With Open Enrollment just around the corner, a lot of us have benefits on the brain. If you are a business owner, you may be considering switching up the benefits plan you offer your employees. When was the last time you took a look at the plans you are currently offering through your company? In order to keep your employees happy and healthy, it’s important to offer them what they need so they will stick around and work their best for you.
Of course, offering your employees a free car will definitely make them happy, but that kind of benefit may not be so beneficial to your wallet. We want to help you find a happy medium. We’ve put together a list of creative employees benefits that will keep your team happy AND your wallet. Keep reading for our helpful tips!
First, Focus on What They Care About
In order to get the most bang for your buck, you want to ensure that the benefits you’re offering will truly benefit the lives of your employees. Think about the demographic of your office. Do you have a lot of millennials on your team? Considering Millennials made up the largest percentage of the workforce in 2017 – 56 million, outnumbering 53 million Gen Xers and 41 million Baby Boomers – you likely have a good number of Millennials on your team. If you do, consider what their needs may be. Any contribution you can make towards student loan debt is a great benefit to Millennial workers today.
With that being said, our list isn’t a universal list. First and foremost, you want to offer benefits that will meet the needs of the demographic at your company.
Creative Employee Benefit Ideas:
According to a study conducted by Future Workplace in 2017, 95% of human resource leaders admit that “employee burnout is sabotaging workforce retention.” How can you ensure that your employees don’t burnout? Offer flexibility. Offer your employees the choice to work when they want to work. 57 percent of employers currently offer flextime, and 70 percent of businesses allow their employees to telecommute some or all of the time. Studies show that flexibility promotes a healthy work-life balance in employees’ lives, and some employees are even more productive on the couch at home than at their desks. If you want to improve the lives of your employees, consider offering some of these flexibility options.
Chances are, your workforce is full of parents. Whether your employees are young first-time parents or have been juggling the work-home life for years, all of your teammates will benefit from family perks. Some creative benefits include planning a bring-your-kid to work day or a kid’s movie night. You may not be feeling that adventurous, and that’s okay, there’s plenty of options. Consider how your company can help with child care and ways that you can strengthen your parental leave package. Employers that pay for their employees’ child care expenses are allowed to claim 10-25% – or up to $150,000 – of those expenses each year. If your team is small, you can essentially cover the majority of your employee’s child care expenses. That’s could be a huge benefit for the new moms at your company!
Did you know offering a wellness program at your company could potentially lower health care costs, increase productivity, and provide tax incentives? Companies who offer wellness programs experience slower growth in health costs than companies without these programs. It’s common sense that a healthy employee is more likely to spend less time at the doctor, meaning more of their time is committed to productive working hours. An employer can keep their employees healthy by offering healthy snacks and fitness opportunities. Click here to read more about creative wellness plans.
These ideas only scratch the surface of creative benefits ideas. If you want to improve the culture and productivity of your company, then do some research into creative benefit ideas and choose which ones make the most sense for your company!
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