Top 4 Employee Perks Your Team Will Appreciate
Employee perks—or benefits—are essential in your business. They show your employees that you care about them, giving something back for all their hard work. They also aid in employee retention, as people will want to stay for your company because of your fantastic perks. It's not uncommon for the employee benefits program to be the sole reason someone stays at a company long!
There are countless employee perks, but which ones are the most popular? Here are the top employee benefits your team will appreciate the most:
Healthcare insurance
It's no secret that the cost of healthcare is outrageously high. Consequently, one of the best perks you can offer your employees is free healthcare. Well, technically it's not free, but providing them with healthcare insurance means they are covered for a large selection of healthcare services. If they or someone in their family gets sick, they know they have the insurance to get the treatment required without it being a big financial issue. You more than likely will want to speak with a Group Health Insurance broker, for instance, so you can see if this would be a good option for taking care of your employees.
Wellness programs
Along with the healthcare theme, many businesses provide wellness programs. These can include all sorts of things - such as employee health screenings. Effectively, a wellness program is designed to help your team remain healthy in all aspects of their well-being. This includes providing mental health services to deal with stress, implementing healthy eating habits at work, etc. It's a desirable perk as your employees know that you are actively trying to look after their health & well-being.
Annual bonuses
You really need to implement an annual bonus of some sort in your business. While people love all the wellness and healthcare perks, nothing compares to financial ones. They enjoy getting extra money for working hard, and you should create a bonus system that rewards the hardest workers more than others. How much should you offer as a bonus? It really depends, and some industries offer a lot more than others. In truck driving, a lot of truck driver teams can earn up to $10,000 in bonuses each year. However, this is largely down to the amount of work they do, driving for 11 hours each day. In a typical office job, the industry average will probably be well below this. A good idea is to find the average for your industry, then offer a little bit more than it.
Employee discounts
Providing employee discounts on your own products/services is an excellent idea. They get to save money, but you also ensure that they aren't using rival businesses! Alongside this, try to work with other companies to provide discounts for your employees as well. For instance, you might be able to negotiate a discount with the local grocery store, so all of your employees get money off whenever they shop there.
Any type of employee perk is better than not having one at all. Still, if you want the best perks to please your team, these four are the top ones to consider.