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Top Creative Benefits To Offer Employees

Top Creative Benefits To Offer Employees

Smart companies know that investing in employee benefits is integral to their success.

Offering employees standard, status-quo benefits is no longer a way to attract or retain your high-performing employees. Not only do companies need to get creative about the benefits they are offering, but also about the way that benefits are selected. Rather than the standard, one-size-fits-all approach to benefits, companies should tailor benefits to fit employees needs, interests and lifestyles. The breakdown of “creative” benefits is in offering non-traditional benefits that speak to employee needs and positive outcomes.

Details here:

Encourage Play

Regardless of what industry you’re in, encouraging a healthy amount of play for employees is an important aspect of the benefits package that you offer.

Many companies are integrating their company values or product into providing downtime for employees to enough life outside of their policies. For examples, a ski company in Denver gives employees “snow days,” where they are free to take the day off and head to the slopes with their company-purchased season ski passes. As companies continue to understand the importance of having happy employees that do their best work, integrating and encouraging play within the workplace (and work hours) will become an increasingly popular (and advantageous) benefit to offer.  

Flexible Work

Offering flexible work schedules and locations is not necessary a “new” benefit to offer, but is one that is gaining traction as an extremely popular benefit for employees and a beneficial one for companies. Allowing employees to adapt their work schedules to fit their lifestyle (kids, sports, energy levels, etc.) as well as allowing them to flexibility to work where they do their best work, is a radical structure that is slowly becoming commonplace.

A few companies have implemented a practice called “Duvet Days,” which allows employees to work from home last minute for whatever reason they decide. The idea behind this practice is to eliminate the amount of sick days employees take (either for illness or undisclosed other reasons) and promote flexibility of place for employees.

Volunteer Hours

Paid time to volunteer is a surprisingly high priority for employees of this generation, with 84 percent of millennials surveyed saying that making a positive difference in the world was more important than professional recognition.  

Encouraging employees to volunteer is a double benefit; employees feel their needs are being addressed while positively impacting your company’s reputation. At the same time, giving back is proven to boost overall happiness. Any smart business knows that happy employees are the key to a company’s success.

Complete Wellness

You can’t afford not to create vibrant, healthy work environments. Serious health problems seriously cost companies. Today’s workplace wellness goes beyond offering healthy snacks or starting a “steps” competition at work. Workplace wellness should target each individual employee’s wellness as a whole. A one-size-fits-all approach to wellness is no longer acceptable for employees or for promoting the potential of your workplace. Some great ways to implement complete wellness in your workplace is through:

  • Encourages short breaks throughout the day
  • Bringing nature into the office
  • Giving employees time off
  • Encouraging health lifestyles choices like
    • Self Reflection
    • Sleep
    • Nutrition
    • Movement
Travel opportunities

Encouraging employees to travel extends beyond giving a generous PTO allowance, and is an innovative way to spark personal development. Exploring new places, cultures and experiences has generally shown to boost creativity and bring fresh perspectives back to the office. For a creative benefit that also promotes creativity of your team, encourage employees to travel. 

Offering creative benefits that speak to employees’ needs, interests and lifestyles is one of the best ways you can keep the talent you have, attract the talent you want, and improve the workplace culture of your company. Benefits work best when they’re aligned to company culture and growth goals. Learn more at beni.fit.

Benefits

5 Examples of Employee Benefits That Align With Company Purpose

5 Examples of Employee Benefits That Align With Company Purpose

Employees are familiar with the mainstream benefits every company is expected to have.

Health care. Vacation. Performance bonus. Paid sick days. 401k. You know, the standard benefits.

What about the employee benefits that align with a company’s purpose? What are some examples of companies who are offering benefits to their employees that support and accelerate their main reason for being in business?

Here are five examples of employee benefits that align with company purpose.

AirBnb

examples of employee benefits

Purpose: Belong Anywhere.

How does AirBnb back up it’s company mission to help create a world where you can belong anywhere and where people can live a place, instead of just travelling to it?

