17 Attractive Job Benefits For Employees

It’s one thing receiving a paycheck, but it’s the extras that can help businesses attract and retain their top talent.

17 Attractive Job Benefits For Employees

To prevent a high turnover of employees, companies often offer incentives to keep their workers satisfied. These might include a number of job benefits that cater to each person’s personal and professional wellbeing. It’s one thing receiving a paycheck, but it’s the extras that can help businesses attract and retain their top talent.

Below are several tried and tested ideas, with a proven track record of tempting potential employees and satisfying existing ones. Keep reading for sure-fire ways to improve job satisfaction.

Benefits That Factor Into Everyday Working Life

Often, employees look for a job that brings social elements into their daily workday to help maintain a work-life balance. Furthermore, opportunities to advance their professional career adds to the skill set of both your employees and your company.

1. Professional and Personal Growth Opportunities

Every company wants to hire high achievers and motivated individuals. To attract these sorts of individuals, it is important to have opportunities for progression. This provides stimulation and fresh targets to conquer.

2. Working Flexibility

The impacts of the Covid-19 pandemic have driven working communities away from the office and more towards home working. This is aided by new technologies that a business can adopt to attract new individuals with flexible work. Staff are therefore awarded freedom and vast practical benefits.

Everyday Work Benefits

3. Team and Group Stimulation

Humans thrive on social interaction, being sociable creatures. Providing team and group stimulation will bond your team and can improve overall operations. This also gives your employees an insight into the less work-focused benefits of working for your company.

4. Office Culture

If your staff enjoy being at work, they will likely stay with you in the long-term. This causes employee satisfaction to skyrocket and creates a sense of family in the office.

5. Social Activities

Through social activities, employees are given the opportunity to form their own personal connections and bonds with co-workers. Good working relationships are known to boost operations. Also, they create a working culture built on trust and respect.

6. A Formal Job Title

Awarding employees with a formal job title will make them feel appreciated, valued, and respected. In turn, they will work hard to live up to their title and deliver quality work.

Mandatory Job Benefits

7. Unemployment Insurance

In case of a difficult economic situation, having some sort of unemployment scheme protects employees from losing their income. Knowing they have some security to fall back on is essential for a job for most employees.

8. Workers’ Compensation

Should your employees work in a potentially dangerous or hazardous environment, this will be a mandatory process. This compensates workers who get injured on the job.

Workers Compensation

Voluntary Job Benefits

These are also known as discretionary benefits, that a company might choose to offer to further entice and retain employees. This is non-wage compensation that contributes to improving job satisfaction.

9. Retirement Plan

This provides security for employees once they have left the company. They might, for example, put a little away each month to support themselves when they are no longer working.

10. Access to Health Insurance

Normally, this is only for the employee in question who has to sign up for the standard company policy. In some cases, employers do make a tax-deductible contribution to the employees own medical scheme though.

11. Insurance

If you want your job benefits package to remain competitive in the market, this is a recommended implementation. Aside from the discussed health insurance, many employers also offer disability and life insurance. This lets your employees know that they are valued and cared for.

12. Stock Options and Company Shares

This offers existing employees and potential candidates some additional financial incentives. Overall, this benefit provides long-term value in a way that bonuses do not and high achievers often seek this out when reviewing their package offer. Furthermore, larger corporations often offer stock options as periodic bonuses.

13. Advanced Education

Even if the job vacancy does not offer a high salary initially, offering advanced education gives employees the chance to build on their skill set. Therefore, they improve their CV and could apply for higher salary jobs within the company in the future. With this incentive, candidates might compromise on salary.

Advanced Education As A Company Benefit

14. Bonus Vacation Time

Regardless of how much an individual loves their job, few individuals wouldn’t jump at the idea of a bonus week of holiday. This doesn’t need to be offered as standard, but could perhaps be a recognition of achievement.

15. Commuting Cost Assistance

Companies that operate in an area with high commuting costs often offer this. For example, a city might have expensive rent, meaning employees live further out of the centre. Hence, they must spend more time commuting. Offering a financial incentive for commuting will make it worth their while!

16. Health and Fitness Benefits

Recently this has become a very popular incentive provided by employers. It proves to employees that the company cares about their wellbeing, and it also saves them money. For example, a subsidised gym pass or even just bicycle storage facilities.

17. Childcare

Either in-office childcare or assisting with its cost is becoming increasingly popular with employers. Companies with mature employees will likely have many parents working for them. These job benefits can improve the work-life balance and stop parents from having to give up work.

Conclusion

If you want your job benefits package to remain competitive in the job market, then take your pick from the list above.

Aside from the mandatory benefits, there are many voluntary ones worthy of consideration. Furthermore, creating a social and fun office experience that provides opportunities for professional progression will keep workers performing optimally. Not only will this improve employee retention, but it will also raise overall job satisfaction in your workforce.