In the current job market, employers are not the only ones doing the interviewing. While employers vet candidates to ensure that they fit the company culture, values, experience and background, todays workforce is also doing their own interviewing. When candidates apply to positions, they’re seeking out employers that can offer them not just meaningful work, a wage and health insurance, but also other benefits that will make their work experience and lives more positive, more productive and more manageable.
Building the Best Benefits for Your Team
But with so many different options, how does HR know what to include in their benefits package? Of course, there is no one-size fits all strategy. Every employee population is different, with differing wants and needs when it comes to what is important to them. When choosing which benefits to provide to employees, it’s not just about serving up opportunities just to say your company offers them. Taking the time to research the current employee demographic and get a pulse on what is important to them will be time and effort well spent. After all, why pay for a benefit that no one is using? By digging a little deeper into your employee demographic, surveying them, holding focus groups and really listening for feedback, HR can piece together a meaningful benefits package that attracts new talent, retains current talent and encourages and allows employees to be their best selves in the workplace.
Evaluating Your Benefits Options
For employees looking to start a family, now or later, consider fertility benefits:
Carrot– Carrot helps employees navigate the confusion of the fertility space. From IVF, to egg freezing and surrogacy, it’s a place to learn about different treatments and figure out the right path to take. It is inclusive, meaning it’s not just for women. The benefit is available to spouses and same sex couples. Through Carrot, treatment does not require an infertility diagnosis.
For new moms, a benefit to help retain breastfeeding mothers:
MilkStork– Do you have employees that travel a lot on business trips? Milk Stork helps traveling mothers maintain their commitment to breastfeed by providing them with everything they need to ship their breast milk home quickly and safely.
For your employees who are also caregivers:
Apiari– Family responsibility is among one of the major sources of stress for US adults. Workplaces are becoming more family friendly and understanding that “life happens”. Without a healthy work/life balance, stress can seep into the workplace and if left unaddressed, the build-up ultimately leads to burnout. Apiari is an inclusive benefit for all employees, regardless of age, gender or what stage of life they’re in. From child care, to elder care to help around the house, Apiari has something for everyone.
Helpr– Empower hard-working parents to balance their professional growth with raising a healthy family, leading to increased retention, increased recruitment of millennials and reduced absenteeism.
Wellthy– “3/4 of U.S. workers face some caregiving responsibility. 32% of caregivers have left a job because they couldn’t balance work and family duties and 80% say their responsibilities at home keep them from doing their best at work” (Harvard Business School, “ The Caring Company”, 2019). Wellthy is a care concierge providing support and relief to families with complex care. For families who have a parent with dementia, child with autism, or a spouse with cancer, Wellthy handles the administrative and logistical tasks and helps to find and vet the right in-home aide, manage a move into a facility, contest and negotiate insurance bills, and more.
For employees who want an easier way to stay physically active:
GymPass: Get your employees healthier by helping them find a physical activity they actually enjoy with GymPass, the gym membership benefit that allows employees to try different workout facilities under one chosen membership. From yoga, to cycling, to boxing to bootcamps, Gympass has an activity for everyone regardless of fitness level or experience. A great option for companies with offices both all over the U.S and around the world.
BurnAlong– A great wellness solution for companies with several offices around the nation or globe, BurnAlong creates a sense of community for your workforce by helping your employees (and their family members!) achieve their health and wellness goals through personalized online video classes and programming (1,000+ classes across 30+ categories) and social motivation, all supported by human & machine guidance.
For employees who have student debt, or will have to pay for college at some point:
CommonBond– 72% of people say student loan benefits would increase commitment to their employer and 78% with student debt would accept a job if the company offered student loan benefits. CommonBond helps employees reach financial freedom by offering customizable student loan benefits to support your employees’ ability to pay for school for themselves or their family.
For employees in need of mental wellbeing and emotional support:
Talkspace– 20% of your employees are experiencing a mental health challenge and 25% of them are not telling you they’re struggling. Talkspace is a secure, confidential and clinically-proven online therapy platform allowing any employee, anywhere to get the therapy they want and need without traveling to an office – and for significantly less money than traditional therapy so that they can manage their emotional wellbeing, and show up as their best to work every day.
For employees who want and need career coaching:
Bravely– In support of workplace health, Bravely connects employees with professional coaches for confidential conversations in the moments they need it most—and helping HR teams improve engagement and retention. From workplace relationships, uncertainty around role, role performance to general stress, Bravely coaches can elevate your employees performance.
For companies looking for a tool to understand how to help keep employees happy, engaged, and on your side:
TINYpulse– Measure how happy, frustrated, or burnt-out your employees are, and gain real time employee feedback to create a company culture you can be proud of.
Deciding what benefits to offer employees requires time, and effort, but the return on investment is much greater in the end. These benefits can not only reduce health care claims and costs, but can also boost productivity, reduce absenteeism and improve employee satisfaction and company loyalty.