Perks and benefits help your company to recruit, retain, and satisfy employees. Employee benefits can make the difference when competing for top recruits, especially in today’s employee-driven market.
Earlier this year Glassdoor released a list of the 20 best employee perks and benefits, and there is information on the list that every company can use to improve their benefits package.
1. Netflix
Netflix gives employees a year of paid maternity and paternity leave. New parents are also allowed to return either part-time or full-time hours and can take additional time off as needed.
Takeaway: Offering your employees some paid maternity or paternity leave shows that you care about their well-being. Additionally, unpaid maternity can cause extra stress on a family and result in that employee coming back to work, from maternity/paternity leave, more on edge than when they left. This added stress can result in poor decision-making and decreased productivity.
2. REI
REI, an outdoor equipment maker, lets employees take two paid days off a year to enjoy their favorite outside activity, called “Yay Days.”
Takeaway: Encouraging employees to get some fresh air, is good for their mental and physical health. Also, if a benefit/perk aligns with what your company does, it helps to promote employee association with the organization.
3. Salesforce
Employees at Salesforce get six days of paid volunteer time off per year. If they use all six, that employee receives a $1,000 grant to donate to the charity of their choice.
Takeaway: Volunteer-time off gives employees a sense that their company cares about them and the community, which can increase employee loyalty. The opportunity to volunteer also helps employees to feel better personally and can lead to improved self-esteem.
Learn more about volunteer time off.
4. Spotify
Spotify offers employees six months of paid parental leave and one month of flexible work options upon their return to the office. They also cover the costs of egg freezing and fertility assistance.
Takeaway: Providing new parents with flexible work options can allow them to ease back into their jobs. These options can help to boost productivity and decrease a number of errors made by a new parent jumping back into their work full-time.
5. World Wildlife Fund
World Wildlife Fund lets employees take Friday off every other week (called “Panda Fridays”).
Takeaway: Offering employees the occasional day off can increase employee satisfaction. It also gives employees something to look forward to, which can increase employee productivity in the short term as they push toward that day off.
6. Airbnb
At Airbnb, employees get a yearly stipend of $2,000 to travel and stay in any Airbnb listing around the globe.
Takeaway: Employees can be reluctant to take a vacation because of the costs associated with them. Even a small travel stipend is a nice bonus that encourages employees to get away and come back refreshed and recharged.
For Airbnb, this benefit also shapes employee association with the company by offering them a benefit that aligns with the company itself.
Find out why your should encourage employees to take paid leave.
7. PwC
PwC gives its employees $1,200 per year for student loan debt reimbursement.
Takeaway: Offering employees a type of debt management benefit demonstrates your caring towards aspects of their lives other than work. Debt management benefits are also a good way to recruit and retain millennials.
8. Pinterest
Employees of Pinterest are provided with four paid months of parental leave, an additional month of part-time hours, and two counseling sessions to create a plan to re-enter the workplace.
Takeaway: Counseling sessions are an easy and cheap way to prepare employees to re-enter the workplace. Employees who have a plan to return to work will be mentally prepared and are likely to be more efficient.
9. Burton
Burton, a snowboard maker, offers employees ski passes and “snow days” so they can ski and snowboard after a significant snowfall.
Takeaway: Again, benefits that align with what your company does, allows employees to immerse themselves in the company, which builds the employee-company association.
10. Twilio
Twilio provides employees with a Kindle and $30 a month to purchase books.
Takeaway: Reading encourages mental stimulation, which supports personal growth. Employees like benefits that help them to grow both personally and professionally.
11. Twitter
Twitter gives employees perks including on-site acupuncture and improv classes.
Takeaway: Offering employees perks that decrease stress can help to improve employee satisfaction and increase employee productivity. Benefits that stimulate creativity can lead to creative work-ideas.
12. Accenture
As a part of their commitment to the LGBTQ community, Accenture covers gender reassignment for any of their employees.
Takeaway: Benefits that show commitment to a certain cause, such as the LGBTQ community, can lead to higher employee engagement.
13. Walt Disney Company
Walt Disney Company encourages its employees to enjoy its parks by offering free admission to employees, as well as their friends and family and discounts on hotels and merchandise.
Takeaway: If your business has a product, and you believe in it, encourage your employees to use it through some of your benefits. Getting employees to use your company’s products promotes business alignment and employee engagement.
14. Facebook
Parents at Facebook receive $4,000 in “Baby Cash” with a newborn.
Takeaway: Easing the financial burden of new parents (even if it’s less than $4,000) can go a long way towards reducing the stress of that employee, upon their return to work. The more stressed an employee is, the less likely they are to be productive.
15. Evernote
Evernote hosts classes for its employees, which can include team-building courses such as macaroon baking.
Takeaway: A strong work team can boost productivity and increase workplace satisfaction. Benefits that encourage fun team building help to grow the strength of your work teams.
16. Epic Systems Corporation
Epic Systems Corporation lets employees take a four-week paid sabbatical to pursue their creative talents after five years with the company.
Takeaway: Benefits that stimulate creativity can help both employees and the company. Employees will be re-energized and may offer have an influx of creative ideas for the business.
17. Adobe
For a whole week in December and one in the summer, Adobe shuts down the entire company.
Takeaway: Giving employees time off refreshes them. Refreshed employees result in increased productivity.
18. Asana
Asana employees receive access to executive and life coaching services outside of the company.
Takeaway: Benefits that provide employees with professional growth help to improve employee satisfaction. These benefits can also give employees a sense that they have a future in the company, which will improve retention.
19. Zillow
Zillow pays for traveling employees to ship their breast milk.
Takeaway: Employees who have to travel for work, especially new mothers, are likely to face more stress than they otherwise would. Benefits that ease some of these stresses can result in improved employee performance on the road.
20. Google
Google gives the surviving spouse or partner of a deceased employee 50 percent of their salary for the next ten years.
Takeaway: Every business needs to define its death and bereavement policies. It is unlikely your company will be large enough to offer this sort of benefit, but companies should always make sure to treat the family of a deceased employee with compassion and respect.
Learn more about bereavement policies.
The Wrap
Offering unique employee benefits does not guarantee your company’s success. Though, this list does show how a company’s perks can contribute to a successful business. The right set of benefits and perks can lead to improved employee productivity, satisfaction, creativity, engagement, and alignment.
No matter the size of your company, you can learn from the examples of these 20 businesses. It is important to understand the benefits these companies offer and then analyze your own. Your set of benefits and perks should be structured to fit your unique needs.
Furthermore, your business has to determine what benefits package best meets its needs based on a cost-benefits analysis. It is your duty to decide what your company can afford, and what utility each benefit will provide.