Employee benefits packages are extremely important from several perspectives.
Employees who receive benefits such as these feel appreciated and rewarded for their hard work.
Obviously, there are other benefits as well. For example, some benefits can improve employee morale. This means they will be happier, and this will lead to an increase in productivity.
Thus, it’s a win-win situation, both for them and for the company.
However, finding a benefits package that is both appreciated by employees and achieves the desired results is not always easy.
That is the purpose behind this blog post; it will provide you with five mostly spread employee benefits packages you can use immediately.
So let’s get to it.
What are employee benefits packages?
Employee benefits packages make up an array of indirect, non-wage compensation provided by employers to their employees.
They complement or replace monetary compensations, such as salaries, cash bonuses, commissions, and so on.
A wellness benefit, such as a gym membership, is an example of an employee benefit.
5 most appreciated employee benefits packages
Here are the five employee benefits packages most appreciated at the moment.
Health and wellness benefits
Health and wellness-related benefits seem to be among the most appreciated non-monetary compensations for employees. They can make the employee’s health better in many ways and under multiple circumstances.
Some examples of them include:
- Health, dental and vision insurance
- Free gym membership
- Free fitness classes (such as yoga and pilates)
Work-life balance benefits
Work-life balance benefits are among the most appreciated as well. In fact, they can help a person maintain a healthy balance between work and personal life.
These benefits allow employees to spend more time on activities they enjoy. That is bound to ensure employees’ satisfaction and boost their mental well-being and productivity.
Flexibility in work hours and the option to work from home are examples of work-life benefits.
As a benefit, you can include fun activities such as team excursions or an evening out. Apart from boosting employees’ moods, these activities can also build and strengthen relationships, leading to better collaboration at work later on.
Some examples of fun benefits are:
- Scheduled socialization
- Free weekly employee outings
- Surprise trips
There is no need to emphasize the fact that financial benefits are among the most appreciated by employees, as they enrich salaries.
There are different types of financial benefits. Here are some of the most common:
- Pension contributions
- Discount schemes and rewards
Additionally, employee training programs are also greatly appreciated by most workers as they provide the opportunity to develop knowledge and skills.
This could also be beneficial for your business since you’ll end up with more skilled employees who can potentially come up with new processes and innovations that could cut costs and save time.
Examples of training benefits are:
- Online and in-presence courses
- Group discussion and activities
- Job rotation
Your business can benefit from offering employee benefits packages, as it can encourage a positive work culture and increase productivity.
While choosing the right one may not be easy, there are a lot of valuable options to consider.
Those listed in this article are the most widely appreciated.
In order to find the one that is best suited to your business, you can also conduct surveys or ask your employees directly what they prefer.
Thank you for taking the time to read this article. Hopefully, it was helpful.
If you want to read more about employee benefits, check out Perkbox’s blog. There, you can find in-depth articles on the topic.