24 Oct Changing the Company Benefits Package for the Modern Work Force
With the millennials joining the workforce, the times are changing. The typical benefits of health insurance, sick leave, vacation time and personal days are still needed, but now employees are getting bolder about asking about specific types of benefits and employee packages. Larger companies may sometimes have more leverage to be able to offer more to their employees, but smaller companies can still compete with some unique employee benefit packages.
Here are some of the options that are popular within today’s work place.
- Paid Family Leave: Today’s modern work place is more flexible when it comes to growing families. Paid family leave comes in handy when there is an adoption, a surrogate, or a foster parent. Giving paid family leave is a good option when the typical maternity leave doesn’t fit the situation, but when a growing family happens in other ways. Being flexible in this area will set you apart from other employers.
- College Tuition Reimbursement: Today’s employees feel the pressure from their expensive colleges and class tuition. Some people have student loan debt as big as their house payment. To get some sort of relief, employers can offer reimbursement in a variety of ways. To begin an educational reimbursement program would be an enticing offer to help young graduates earn a little more, and to help keep them on board at your company.
- Work from Home Options: working from home isn’t a new trend, but it is a coveted one! Not everyone can take advantage of this at their job, but for those that can, it is very appreciated. It’s a big benefit if you can stay home on Fridays or work from home if you have a sick child. If your company has this option available, putting this in place even once a month may be worth it to keep a happy workplace and increase morale.
- Continued Learning Programs: Continued learning keeps our brains sharp, and the employees know it. Learning new skills keeps our minds fresh and keeps our employees from getting stale and complacent. Personal growth is a trend that we can all appreciate! Adding a continued learning program with classes they can choose from is a great way to keep them learning and growing.
- On-site Fitness Center or Employee Gym Memberships: With America at its heaviest ever, employees that sit down all day see the need to have on-site fitness options and gyms, close by. When employees are trapped at a desk all day, giving them a gym that is in the building can make a difference to the company morale and job performance. It also creates a healthier workplace.
- Healthy Snack/Meals Options: This request has been seen more often in recent years. People are asking for healthier snacks in the vending machines and at the cafeteria. Gone are the days when doughnuts and packaged candy and chips are all that is in the break room. Employees are more health conscious, now. As employers, we can certainly help support healthier eating habits.
- Financial Planning and/or Financial Match Programs: Employees are very mindful of how much their company is investing in them on a daily basis, and for their future. Most people want to see a financial plan in place so that they can invest in it, along with their employer. This is a big player in the mind of the employee and it holds a lot of weight when choosing a company to work for.
- Health Coaching/Health Incentives: Some places have on-site clinics and on-site health clubs, but having the option of a health coach is a fairly new practice. This move toward a healthier workplace is a positive one, and employees have taken notice and requested it. Health coaches are motivators too, and that is always a good thing for employers to have access to.
To have a truly modern workplace that offers more than just a paycheck to its staff members, it is important to change up the benefits plan and company offerings according to the staff requests. Maybe your company can consider incorporating one or two of these benefit, this year.