Jobs come with perks, they always have. These days, those perks are often codified as benefits and included in employee contracts as part of a comprehensive package. When putting together an appealing package for employees, there are commonly included benefits like healthcare, retirement plans and stock options, but there are others, less well known.
Bank partnerships can be a powerful ally both for you and for your employees. Of course, they can work with any bank, but if they open accounts at the bank you have an agreement with, they can get special benefits, everything from faster paychecks to better auto loan rates. It's a symbiotic relationship: the bank gets access to more customers, you get their help offering benefits to your employees and your employees get better banking assistance. It makes your paycheck to them more valuable in the long run.
Not everyone can work from home indefinitely, and for those that don't work from home, commuting can be the worst part of their day. Traffic, parking and tolls all play their role in making a commute unpleasant. You might think there's not much you can do about that, but you're wrong. Employee benefits that chip in for transportation costs can be a real boon to employees. Even something as simple as free parking near the office or a public transportation stipend can make a huge difference.
Another thing that can make a huge difference is fitness benefits. You should already offer a comprehensive health insurance plan, but an additional wellness package that includes gym memberships or other preventative health measures can be a real draw. Healthy food options, health spa days and mental health benefits are just a few options you might want to include. A comprehensive wellness plan means that your employees rely on their healthcare insurance less, as fitness and wellness plans are excellent preventative medicine. After all, your employees can't work if they're sick!
Your employees also can't work well if they're worried about their families. This is especially important for young professionals who are thinking about starting a family. The lack of national guidelines that help young working parents take time for their families is, to be honest, shameful, especially when compared with the benefits already available in most other developed nations. Make sure to have a comprehensive plan for parental leave not just for mothers but for fathers too. It's not that disruptive and it shows employees that you care about them beyond the very basics of what they can do for you.
If you make your employees choose between family and work, everyone loses. No one should be forced to make a choice like that, which is why so many countries do have more robust child support systems. In addition to leave for new parents, doing what you can to offer childcare support options really shows employees that you're willing to go the extra mile. It also fosters community and loyalty within the company. If your employees' children attend the same daycare and become friends there, then that creates an additional bond and brings your company closer together.
Another benefit that is as good for you as it is for your employees is education benefits. You want your employees to challenge themselves and keep improving but hard to do that while working full time. By offering assistance to employees who want to pursue further education, either through advanced degrees or professional development or other certifications, you can get higher quality employees and earn their lasting loyalty.
This isn't to say that you want to completely eliminate employee turnover. Some turnover can be good for a company, but too much employee turnover suggests that you are not doing enough for your employees. Benefits packages can go a long way to help you attract and keep the best employees. Salaries are important, working conditions and culture can go a long way to keep morale up, but benefits build trust and loyalty.