In April, RefreshLeadership.com readers were asked, “What benefits – not including health – does your company offer employees?” and according to the results, the top benefit was “casual dress code” (16%), followed by “access to training/certification classes” (14%) in second, and “flexible work schedule” (9%) in third.
The rest of the results are as follows:
- College tuition reimbursement – 8%
- Professional organization memberships – 8%
- Community service/volunteer opportunities – 7%
- Profit sharing/stock options – 7%
- Opportunities to work from home/remotely – 6%
- Cafeteria programs – 6%
- Company gym/membership discount at a local gym – 5%
- Generous/unlimited vacation time – 4%
- Opportunities to travel – 4%
- Childcare – 0.5%
Another 4% of respondents to the poll selected the “Other” option and provide their own thoughts, including:
- Anniversary Bonus
- bike tune-up and transit reimbursement
- Pension Plan
- Lunches twice per week
- Company car
- Fun “field trips” (e.g. escape rooms, painting, bowling, cooking, etc.)
Benefits are the key to success
According to Express Employment Professionals’ second quarter 2018 Job insights survey of businesses, only 18% of respondents said all their positions are filled—a 2% decrease quarter over quarter. Additionally, since the second quarter of 2017, the number of businesses that say it is “somewhat” or “very” difficult to fill positions has increased from 65% to 75%.
Interestingly, Glassdoor.com’s Employment Confidence Survey indicated that 60% of people say benefits are a major factor in deciding whether or not to accept a job offer.
So, one way companies can maintain their competitive edge and attract and retain top talent is to reevaluate and realign their benefits programs to focus on the perks today’s generation of workers expect from their employer.
Some of the most valued employee benefits include:
- Flexible work schedules – For many employees, the freedom to tailor a work schedule that better aligns with their lives outside of the office is a valuable perk. Work-life balance is an important factor that makes a major impact on engagement, productivity, and overall job satisfaction.
- Freedom to work remotely – In our increasingly connected world, the idea that you must be in an office building from eight to five in order to be a productive member of the team is falling by the wayside. Communication technology has come a long way from its humble beginnings and today workers can connect from nearly anywhere on Earth.
- Training/education opportunities or reimbursement – This one is a win-win situation. Upwardly mobile employees crave opportunities to build their skills. And, companies that provide those opportunities not only see better retention rates, but also reap the benefits of a more skilled workforce.
What are your company’s most unique or successful employee benefits? How do they impact engagement and retention? Let us know in the comments section below.