In today’s business environment, it is crucial to do more than offer employees a steady paycheck. Employers need to invest in the wellbeing of their clients! That means offering benefits and perks that support their work-life-balance and keep them healthy in all regards. Regardless of your company’s size, there are several benefits you can include in your business model. In all my years of consulting with various companies, I have identified five benefits that provide true value to employees.
1) Parental Leave
Offering medical leave for mothers is a great benefit, but it doesn’t cover all the bases. Not only should the policy include both mothers and fathers, but it should be longer than the traditional 6-8 weeks. Why? You should support your employees and the things that matter most to them. Which at this point in their life, is their child. By offering at least 3 months off, you allow employees time to adjust to their new life and bond with their new family member. When they do return to work, they will be more calm, collected, and frankly happy.
2) Tuition Reimbursement
Making 35% of the job market, Millennials are a major player in today’s business environment. Unfortunately, 3 out of every 4 Millennials struggles with crippling student debt. In order to help combat their financial stress, companies can offer monthly allowances for those struggling to pay off their student loans. Now, how much you offer truly depends on you and your company’s profitability. This benefit is valuable to a major, and growing, sector of the job market. Not only will it help you attract young talent, but it will help you retain them as well.
3) Flexible Work Hours
The days of 9-5 are well behind us for most industries. This is because employees have lives that don’t follow this schedule, and to be honest they never have. For years parents have missed important school events for their children and young professionals have sacrificed their social lives for their work. These small instances build over time, and they leave employees feeling unfulfilled in their personal lives. If you want your employees to stay with your company and continue their excellent work, you need to offer a flexible schedule that allows them to have a life outside of work.
4) Paid Time Off
On the note of work-life-balance, paid time off is a huge benefit for employees. Many companies position this benefit as “Unlimited Vacation”, but I find this to be misleading. It often results in employees believing they don’t have to budget their vacation time, when it is still mandatory- especially in small companies. By offering at least 25 paid vacation days a year, employees will be able to have enough time to do their job effectively and have time for their personal obligations. Missing out on big family gatherings, vacations, and important events can often be demotivating and result in decreased organizational citizenship behavior.
5) Total Wellness
When it comes to health, it is important to have an equal emphasis on both physical and mental health. Some innovative ways I have seen companies address mental health are: stress management classes, in-house yoga/zen rooms, and full relaxation retreats. By adding unique benefits like this on top of your health insurance plan, you can be sure you are looking after your employees total wellness. This will not only benefit your employees, but your organization as a whole!
Overall as the job market becomes healthier, competition for talented professionals will become more intense. In order to attract and retain employees, it is important that you offer benefits that provide them true value and support. Although all companies are different, one thing that should be constant is an emphasis on employee wellbeing.
About The Author
Ryan Nouis is the Founder & CEO of TruPath. His firm entered the Recruitment & Staffing Industry in 2015, and since then has placed executives in many businesses across various industries. His expertise lies in developing community partnerships, supporting non-profit organizations, attending trade organizations, and driving sales in the civil and construction industries.