When it comes to attracting and retaining top talent, offering competitive salary and benefits packages is no longer enough.
Want to win the talent war? Competitive perks are your secret weapon.
In today’s job market, employees are looking for more than just monetary compensation – they also want perks that enhance their work experience and improve their overall quality of life. In fact, according to a study by Glassdoor, 57% of job seekers consider perks and benefits among their top factors when deciding on a job offer (1).
So what exactly are employee perks? And how can you use them to make a difference in your workplace? Let’s explore some of the most coveted perks and how they can benefit both employees and employers.
Employee perks are additional benefits or non-monetary offerings a company provides to its workforce.
These perks go beyond basic salaries and standard benefits (such as health insurance) to enhance employees’ work experiences and overall well-being (2). Examples of employee perks include flexible work schedules, gym memberships, wellness programs, mental health support, free snacks, and learning opportunities.
But why are employee perks so significant?
BetterMe corporate wellness solutions help employees fight burnout and prevent chronic health conditions. Boost your team’s performance, improve job satisfaction, and lower medical expenses with BetterMe.
By investing in employee perks, businesses create a work environment where professionals feel supported, healthy, and motivated. While these perks may entail upfront costs, the long-term return on investment – through improved performance, loyalty, and talent retention – makes them a strategic decision for forward-thinking employers.
Are you looking to transform both your business and the lives of your team members? BetterMe corporate wellness solutions provide a holistic approach to physical and mental health that boosts productivity and job satisfaction.
When discussing workplace rewards, “employee perks” and “traditional benefits” are often used interchangeably. However, they constitute distinct elements of employee compensation packages, each serving unique purposes. Understanding their differences helps businesses craft more comprehensive strategies to enhance employee well-being and job satisfaction:
| Traditional Benefits | Employee Perks | |
|---|---|---|
| Definition | Foundational components of compensation, addressing essential needs such as financial security | Supplementary offerings designed to enhance work-life balance and overall well-being |
| Examples | Health insurance Paid leave Retirement plans (e.g. 401(k)) Life insurance | Flexible work schedules Wellness programs Free snacks or meals Learning opportunities |
| Role in Employee Satisfaction | Focuses on fulfilling basic needs and ensuring financial and health security | Improves day-to-day experiences, fostering enjoyment, appreciation, and workplace loyalty |
| Impact on Recruitment and Retention | Provides baseline appeal for job offers and stability but may not stand out in competitive markets | Helps attract top talent by signaling a modern, employee-centric approach; boosts engagement and reduces turnover |
| Flexibility | Typically standardized across the entire workforce to ensure uniform coverage | Often customizable or tailored to individual preferences, enhancing inclusivity and value |
Read more: How to Keep Employees Engaged: Here’s What Great Managers Do
Modern employees are looking for perks that go beyond the basics, address their unique lifestyle needs, and promote overall well-being. BetterMe for Business provides a range of solutions that are tailored to these demands. Below are six highly valued employee perks that align with today’s workplace expectations.
1. Flexible and Inclusive Fitness Programs
Providing access to fitness resources that cater to all levels and abilities is increasingly important. BetterMe’s app includes over 1,500 workouts, ranging from general fitness to disability-friendly or limited-mobility exercises. These personalized options enable employees to maintain physical health on their own terms, fostering inclusivity and accessibility.
With many employees working long hours at their desks, short, accessible workouts can make a big difference. BetterMe for Business offers 5-10 minute desk workouts, covering stretches, yoga, and cardio exercises that seamlessly fit into daily routines. These exercises boost physical health and enhance productivity and creativity.
Team-building through group wellness activities is another valued perk. BetterMe allows teams to connect through Zoom-based group workouts, warm-ups, or meditation sessions. These interactive features promote camaraderie while enhancing focus and fostering a culture of shared well-being.
2. Comprehensive Mental Health Support
Mental health remains a top priority for today’s workforce and BetterMe addresses this need with structured programs. Its mental health app includes mindfulness exercises, guided meditations, and burnout prevention courses. These tools empower employees to manage stress, improve focus, and sustain mental well-being.
3. Burnout Prevention and Education
Burnout is a common concern in modern workplaces. BetterMe for Business provides educational tracks, techniques, and guided materials that are designed to combat burnout effectively. This proactive approach cultivates resilience, which helps employees maintain long-term engagement and vitality.
4. Personalized Nutrition Guidance
Nutrition plays a vital role in overall health and well-being (5). BetterMe’s app offers personalized meal plans, grocery lists, and recipe ideas tailored to each employee’s dietary preferences and goals. These features make it easier for employees to maintain healthy eating habits while juggling busy work schedules.
