Get to Know the Employee Benefits of Modern Employers

In today's competitive business environment, it is crucial to retain talented employees who are the heart of any successful company. But how do you make sure employees are happy and contributing to the company's growth? The answer may lie in creative and effective employee benefits.

According to a recent study by Glassdoor (note: Glassdoor is an American site where current and former employees anonymously rate companies), as many as 57% of people said that the benefits a company offers have a big impact on their decision to take a new job. It's not just financial rewards, but also those that improve employees' quality of life and help them have a better work-life balance.

What Do the Surveys Say - What Benefits Work Best?

One of the most popular benefits today are flexible working hours and the ability to work from home. According to a 2022 Buffer survey, as many as 99% of employees said they would like to be able to have more flexibility for at least some of their working hours. This is because this way of working allows employees to better manage personal responsibilities and commitments and significantly reduces their stress.

Another recent survey says that up to 78% of employees said that health and wellness benefits are very important to them. These benefits can include health insurance, mental health programs, a company psychologist, gym memberships, or even on-site fitness zones and wellness programs.

According to a 2021 LinkedIn report, up to 94% of employees would stay longer if offered investment in their career development. This may include in-house training, specialist courses, external conferences or financial support for continuing education.

Future Workplace's survey shows that up to 80% of employees said they would prefer additional days off over a pay rise. The concept of "free Fridays" is not yet well established in Slovakia, but it is very popular in North American countries, especially during summer days. In Slovakia, the first company to introduce a four-day working week was the insurance company NN. However, this employee benefit is more likely to work in the type of work where the employee sells the employer the result of their work, not their time. Some companies are already pointing to positive results - rising productivity, better work-life balance, less need to stay at home on sick leave, or better work morale.

One interesting tip is to individualize benefits. With this model, however, you need to know your key employees very well and tailor rewards to their interests and needs. You probably already know that in this case, you can get really unusual benefits such as tickets to a football match, flights to a desired destination, or a subscription to a professional magazine. Special ergonomic chairs, a free smoking abstinence program, vending machines with refreshments, or various celebrations or awards - Employee of the Year, Newcomer of the Year, or a certain company also recognizes the so-called "mistake of the year" - are also interesting benefits. The question is what is the reward in this case... In short, there is no limit to your imagination, but rather to your time and budget.

All these benefits have one thing in common - they show that the company cares about its employees not only as a workforce but as people. Investing in these benefits can yield significant returns, including increased job performance, lower turnover, and a better corporate culture. So creative and effective employee benefits are not only an investment in employees but also in the company itself.

Don't forget to subscribe to our newsletter to get more tips and advice from different areas of the business world.