7 Examples of Unconventional Employee Benefits Small Business Owners are Using to Attract Top Talent
Before the pandemic, employee benefits, perks, and incentives were centered around the traditional office environment. Today we are living in a very different reality. While millions of employees are still working remotely, we are in the midst of uncertainty regarding what work will look like in the months to come. At a time like this, while attracting top talent and retaining employees still remains a challenge, companies are re-evaluating their employee benefits to fit the current situation better.
This article is about a few unique ideas some of the small businesses are using to attract, recruit and retain talent. Let's have a look:
1. Benefits aligned with the brand mission
A lot of companies provide their employees with two weeks of paid vacation. That's a standard. But how many of them will pay their employees to go on a vacation? Million Dollar Baby Co., a baby furniture brand, is redefining the phrase "paid vacation."
The company offers employees a $700 annual subsidy to take a domestic trip. And when the employees return from a vacation, they need to present their learnings to the team - a great way to boost employer branding and encourage employee bonding.
2. Incentives ensuring workplace safety
Headsets.com has most of its 31 full-time employees working remotely. The company offers a $500 stipend to employees who get vaccinated before June 2021. It gives the employees a cash incentive while ensuring a safer work environment. Isn't it a total win-win?
3. Brag-worthy employee benefits
It's important to make your workplace a place that your employees can brag about in front of family and friends. Rachel Brenke, an attorney and business strategist at Eden Law and The Brenke Group LLC, has given her five full-time employees good enough reasons to brag about her company.
A mother of five, cancer survivor, and author of seven books, Brenke believes in the importance of a balanced personal life, and her employee benefits are aligned to that value. In addition to employee benefits like unlimited PTO, quarterly bonuses, and a retirement contribution plan, she recently supported her operations manager's fitness journey by gifting a Peloton to her for surpassing the company's revenue goals.
4. Massive employee discounts
IVF treatments are very expensive, but the Egg Donor & Surrogacy Institute in Beverly Hills, California, covers 50% of the total cost of IVF and medication for their employees. That's an astronomical saving for the employees, isn't it?
5. Importance to family planning
Miami-based law firm Mark Migdal & Hayden believes that family planning should be on top of mind for their employees.
If the employee is welcoming a child through birth, adoption, or surrogacy, the firm offers them four months of 100% paid parental leave. The employee has the freedom to schedule the four months of leave at any time in that year.
6. Flexible scheduling
Flexible scheduling is one of the most attractive amenities to offer your employees. Christina May, CMO and owner of Illumine8 Marketing & PR in Frederick, Maryland, encourages her employees to bring their 100 % to work, but sometimes family obligations or doctor appointments happen. So, she has made her team know that they can attend to these commitments without taking a leave - just advance notice is enough.
7. Paid work from home setup
Student Loan Hero offers some awesome benefits to its employees. While they offer $2,000 for their employees to purchase a laptop to work from home, they also ensure that they give a stipend of $500 every month for setting up/taking up a remote workspace (e.g., co-working space). That's not all! The company also gives $150 every month for health and wellness memberships and programs.
Your employees are your greatest assets. In this article, we have given you examples of how a few small companies are going above and beyond to offer unconventional perks to their employees. While it is not necessary for you to provide the same kind of employee benefits, your focus should be on establishing the right employee benefits and perks that will attract top talent, create a stronger work environment, and ensure better employee retention.
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