Building a great company is important, and it’s impossible to do it if your employees don’t feel protected. Sometimes, management focuses so much on the outcomes, business plans, and yearly goals that they forget how important employers are in that equation.
Here, we’ll share with you what are the most important perks and benefits any company should offer. Also, we’ll mention some of the modern perks as they’re becoming increasingly important.
The Difference Between Perks and Benefits
Every company creates its culture through its relationship with employees. All the benefits and perks that managers offer to their teams demonstrate how much value they bring into the team. Once you know the core values you want to promote, you can make a big decision on what perks you’ll offer to future workers.
For example, if a company values family, they’ll allow women and men to have a few extra months added to their family leave. If they want healthy workers, they’ll organize exercise, reimburse private coaching sessions, etc.
When it comes to benefits, they’re the key elements that any worker expects from senior management. It’s health insurance, life insurance, paid time off, family leave, and retirement planning. While perks are a great way to set a business apart from others, benefits are something that you must have if you want high-quality workers.
The first benefit everyone will ask about in their interview is health insurance. And if you’re based in the US, it’s even more important to make sure your employees are taken care of in case of a health emergency. Plus, every company with more than 50 employees is obligated to offer health insurance to all of them.
You can consider various types of health insurance depending on your company’s budget and preference. Since the health insurance marketplace offers health, dental, and vision insurance, you’ll have your staff fully covered. Providing healthcare makes your employers happier. Even if this sounds strange, the research can support it.
Every person needs time away from work to relax and recharge. If people don’t take their holidays, they’re more likely to suffer from anxiety attacks, develop burnout symptoms or worsen their physical health.
Unfortunately, most people aren’t using their vacation time every year, and companies fail to understand its importance to give their workers a few weeks off. Not only would it make them happier and more relaxed, but it will give them space to spend their time with family and friends.
Offering paid sick days is another great way to ensure everyone will stay home when they feel bad. Sick people are coming to the office because they’re afraid they’ll lose one day of income, and that kind of behavior isn’t beneficial for them and the team. If a company creates a culture where people come to work healthy, its productivity will improve.
Paid Family Leave
A new family member is equally exhausting for both parents. And when they have to come back to work after a few sleepless weeks, they won’t be at their best. So, instead of making them come back as soon as possible, HR can offer a paid parental leave for both parents.
This way, the management shows their support for young families and gives them time to acclimate to the new situation. Once parents are ready, they’ll be back happier than ever since they didn’t feel pressured to return and know that they still have a job waiting for them.
Some life insurance companies offer unpaid leave for certain life events. Still, certain companies went ahead of the curve and offered paid parental leave that made them great family-friendly environments.
Retirement Planning and Student Loans
Every company is obliged to offer retirement savings plans. Thoughtful employers should ask HR to inform every employee of their retirement options and plan their retirement plan.
On the other hand, if your staff wants to spend that money on their children’s education, companies should allow them to do it. Plus, you can even help you know that staff members pay out their student loans and then engage in retirement plans.
Choose What Works for You
While benefits and perks often sound good on paper, the only way to see whether the companies deliver on their promises is time.
Some people get unpleasantly surprised once they realize that the health insurance covers only a few checkups or when they’re not allowed to get a parent left because of a big project they’re working on. That’s why it is good to state your needs and find an employer that will take care of you and your family.