Top Employee Benefits in 2023 for Engagement and Retention
by Hillary Khan / Homebodyhermit.com
hkhan@homebodyhermit.com
These days, businesses that want to retain and attract top talent must think outside the box when it comes to employee benefits and perks. Some companies are beginning to offer new benefits, like digital coaching, tuition reimbursement, and others, to boost employee satisfaction and engagement. The key is determining how your company can better serve your team members while staying within your means and resources. Below, Keller Professional Services looks at several innovative employee benefit ideas for your business in 2023.
Offering a Comprehensive Benefits Package
One way to attract and retain employees is to offer a comprehensive benefits package that meets their needs both inside and outside of work. Traditional benefits, like health insurance and 401(k) plans, are important. But you might also consider offering paid vacation time, vision and dental insurance, daycare for employees’ children, and other perks that will make your employees’ lives easier. One benefit that is simple to administer and even easier to use are virtual gift cards. Giving gift cards for cash or for popular retailers to employees is a compelling benefit, and it’s made possible by using this solution to distribute virtual cards.
By offering a comprehensive benefits package, you can show your team members that you care about their well-being and are committed to helping them balance their work and home lives. That can go a long way in establishing your business as a desirable place to work.
Covering Tuition Costs
Another way to invest in your employees is by offering to cover the cost of their tuition for degrees that are related to their jobs. Besides keeping your team members up to date on the latest industry trends, The Ascent notes that paying for their tuition shows that you’re invested in their development and are willing to help them further their careers.
In other words, the long-term value of paying tuition costs can far outweigh the upfront costs. Some employers provide full reimbursement for tuition, while others cover a portion. The best approach depends on your specific situation and the resources available.
Options for Burnout Prevention
As an employer, offering measures to assist with burnout prevention can be beneficial to both employee morale and productivity. Techniques such as clear conversation around workload expectations, establishing a healthy work-life balance, and encouraging employees to set realistic goals for career progression are key components to combating burnout.
Additionally, providing flexible hours or work-from-home policies, as well as allowing employees to take time off when needed, are also great ways of actively engaging in preventive methods. By creating safe spaces where employees feel comfortable discussing concerns and engaging in open dialogue, employers can take a proactive approach to nurturing employee mental health while providing support and guidance whenever possible.
Reimbursement for Gym Fees
More and more companies are providing reimbursement for gym fees as a way to promote healthy lifestyles among their employees. It’s no secret that gym memberships can be expensive, so this benefit can help employees save money while still being able to stay healthy and fit. You might even find a local fitness center that’s willing to form a mutually beneficial relationship with your company. Perhaps you could offer discounted services to the gym in turn for discounted or free gym memberships.
Free Nutritious Lunches
Another way to promote healthy habits among your employees is by offering free nutritious lunches. Grubhub points out that you can give your team members lunches on a daily or weekly basis with items like fruit, vegetables, lean protein, and whole grains. Free lunches not only provide a healthy meal option for your employees but also save them money that they would otherwise spend on buying food from a restaurant or grocery store.
Conclusion
By offering new benefits like digital coaching, tuition reimbursement, gift cards, free lunches, and others, you can show your employees that you care about their well-being and help them strike a healthy work-life balance. Ultimately, offering innovative benefits and perks can help your company attract top talent and significantly improve employee satisfaction, engagement, and retention. So, make 2023 the year that your business gives more to your employees and reaches new milestones as a result!
Keller Professional Services provides workforce training and program management, administrative assistant training, and management support to aid organizational development. Reach out today to learn more! 443.540.5901
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