BetterMe has excellent tools for your business all in one place: a personalized approach to health and wellness, 1,500 workouts for every fitness level, a variety of meal plans and trackers to satisfy any dietary needs, mental health guides, and employer support. Discover all the options now!
5. Learning Opportunities
Continued learning is essential for professional development and job satisfaction. BetterMe offers educational resources such as wellness podcasts, mindfulness courses, and finance management webinars through its app. These materials allow employees to expand their knowledge base beyond their specific job functions, promoting personal growth and engagement.
6. Flexible Work Arrangements
The COVID-19 pandemic highlighted the importance of flexible work arrangements. Employees value the ability to work remotely or adjust their schedules to accommodate personal needs. BetterMe offers a range of resources to support flexible work, including virtual group workouts and mental health tools accessible from anywhere.
Aligning perks with employee expectations requires a strategic approach that values personalization, inclusivity, and open communication. Here’s how you can achieve this alignment.
Gather Feedback Through Surveys and Open Communication
Understand Generational and Lifestyle Differences
Tailor Perks to Diverse Preferences
Leverage Data and Trends
Adopt Inclusive and Flexible Approaches
Review and Update Offerings Regularly
The most effective way to calculate the return on investment (ROI) of perks is to use a simple formula:
ROI = Net Profit / Cost of the investment * 100
To determine the benefits gained, businesses should quantify factors such as increased productivity, reduced turnover costs, and lower healthcare expenses. For example, if a wellness program reduces absenteeism and leads to fewer sick days, the cost savings from unclaimed sick leave and increased work output should be factored in.
Similarly, if offering flexible work arrangements improves retention, compare the cost savings from reduced hiring and training expenses against the cost of implementing the perk.
Additionally, organizations can assess revenue-related impacts by tracking performance metrics, such as improved sales figures or project completion rates, and linking them to perk utilization.
While some benefits, like enhanced employee morale, may be harder to quantify, incorporating surveys and performance analytics can help translate them into measurable business outcomes. By consistently analyzing these factors, companies can make data-driven decisions to optimize their perks strategy and maximize ROI.
Read more: Wellness Programs for Employees: Your Blueprint for a Healthier, Happier Team
An individual approach to the fitness, nutrition, and mental health of your employees, together with BetterMe employer support – you’ve got everything at your fingertips. What are you waiting for? Access all the benefits now!
To stay ahead, companies can adopt a proactive approach through multiple strategies.
Attending industry conferences and seminars is a great way to learn about the latest developments. These events showcase innovations in employee perks, from well-being programs to flexible work arrangements, and often feature expert-led discussions on their effectiveness. Networking opportunities at such gatherings also allow HR professionals to share insights and learn from their peers.
Another practical strategy is subscribing to HR publications, blogs, and newsletters. These resources provide regular updates on emerging trends, case studies, and data-driven insights. Staying informed through trusted industry sources ensures companies can adapt their offerings based on evidence-based practices.
Connecting with other HR professionals, whether through formal networks, online forums, or social media groups, also fosters the exchange of ideas and best practices. Sharing experiences with peers can help identify which perks resonate most with employees, particularly in specific industries or demographics.
Finally, choosing the right provider for managing employee perks is essential for maximizing their impact. A reliable provider can systematically analyze data on perk usage, identify trends, and offer data-driven insights to improve engagement.
By leveraging advanced analytics, businesses can track which perks employees find most valuable and adjust their offerings accordingly.
Additionally, the right provider will proactively suggest new solutions tailored to workforce needs, ensuring perks remain relevant and effective. Partnering with an expert in this space not only streamlines perk management but also enhances employee satisfaction and retention.
By staying informed through these channels and prioritizing continuous learning, companies can design a perk strategy that not only meets current needs but also adapts to future trends.
Employee perks may not be essential components of employee compensation packages, but they play a crucial role in enhancing job satisfaction, retention rates, and recruitment efforts. With BetterMe for Business, companies can provide an array of valued perks that are aligned with modern workforce expectations and promote overall well-being.
These offerings not only benefit employees but also contribute to a more engaged, productive, and loyal workforce. Invest in the well-being of your employees through these modern perks and see the positive impact they have on your business performance.
This article is intended for general informational purposes only and does not serve to address individual circumstances. It is not a substitute for professional advice or help and should not be relied on for making any kind of decision-making. Any action taken as a direct or indirect result of the information in this article is entirely at your own risk and is your sole responsibility.
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