In an increasingly competitive job market, a crucial component of a company’s recruitment efforts is the benefits offered to both prospective and current employees. Rather than sticking to the same-old perks that have become standard across many industries, offering unique company perks can help businesses capture the attention of promising candidates while also retaining their current workforce.
With so many available options, business leaders can easily become overwhelmed when deciding which perks will best appeal to top talent. To help narrow down the selection, 19 Forbes Business Council members each share one perk a company should consider offering in order to retain current employees and attract new ones.
1. A Positive Work Culture
As a leader, you should focus all your actions on fostering a positive culture to actively attract and retain talent. Begin by understanding how you are attempting to attract and retain talent. Discover what potential and current employees truly appreciate and value in their work environment. By obtaining these insights, you can develop effective tools and strategies tailored to meet their specific needs. – Francisco Ramirez, The ACE Group (TAG)
2. Customizable Benefit Packages
Consider offering perk packages that employees can build to fit their needs. By allowing employees to tailor perks to their needs, they will likely be more happy. In the case of perks that apply to all employees, nothing seems to top the following two: covered monthly insurance premiums and company equity. Ultimately, ask employees what they want. – Ty Allen, SocialClimb
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3. Proper Healthcare Options
In the U.S. especially, the healthcare system is so broken that entire lives can be destroyed when a person or their family member gets sick or injured. Providing employees with proper physical and mental healthcare coverage options is one of the most effective ways to attract and retain talent that will contribute to the success of a company. – Ori Carmel, Sowen
4. Mental Health Resources
Today’s workforce is increasingly paying attention to their mental health needs and whether their company shares the same value in prioritizing employees’ mental health benefits. Consider adding mental health resources and an employee assistance program to showcase your company’s humanistic values and prevent worker burnout. – Dana Wang, RIVIA Mind
5. Personal Training Sessions
I’d like to share our experience with offering personal trainers. Health and well-being are the most crucial things when it comes to the performance of our team. Our company offers free personal training sessions at the most innovative gyms in Amsterdam. – Baris Kavakli, Portera BV
6. Flexibility And Autonomy
One perk, and honestly this should be table stakes and not a perk, is flexibility and autonomy. Allowing employees more control over their work hours and location can greatly enhance work-life balance and job satisfaction. This will demonstrate trust in employees and recognize their needs, increasing retention and the attraction of top talent who value flexibility and autonomy. – Anne Bibb, Remote Evolution™
7. One-On-One Attention
Maya Angelou once stated, “I’ve learned that people will forget what you said, people will forget what you did, but people will never forget how you made them feel.” When we are able to make time to meet one-on-one and talk to the folks who work for us and those whom we potentially want to work for, I believe giving your time shows an investment in them. Your presence is invaluable. – Aaron Skinner-Spain, NYC Affirmative Psychotherapy LCSW PLLC
8. Professional Development Opportunities
Investing in training, education and upskilling opportunities is a huge win-win for talented team members and businesses alike. Your best team members will embrace learning and want to better themselves. If you show a willingness to invest in them, they’ll repay you tenfold by using what they’ve learned to make your business stronger. Leadership training especially is always valuable. – Tara May, Aspiritech
9. Employee Loyalty Programs
I recommend employee loyalty programs. For example, you can offer a two-wheeler upon employees completing one year, a four-wheeler upon them completing three years and a foreign trip upon the completion of five years with a maximum budget cap. – Raj Maddula, Global Squirrels
10. Stock Shares
Make your employees your business partners by giving them shares in the company. Engage them in key strategic decision making by fostering a culture of transparency and empowerment. Also, help your employees find their life purpose, as this is one of the most beautiful gifts you can offer them so that they can find more fulfillment. Then allow them to live that purpose through their work on a daily basis. – Andreea Vanacker, SPARKX5
11. Bonuses
Something that has worked for us is making our employees feel like they are part of the company. Give bonuses depending on the company’s profits combined with the achievement of company goals. – Pedro Barboglio, Remote Team Solutions
12. Work-Life Balance
Because of quiet quitting, I believe the perk you should offer is work-life balance. You can do this by providing flexible working options such as remote or hybrid work, paid time off, employee assistance programs, continuing professional development opportunities and wellness programs. – Pavel Stepanov, Virtudesk
13. A Flexible Work Environment
One perk that can make a significant impact is providing a flexible work environment. Offering options like flexible work hours, remote work opportunities or compressed workweeks can empower employees to achieve better work-life balance. Flexibility will not only help retain current employees, but also attract new talent, as it shows a commitment to supporting their well-being and individual needs. – Stephen Sokoler, Journey
14. Outings And Travel
Experiences outlive gifts in people’s minds, so offering outings and travel on a served time or reward-based mechanism is good. Simply put, everyone likes to go on vacation, even people on the road 24/7. Given the unique nature of these perks, employees will likely feel grateful that the company is recognizing their hard work and will let their network know. – Anna Stella, BBSA
15. Employee-Centered Vacation Policies
One perk we have used to retain our top talent is paid time off with a flexible vacation policy. Our employees need time off to break up their daily work routines and spend quality time with family and friends without worrying about money or time. We believe offering paid time off within a robust employee-centered vacation policy plays a big part in achieving those goals. – Erik Pham, Health Canal
16. A Comprehensive Wellness Program
One perk businesses should consider to attract and retain talent is a comprehensive wellness program. This perk focuses on the well-being of employees and demonstrates a commitment to their physical, mental and emotional health. A strong emphasis on the human element through a wellness program fosters a positive work environment, boosts morale, increases productivity and helps attract and retain top talent. – Neena Pandey, The String Code
17. A Hybrid Work Model
The concept of a hybrid model of work is a great perk that not only helps businesses retain existing talent, but also even attract new talent. Demand is growing, and companies need to realize that the hybrid model of work is the future. – Ravindr Singh, Codleo Consulting
18. Equity
At Project 10K, we recognize the value of true ownership and investment in the success of our portfolio companies. To ensure that our employees are fully aligned with the mission and invested in the growth of each company, we offer an equity pool in each company they work on that rewards key team members for their contributions and commitment. – Jared Yellin, Project 10K
19. A Community
A major perk that a business can offer is helping employees feel a sense of belonging to a meaningful community. Even with remote work, we all want to feel like we’re part of something bigger than ourselves. While a work community won’t replace a family, making sure that all employees have a sense of belonging will make a huge (and positive) difference in retention. – Catherine Wehlburg, Athens State University
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