In recent years, many companies have been exploring new ways to offer up benefits to their employees. It’s a competitive market out there. As a result, companies are offering up all sorts of new, innovative benefits in order to attract talent and keep them happy. The most common benefits include health insurance, retirement plans, tuition assistance, and even subsidized childcare.
ExerciseLine details some of the most creative, innovative ways that companies are trying to make their employees feel appreciated and give back at the same time.
Pay Employees to Take the ACT or SAT
Some companies are paying for their employees to take the ACT or SAT exams. These tests are not just for students—they are also used by many companies to screen potential hires, so taking them can be a valuable experience. Businesses that strive to be innovative offer this benefit in order to give their workers an advantage in today’s competitive marketplace.
Paid Parental Leave
Some innovative companies offer paid parental leave on top of what many other companies offer: Up to six weeks of paid time off when you have a new child. This makes it easier on parents who are trying to balance work and family life while still being able to provide for their families.
Health Insurance
One example of how companies are innovating with benefits is the way they offer health insurance. For healthcare, some companies are now offering reimbursement accounts instead of just offering traditional health insurance. With this type of account, the company agrees to pay a certain amount for each employee’s healthcare with a maximum per capita amount that will be reimbursed.
Retirement Plans
Many companies are realizing that in order to attract and retain talent, they need to offer up retirement plans. This is a benefit you would expect from every company, but it has been something that has not been offered by many employers in the past. A retirement plan may be essential for employees who are looking for stability and security when it comes to their finances when they retire.
Tuition Assistance
Tuition assistance was one of the first innovative benefits companies started implementing. And it’s still one of the most popular. This type of benefit is great because it encourages employees to continue their education, which will help them get promoted more quickly.
Subsidized Childcare
Some companies are now offering up subsidized child care as a way to help parents feel more at ease with juggling work and family responsibilities. This benefit may be especially attractive to working parents who have children at home, but it could also appeal to those without children if they’re looking for a company with good benefits.
Flexible Working Hours
Most companies offer flexible hours to some degree. You’ll often find that these companies offer this benefit to their employees as a way to balance work and life. Some companies have gone even further by offering unlimited vacation time. This means that you can take as much time as you need for vacations with no repercussions.
In the past, many people would only take a few days or maybe a week off per year because they were afraid of losing their job if they took any more time off. But with a handful of companies taking the risk, it is becoming common practice for many other companies to provide this benefit, as well.
Guest Writer: Julie Morris