Employee Benefit: Employees receive an annual stipend of $2,000 to travel and stay in an Airbnb listing anywhere in the world.

Why We Love This Employee Benefit: What better benefit than to enjoy your own company product?

What Can Your Company Do: Ask yourself the question, “How can employees use the products and services we offer?”

REI

employee benefits company purpose

Purpose: Inspire, educate and outfit for a lifetime of outdoor adventure and stewardship.

How does REI support it’s purpose through employee benefits? Two words: Yay Days. With Yay Days, REI employees get paid time to go out and play.

Employee Benefit: Every REI employee gets two Yay Days a year — each one a chance to try something new, challenge themselves in a favorite activity, or work on an outdoor stewardship project. Yay Days help REI employees reconnect with the outdoors and prepare them to deliver great knowledge and service to customers. In the first Yay Day period, nearly 75% of all REI employees took advantage and got outside, doing everything from building trails to running marathons.

Why We Love This Employee Benefit: It wouldn’t be right to sell outdoor products and not get to experience the outdoors.

What Can Your Company Do: Ask yourself the question, “How can employees experience what we stand for?”

Burton

employee benefit days

Purpose: To innovate the sport of snowboarding and pioneer new ideas and ideals.

REI gives Yay Days. Burton? Snow Days.

Employee Benefit: Employees receive season ski passes and “snow days” to hit the slopes after a big snowfall.

Why We Love This Employee Benefit: Who wants to fight through the snow to get to work when your company sells snowboards you can use instead?

What Can Your Company Do: What membership perks support your purpose?

Twitter

Purpose: To give everyone the power to create and share ideas and information instantly, without barriers.

Twitter is well-known for top of the line employee perks that the rest of us regular employers wouldn’t imagine providing. I don’t know about you, but perks like three catered meals a day or on-site acupuncture probably aren’t going to be implemented anytime soon at Beni.fit. However, Twitter does offer one lesser-known perk that supports it’s mission.

Employee Benefit: Improv classes.

Why We Love This Employee Benefit: Isn’t Twitter all about improv?

What Can Your Company Do: If there was a skill your employees had that would make them slightly better at their job, what could you offer to hone that skill?

Walt Disney Company

Purpose: To be one of the world’s leading producers and providers of entertainment and information.

Employee Benefit: Employees, their friends, and family enjoy the “Happiest Place on Earth” as much as their visitors by offering free admission to its parks.

Why We Love This Employee Benefit: Have you seen how much it costs to get into Disneyland?

What Can Your Company Do: Are there elements of your products and services that employees can utilize at little to no cost to you?

What examples of employee benefits do you have that aligns with a company purpose? Share your ideas with us and we’ll also include them in our post.

We believe that when humans thrive, companies prosper. Learn more at Beni.fit.

Benefits

How Technology Is Changing Benefits

How Technology Is Changing Benefits

Many businesses still manage human resources information manually, using paper records that are kept in file folders, or in some cases, scanned and kept in a file on a computer. When it comes time to look for someone’s file or gather data, there is no easy way to access this information. Further, the person in charge of HR usually finds themselves spending too much time on mundane paperwork. Time that could be spent focusing on strategic initiatives and finding ways to improve company culture.

Technology and smartphones have revolutionized more than our personal lives — they are redefining business as we know it. Technology has also made it easier for employees to understand the benefits that they are receiving, promoting both loyalty to the company as well as maximizing the benefits they utilize.

With the benefits that technology provides both the HR department and the employee engagement and understanding of benefits, let’s take a look at how technology is changing benefits.

Accessibility  

It is extremely important that employees know how their benefits are allocated. For example, employees should have access to information like the amount they are paying in taxes and whether or not contributions are being made to a 401(K) account on their behalf. Employees want to see their benefit information without a delay or having to jump through hoops. In the past, this likely meant a lot of work for HR departments.

With the increase in technology, there are now several apps that keep things simple by automating recordkeeping and data organization. This provides employees the convenience of being able to explore their data online whenever they want. This is truly a win-win for everyone as employees have their information at their fingertips and the HR team’s burden of gathering, updating and monitoring this information is reduced.

