Many companies are struggling with the current labor shortage. Since there is now a greater emphasis on both recruitment and retention, companies are looking for ways to differentiate themselves from competitors. One strategy to stand out involves offering innovative employee benefits.
With the right employee benefits, you bring something to the table that professionals won’t find elsewhere. As a result, your business is able to attract a more diverse workforce, easing recruitment and retention woes.
If you are wondering which ones you should offer, AngelytiX Consulting shares five innovative employee benefits for your business.
1. Coaching Sessions
Your employees are often faced with tough choices. They have to determine the best path for their career, handle their personal financial responsibilities, and otherwise keep their life on target.
If you want to offer a benefit that can make decision-making easier, consider adding free coaching sessions to the mix. Additionally, have a wide array of coaching types, ensuring your employees can get expert guidance on a slew of topics.
Here are some coaching options you may want to offer:
- Career
- Empowerment
- Family and Relationship
- Financial
- Leadership
- Life
- Mindfulness
- Purpose
- Productivity
- Transformation
2. Mental Health Support
In any given year, around 26 percent of American adults have symptoms of a diagnosable mental health disorder. However, about half of those with a mental health condition end up going without treatment.
By offering mental health support as an employee benefit – including simple access to professional mental health counselors – you can increase access to critical care. Not only does this make it more likely that those who need ongoing treatment will get it, but it also makes professional support available to anyone who is experiencing trouble with intermittent issues, including workplace stress or burnout.
3. Living Perks
Many people want to live healthy lives, but they aren’t sure how to incorporate healthier living into their lives. If you want to make it easy, provide your employees with a variety of healthy living perks.
Providing classes on stress management, meditation, yoga, nutrition, cooking techniques, and similar topics could be great places to start. You could also partner with local businesses that support a healthy lifestyle, such as fitness centers, to secure discounts for your team, or create a rewards program for making good choices, like quitting smoking or maintaining a healthy weight.
You can even offer perks like tickets to local sporting events. Try getting discount tickets for the LA Dodgers or the Los Angeles Angels, and give out pairs for staff to enjoy with a plus-one.
4. Home Office Stipend
If your workforce is still working remotely, consider adding a home office stipend to your list of benefits. That can offset the cost of creating or maintaining a reliable, functional, and comfortable workspace. They can upgrade their furniture, buy much-needed equipment, or handle increases in utilities costs with greater ease, ensuring they can remain productive without a significant financial impact.
5. Educational Benefits
Educational benefits are always a great addition. Options like student loan repayment assistance or tuition reimbursement can be real differentiators. They eliminate a major financial burden for your employees, ensuring they can better themselves without busting their budgets.
Choosing Between These Innovative Employee Benefits
Many companies mistakenly think that any benefit they offer will be appreciated. In reality, every employee has unique needs, preferences, and priorities. If you don’t know what they want, your odds of missing the mark go up significantly.
If you want to make sure you bring the right benefits to the table, conduct an employee satisfaction survey every year. By reaching out, you can find out what matters to your workforce. Then, you can make meaningful changes based on their needs.
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