4 Critical Employee Benefits for Startups

employee benefits for startups

People seek employment at startups for a variety of reason. Startup culture is exciting, innovative and fast-paced. Individuals interested in working at startups want to work in an environment that energizes them, inspires them, and challenges them. Even with a strong connection the startups mission and vision, job candidates won’t overlook benefits packages. It’s important for startups to have strong employee benefits packages to bring in and be able to retain the most talented employees.

Here’s a look at 4 critical employee benefits for startups. These benefits do more than just “talk the talk.” They show startup employees that you value them and are committed to taking care of and supporting them on a number of levels throughout their tenure with your company.

Health Insurance

If your startup employs less than 50 people, offering health insurance may feel out of reach because of the expense. However, it is absolutely necessary to offer this in order to maintain a happy, productive employee base.

Health insurance gives employees a sense of stability. Also, healthy people are happier, more productive, and more influential within companies. Investing in your employees’ health results in higher quality work and higher employee engagement rates. No price is too great to make your employees’ worth known to them.

Flex Time

Your employees’ lives may not fit into a traditional 9-to-5 schedule. Flex time allows them to start and end their workday at times that work for them. You can let your employees have total freedom or give them a window of time each day to work with.

Allowing employees to craft their work schedule means less work hours lost every week because they have the flexibility to work a schedule that works for them. It also helps an employee feel that you see them as not just a worker, but a real human being with a life outside of work, and that validation is invaluable.

Monthly Wellness Stipend

If you offer a monthly wellness stipend in conjunction with typical health insurance, you will stand out from your competitors. Every person has different health needs and those needs are not always limited to physical health.

Give your employees a set amount of money with which they can use for any facet of their well-being, and you will have a happier, healthier workforce who will recognize your devotion to them and return the favor through dedication to your business. You need to give your employees the chance to be their best selves in order to get the best from them.

Provide a Technology Allowance

To keep your employees from having to shell out their own money for pricey devices, you can provide a technology allowance for them. It doesn’t have to be enough for top-of-the-line equipment. There are plenty of quality, budget laptops that would be perfect for work, and that’s true of any device. A few hundred dollars per person may seem like a lot, but investing in your employees is worth it. They will be better equipped to handle their jobs and will know that you value their skills. A technology allowance is a sign of confidence in their abilities.

Beni.fit helps businesses create quality, comprehensive benefits packages that align with their values and goals. Contact us today to learn more about how we can help your startup thrive with employee benefits.

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