contribution, while others might provide a lump sum payment or match employee repayments up to a certain amount.
Mentoring for Accelerating Professional Development
One innovative and unique employee benefit that’s gaining popularity today is mentoring. It’s a system where an employee gets matched with a mentor in their field. This mentor then helps the employee grow professionally by sharing their knowledge and experience.
I personally find this incredibly valuable as it accelerates professional development and fosters a culture of learning within the organization. In an ever-evolving work landscape, having someone to guide you can make a significant difference in your career trajectory.
Baby Package to Show Employee Care
It’s not common knowledge, but some companies may gift employees a “baby package” when their baby is born. This package could contain useful items for a newborn baby: diapers, baby creams, accessories, toys, a book, a baby-carrier wrap, etc.
While not a universal benefit, it’s a way for companies to demonstrate their care for their employees.
Professional Development Meetings for Career Advancement
One innovative and unique employee benefit that companies are offering today is professional development. A prime example of a company offering professional development today is Aflac.
Aflac, an insurance company, holds separate, gender-specific meetings where each gender gathers with executives of the same gender to discuss career development. Many employees want to advance in their careers and have the best career they can possibly have. Therefore, hosting personal development meetings that tackle just that does wonders for the company’s ability to attract, engage, and maintain its workforce.
Meanwhile, the employees feel even happier just to have an opportunity to work for a company furthering great agendas. Aflac’s goal of improving this ability is being achieved just by taking that first step to put the employees first.
Four-Day Workweek for Enhancing Well-Being and Productivity
With the rise of more flexible working arrangements in hybrid or work-from-home settings, some more progressive businesses and governments are exploring the costs and benefits of the four-day workweek.
So far, it seems to be a fairly unilateral success in most industries, with employees choosing a Monday-to-Thursday or Tuesday-to-Friday schedule that can be balanced by the business to ensure coverage. The demonstrated benefits have been fairly substantial thus far, with a massive reduction in sick leaves and vacation requests, and significant reductions in burnout and attrition.
Equity Awards to Boost Morale and Contribution
Equity awards are non-cash payments that give your employees partial ownership of your company. As a flexible employee benefit, you can custom-tailor the timing, commonly known as the vesting schedule, to determine when an employee can receive stock ownership. This mechanism helps achieve your goals such as recruiting, rewarding, or retaining talent.
For example, some companies allow new employees to immediately vest their awards as a sign-on bonus, while others structure their awards to vest over a long period of time to improve employee retention.
Unlike traditional cash bonuses, accepting equity awards transforms your employees into employee-owners. This can generate a feeling of team spirit and boost employee morale, while the motivation that comes with cash can quickly run out. They are also likely to make valuable contributions to the company because their success and wealth are linked to the company’s success.
Submit Your Answer
Would you like to submit an alternate answer to the question, “What is one innovative and unique employee benefits that companies are offering today?”
- 6 Drool-Worthy Benefits For Hospitality Employees – Beni.fit
- 6 Examples of Cutting-Edge Enhancements to Employee Benefits – Beni.fit
- Most Unique Employee Benefits (And Why They Work) – Beni.fit