In an increasingly competitive job market, the benefits offered to both prospective and current employees are a critical part of a company’s recruiting efforts. Rather than sticking with the same old perks that have become standard across many industries, offering unique corporate perks can help companies capture the attention of promising candidates while retaining their current workforce.
With so many options available, business leaders can easily become overwhelmed when deciding which benefits best suit top talent. To narrow the selection, 19 ukbusinessupdates.com Business Council members each share one perk that a company should consider in order to retain current employees and attract new ones.
1. A positive work culture
As a leader, you must focus all your actions on fostering a positive culture to attract and retain active talent. Start by understanding how you try to attract and retain talent. Find out what potential and current employees really value and value in their work environment. Gaining these insights will help you develop effective tools and strategies tailored to their specific needs. – Francisco Ramirez, The ACE group (TAG)
2. Customizable Benefit Packages
Consider offering perk packages that employees can put together to meet their needs. Allowing employees to tailor perks to their needs will likely make them happier. In the case of fringe benefits that apply to all employees, nothing seems to beat the next two: covered monthly insurance premiums and business assets. Finally, ask employees what they want. – Ty Allen, SocialClimb
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3. Right care options
Especially in the US, the healthcare system is so broken that entire lives can be destroyed when one person or a family member gets sick or injured. Providing employees with proper physical and mental health coverage is one of the most effective ways to attract and retain talent that will contribute to a company’s success. – Ori Carmel, sow
4. Mental Health Resources
Today’s workforce is paying increasing attention to their mental health needs and whether their company places the same value on prioritizing employee mental health benefits. Consider adding mental health resources and an employee support program to showcase your company’s humanistic values and prevent employee burnout. – Dana Wang, RIVIA Ghost
5. Personal training sessions
I would like to share our experience in offering personal trainers. Health and well-being are the most critical things when it comes to our team’s performance. Our company offers free personal training sessions at the most innovative gyms in Amsterdam. – Baris Kavakli, Portera BV
6. Flexibility and autonomy
An advantage, and frankly this should be a table bet and not an advantage, is flexibility and autonomy. Giving employees more control over their working hours and location can significantly improve work-life balance and job satisfaction. This will demonstrate trust in employees and recognition of their needs, increasing the retention and attraction of top talent who value flexibility and autonomy. – Anne Bib, Remote Evolution™
7. One-on-one attention
Maya Angelou once said, “I’ve learned that people will forget what you said, people will forget what you did, but people will never forget how you made them feel.” If we can make time to meet one-on-one and talk to the people who work for us and those we may want to work for, I believe that when you give your time, you invest in them. Your presence is invaluable. – Aaron Skinner-Spain, NYC Affirmative Psychotherapy LCSW PLLC
8. Professional Development Opportunities
Investing in training, education and upskilling opportunities is a huge win-win for talented team members and companies alike. Your best team members embrace learning and want to improve themselves. If you’re willing to invest in them, they’ll pay you back tenfold by using what they’ve learned to make your business stronger. Especially leadership training is always valuable. – Tara May, Aspiritech
9. Employee Loyalty Programs
I recommend employee loyalty programs. For example, you can offer a two-wheeler to employees who continue for one year, a four-wheeler to them after three years and a trip abroad after five years with a maximum budget cap. – Raj Madula, Global squirrels
10. Stocks
Make your employees your business partners by giving them shares in the company. Involve them in key strategic decision making by fostering a culture of transparency and empowerment. Also help your employees find their life purpose as this is one of the greatest gifts you can give them so that they can find more fulfillment. Then have them live up to that goal daily through their work. – Andrea Vanacker, SPARKX5
11. Bonuses
Something that has worked for us is making our employees feel like part of the company. Give bonuses depending on the profit of the company in combination with the achievement of company goals. – Pedro Barboglio, Remote team solutions
12. Work-life balance
Because of quitting quietly, I think the benefit you should provide is work-life balance. You can do this by offering flexible work options such as remote or hybrid work, paid time off, employee support programs, continuing professional development opportunities and wellness programs. – Paul Stepanov, Virtudesk
13. A flexible work environment
One benefit that can have a significant impact is providing a flexible working environment. By offering options such as flexible working hours, remote working options or shortened work weeks, employees can achieve a better work-life balance. Flexibility will not only help retain current employees, but also attract new talent as it demonstrates a commitment to supporting their well-being and individual needs. – Stephen Sokoler, trip
14. Trips and travel
Experiences survive gifts in people’s minds, so offering outings and travel on a time served or reward based mechanism is good. Simply put, everyone likes to go on holiday, including people who are on the road 24/7. Given the unique nature of these benefits, employees will likely be thankful that the company recognizes their hard work and let their network know about it. – Anna Stella, BBSA
15. Employee Oriented Vacation Policy
One benefit we have used to retain our top talent is paid time off with a flexible vacation policy. Our employees need time off to interrupt their daily work routines and spend quality time with family and friends without having to worry about money or time. We believe that offering paid time off within a robust employee-centered vacation policy plays a major role in achieving those goals. – Eric Pam, Health channel
16. An extensive wellness program
One benefit companies should consider to attract and retain talent is a comprehensive wellness program. This benefit focuses on the well-being of employees and demonstrates a commitment to their physical, mental and emotional health. A strong emphasis on the human element through a wellness program promotes a positive work environment, boosts morale, increases productivity and helps attract and retain top talent. – Neena Pandey, The string code
17. A hybrid working model
The concept of a hybrid working model is a great benefit that helps companies not only retain existing talent, but even attract new talent. Demand is growing and companies need to realize that the hybrid working model is the future. – Ravindr Singh, Code Consulting
18. Equity
At Project 10K, we recognize the value of true ownership and investment in the success of our portfolio companies. To ensure our employees are fully aligned with the mission and invested in the growth of each company, we offer an equity pool in each company they work for that rewards key team members for their contributions and commitment. – Jared Yellin, Project 10K
19. A community
An important benefit a company can provide is to make employees feel part of a meaningful community. Even with remote work, we all want to feel like we’re part of something bigger than ourselves. While a work community won’t replace a family, making sure all employees feel included will make a huge (and positive) difference. – Catherine Wehlburg, Athens State University