Efficiency & Accuracy

Making errors is part of human nature. But when it comes to healthcare and benefits, it can have major consequences.

Data entry mistakes on behalf of a benefits administrator can result in employees being enrolled in the wrong health plan or not being enrolled at all. This could create a mess for everyone involved — employees and their families, payroll, insurance carriers, etc.

“Technology is a powerful tool in our everyday lives and especially for HR leaders, with the right solution offering countless opportunities for increased accuracy and efficiency,” says Martin Mucci, president and CEO of Paychex, a payroll, HR, retirement and insurance services provider.

Meaningful Engagement

Most HR professionals don’t value their job for the paperwork and reports. They do it because they value helping and engaging with people. One area that employees desperately need help and communication with is their benefits and healthcare. To avoid confusing communication that could lead to poor decisions at enrollment time, employers need a simple and engaging communication plan that can help employees with their benefits. That’s where technology comes into play.

Thanks to technology, organizations can extend self-service systems directly to employees via the internet. These online communication systems can identify specific information an individual needs. In addition, they can send tailored messages that resonate on a personal level. This helps drive more meaningful engagement and improves confidence when it comes to decisions about benefits.

Overall, there is no doubt that benefits management has gotten harder and the stakes are higher than ever. Fortunately, technology helps improve the accessibility to benefits, the efficiency and accuracy of managing benefits and employee engagement. Because of technology, benefits are more than a budget line item — it is a key part of long-term organizational success.

How does technology improve your ability to provide and explain benefits to your employees?  Share your ideas with us, and we’ll also include them in our post. We believe that when humans thrive, companies prosper. Learn more at Beni.fit.

Benefits

Required vs. Voluntary Benefits: What To Know

Required vs. Voluntary Benefits: What To Know

Benefits are a typically overwhelming topic that many executives would prefer to avoid, but are one of the most important aspects in attracting and retaining top talent. Learning and understanding the ins and outs of the benefits that work for your company takes time and knowing where to go for the right resources. Here is a quick breakdown of required vs. voluntary benefits, and what you need to know about each. Providing excellent benefits is extremely important to the success of your business. Learn more below:

Required Benefits

Required Benefits are provided by the state or federal government, and are mandatory under law.  Here are the main Required Benefits and how they can be distinguished from voluntary benefits:

Social security

Social security tax and withholding is known as a payroll tax, meaning the employer will deduct half of the tax from their employee’s paycheck, and contribute the other half of the tax. These transactions are reflected in the W2 form and paychecks, and sent to the IRS.

Workers compensation

Workers compensation protects employees who might miss work because of illness or injury they receive while executing duties at their job. This compensation reimburses the employees for their trouble, and also covers any possible medical bills.

Unemployment insurance

If an employee is laid off due to company circumstances outside of their culture, such as downsizing the company, rebranding, etc., they can apply for unemployment insurance. Once signed up, they can receive income for up to 26 weeks.

Family and medical leave

The Family and Medical Leave Act requires companies with 50 employees or more to provide workers with job-protected and unpaid leave for specific medical and family issues. A few qualified medical and family reasons include: family military leave, pregnancy, adoption, and personal or family illness.

Voluntary Benefits

Voluntary benefits are not required. These benefits are decided on by the individual businesses and corporations that can outline specifically what and how much of the voluntary benefits they offer. They are often paid through employees’ payroll deferral. Here are some of the most popular voluntary benefits companies offer:

Dental Insurance

Approximately 80 percent of employers offer dental insurance. Dental care directly affects other parts of the employee’s health, including potential for diabetes, blindness, heart disease, etc. Therefore, it is in the employer’s best interest to help maintain employee’s dental care.

Vision Insurance

Vision coverage is also very important to overall health. Employers recognize that employees may need healthy eyesight in their field, and to help maintain that as much as possible. Approximately 84 percent of employers provide vision voluntary benefits.

