It is no secret that employee benefits play a crucial role in how workers feel about a corporation. In fact, in a report conducted by Aflac, 49% of employees stated that they would look for a new employer due to dissatisfaction with their benefits options. Conversely, another study conducted by Willis Tower Watson found that 78% of employees are more likely to stay at their current job if they are satisfied with their benefits package.
This all begs the question: what do employees really want out of their benefits? Which options are worth pursuing, and which options are better left off the table? To garner a better understanding of how to evaluate your current plan, utilize the guide below.
The Benefits You Should Forego
At a glance, unlimited vacation days might seem like a highly desirable perk. But studies have found that this type of benefit actually has the opposite effect. The lack of pressure brought on by expiring vacation days often leaves workers feeling as though they can’t justify taking time off, leading to months or even years without a proper break.
Instead, consider implementing limited vacation days, but at a higher maximum number. This will appeal to those seeking extra time off while also encouraging active use of available days.
Companies originally thought that offering perks like catered meals, in-office games, and the ability to bring pets from home would appeal to the younger generations entering the workforce. Unfortunately, this approach usually has an adverse effect. Instead of suggesting that the office is laidback and fun, it usually indicates employees should expect to spend more hours at work than they would at home.
The Benefits You Should Explore
Flexible Work Options
In 2019, 31% of employees worked from some type of home office. This number grew exponentially in 2020 (up to 42% of employed individuals). Although this increase can be attributed primarily due to the COVID-19 pandemic, it is a change that was embraced by many. Remote and flexible work options have long been sought after by workers, whether it is due to a desire to avoid long commutes or increased focus in solitude. Moving forward, it benefits enterprises to consider implementing permanent flexible work options for those that prefer to operate out of a home office.
Health & Wellness Packages
Your employees’ physical and mental health does not just impact their personal life—it also has a direct connection to the quality of work they produce in the office. Furthermore, when your employees have access to benefits that allow them to take care of themselves, the company is more likely to save money on health care costs and employee turnover.
To that end, investing in benefits that provide access to wellness resources is well worth pursuing. More and more companies are doing just that, with 69% of enterprises now offering plans to their employees that prioritize mental, emotional, and physical well-being. Look for plans that provide a holistic range of resources, from sleep support and nutrition counseling to therapy and exercise classes.
If you are ready to invest in health and wellness packages for your employees, consider partnering with Gympass. Our customizable plans offer an impressive range of resources, from physical wellness with exercise classes to mental health programs focused on mindfulness and meditation. Check out some of our leading partners here.