As the world of work changes, so does the need to update the list of employee benefits that companies offer to their employees. As mentioned in part 1 of this blog post on Gradvisor, “What sets an employer apart is a great compensation package that not only covers the basics, such as healthcare and planning for retirement, but also focuses on life balance as the key benefit offered. The new workforce expects more from their employer, because as employees, they have options.” This need has caused us to create a list of employee benefits that your company may secretly need.
List of Employee Benefits Your Company Secretly Needs
Retirement Lifestyle Planning:
More than ten thousand baby boomers will exit each day from the workforce over the next decade. That’s about 30% of the workforce in a state of transition. Many organizations are enlisting retirement lifestyle planning to provide support to baby boomer employees preparing for retirement. Surprisingly, the thing retirees miss most from working isn’t the steady paycheck, it’s the social connections. Careerminds' Evergreen program provides pre-retirees an assessment across 6 life arenas, and then matches them with a certified retirement coach to be counseled on their results. Participants meet regularly with their coach, where they receive advice and make plans for retirement using their assessment results . This program is also a great way to encourage communication with reluctant retirees, as it can provide a segway into discussing their retirement outlook. The great need for this type of program due to societal changes elicits a top spot on our list of employee benefits. For information on how to prepare for conversations with reluctant retirees, download our guide here.
The world of work has actually changed more in the last eight years, than in the forty before it! Long gone are the days of working nine to five and having complete freedom from work during personal hours. Employees are working longer hours than ever before, and even when they aren’t at work they are always connected through technology. How many times a day do you check your email outside of standard work times? Probably a lot! The traditional way of work has changed and so must vacation plans. Two weeks of vacation every year may have been enough time for traditional nine to fivers, but in today’s climate it isn’t parallel to the amount of hours worked. A sabbatical program on your list of employee benefits that allows your employees to take an extended amount of time off work in a set cadence is a great way to ensure your talent stays recharged and innovative in their roles. (This has to be the most fun & rewarding idea on our list of employee benefits your company secretly needs!)
Mindfulness is an important part of staying innovative on the job. Studies have shown that yoga and meditation can increase performance and confidence. It is almost every organization’s objective to improve results through performance, efficiency, and productivity. Allowing your employees to take time out of their day to focus on being mindful by including this on your list of employee benefits can result in increased performance for your organization. Companies can designate a room in their office as a meditation room, and then allow employees to use the space for twenty minutes each day, or bring in free yoga classes as a workday perk. This new age benefit is one of the most unusual, but also most impactful on our list of employee benefits.
Employees spend more time away from home each day due to longer work hours and commuting, making it difficult to care for a pet. Dogs can spend hours by themselves everyday, resulting in a sedentary lifestyle that is unhealthy for them. Allowing your employees to bring their dogs to work by making this part of your list of employee benefits will improve the lives of their dogs, as well as create appreciation from your employees due to your “daycare” facility. Also, studies have shown that playing with animals can be a great stress relief for people. Having this available to your employees will help them to remain balanced throughout their day. Who doesn’t want playing with puppies included on their list of employee benefits?!
As the war for talent and the need for business results become more competitive, offering benefits that impact your organization in a positive way will become a necessity. Whether you add on ideas from this list of employee benefits as a way to attract or retain talent, or to create a more productive workforce, it is important to utilize them to meet your objectives!