Accident Insurance

Many companies offer voluntary accident insurance as a way to offset potential medical expenses that may come after an accident occurs. This insurance is often implemented with the idea “better safe than sorry,” and corporations are slowly moving to add this to their voluntary benefits.

Life Insurance

Approximately 94 percent of companies surveyed offer voluntary life insurance. Life insurance provides beneficiary funds in case the employer dies. Typically, an employee will pay a monthly premium in order to cover life insurance.

Disability

According to the Social Security Administration, approximately 30 percent of people will suffer from a disability of three months or longer during their working life. Disability insurance insures an employee’s earned income in case a disability makes it more difficult for a worker to complete their tasks.
Create an environment where your people thrive and your business performance skyrockets. We’d love to hear what innovative benefits you are providing to your workforce. Share your ideas with us, and we’ll include them in our post. When humans thrive, companies prosper. Learn more at Beni.fit.

Benefits

Why Tailoring Benefits To Your Employees Is Better

Why Tailoring Benefits To Your Employees Is Better

If you haven’t already heard: the one-size-fits-all approach to employee benefits and wellness is a quickly dying approach to employee benefits that does not yield best results, for employee or employer.

Benefits management is not just an annual event. It starts with knowing what’s important to your people and requires a strategy that aligns with these values as well as company goals. Providing choice and resources for your entire employee population is a trend that will continue in the future. So adapting your approach to creating a benefit plan is imperative. Read More

Wellbeing

Understanding You: The Importance Of Bio-individual Wellness

Understanding You: The Importance Of Bio-individual Wellness

The uniqueness of each individual human being is an idea that is reiterated to us throughout our lives. Our uniqueness spans far beyond our personalities and perspectives, and influences our most basic biological human make up. Everyone’s body is unique, depending on age, gender, location, ancestry, genes, etc. Because of this, what we take into our body, what nourishes it and what depletes it, is highly dependent on the individual as well. You may have heard the saying, “One man’s food is another man’s poison.” Listen to your body. It knows what foods and activity you need. It knows what is best for YOU. Here are some ways your body is unique, and how to listen to, and provide for its needs. Read More

Wellbeing

How Sleep Impacts Your Work, And How To Get More Of It

How Sleep Impacts Your Work, And How To Get More Of It

According to a Journal of Vision Study, a lack of sleep can make you less productive in the workplace. The sleepier you are, the longer it takes you to complete tasks. Sleep deprivation is linked to short-term stunted mental ability, and may make it more difficult for you to accomplish your objectives with ease.

According to the National Heart, Lung, and Blood Institute, after several nights of losing sleep—even a loss of just 1–2 hours per night—your ability to function suffers as if you haven’t slept at all for a day or two. Read More

Wellbeing

Why Workplace Wellness Doesn’t Work, And How To Change It

Why Workplace Wellness Doesn’t Work, And How To Change It

Workplace wellness is a controversial topic with many strong claims about its positive effects on employees, as well as many conflicting statistics. Although critiqued as an inflated and unregulated industry machine, workplace wellness proponents claim the implemented programs employees and their general health in the long-run. While there are overwhelming positive benefits of promoting health within the workplace, the truth is, the mass-approach to workplace wellness doesn’t work. Instead, a personalized approach to wellness is needed. Read More

Wellbeing

The Science Of Being Happy

The Science Of Being Happy

The science of being happy isn’t one failsafe answer that will produce a lifetime of un-stressful bliss, but rather a mindset. Being happy in your everyday life is a choice, and there are many other choices you can make to help promote this kind of thinking. Here are a few ways that you can promote a positive perspective and an overarching feeling of contentment and happiness in your own life. Read More

Benefits

The Benefits Of Having A Strategic Employee Benefits Consultant

The Benefits Of Having A Strategic Employee Benefits Consultant

Having a strategic employee benefits consultant is important for your bottom line, well-being of employees and future of your business. CEOs today need to think differently about benefits than they have in the past, because the way a CEO handles benefits and overall employee well-being has a direct impact on a company’s bottom line. Having a strategic employee benefits consultant is the first step in this process. Why? Read More