10 effective ways to elevate your employee benefits program

Our employer brand research consistently reveals that employees prioritize benefits and perks over their paychecks. Do job seekers want competitive pay? Absolutely, but they also evaluate the employee benefits on offer.

Beyond the paycheck, the top 10 affordable employee benefits can make a significant difference. So, what affordable benefits can you offer? Here are some employee benefits package ideas suitable for businesses of all sizes.

1. offer flexibility

Our 2024 Workmonitor report highlights that working from home is non-negotiable for close to 4 in 10 workers. Flexible work options are a significant selling point and a universally valued non-monetary perk for many employees. Offer your staff the ability to work from home for a few days a week, enjoy flexible lunch hours, take an extra day off, or set their own work hours rather than sticking to a standard 9-to-5 schedule.

Whether it's a parent juggling daycare arrangements or a young professional aiming to attend an early yoga class after work, a flexible work environment offers valuable benefits. Additionally, it helps reduce the cost of living by minimizing commuting expenses.

2. streamline learning and development

Forward-thinking employees are constantly mapping out their career trajectories. By offering a development program in your benefits plan, you show that your organization is invested in their professional growth.

You can determine the intensity. Consider hosting relaxed monthly lunch-and-learn sessions to foster skill-sharing among employees. Alternatively, you can build a more intensive training program to prepare select employees for leadership roles.

Furthermore, including a training and development plan in your benefits package can greatly improve job satisfaction. If onsite training isn't feasible, consider offering subsidies for off-site educational opportunities.

3. make employee recognition programs part of your DNA

It’s one thing for a manager to appreciate an employee. While, it’s another thing for the organization to recognize a high achiever. Recognition, a valuable non-monetary perk, ensures that top performers feel appreciated and that their significant contributions are celebrated.

It doesn’t have to be time-consuming or elaborate. Have company leaders send out a handwritten note upon reaching a major milestone. And take a moment to highlight individual and team successes during quarterly meetings.

4. include paid time-off

Time off is good for everyone. Giving employees a break allows them to recharge, resulting in highly productive workers who return refreshed and ready to excel.

Boost employee satisfaction by offering more than the mandatory two weeks of paid time off. If you’re a small business and can’t afford extra vacation time, offer early Friday departures or occasional half days as an alternative.

5. plan and organize special events

Fostering a vibrant work culture and boosting employee engagement often starts with team-building events. Amid daily tasks and deadlines, prioritize social connections by scheduling fun, work-hour events.

For instance, you could consider hosting a monthly potluck, catered lunch, or themed day to break away from work routines and foster team bonding. Show appreciation with a small reward, like a gift card, to acknowledge their efforts and promote a positive work environment.

6. personalize rewards

Celebrate achievements with personalized rewards that resonate with the employee's interests and accomplishments. Whether it's a small gesture or a personalized gift, such efforts go a long way in boosting morale and fostering a positive work environment.

For example, movie passes cater to the movie buff, basketball game tickets excite sports fanatics, and new gadgets thrill tech enthusiasts in the office.

Alternatively, choose a gift card for that employee's favorite cafe or restaurant that they go to every day. It’s the thought that counts when rewarding employees.

7. plan outdoor days

Plan time into the work schedule to get out of the office (or wherever your workplace is) and do something outside of regular work commitments. This can mean setting aside time for out-of-office team lunches or hosting a company-wide team-building event.

Consult with employees to plan events they genuinely enjoy. Steer clear of 'mandatory' team-building events that could turn into unwanted obligations for your team.

8. hand out employee awards

Celebrate your top performers with monthly or quarterly awards, like personalized certificates or small trophies, enhancing their sense of accomplishment and pride.

You can make the awards feel even more tangible by handing out a small trophy or personalized certificate. Who doesn’t feel accomplished when they can decorate their desk and show off their award?

If you want to make the awards even more inclusive, make them peer-nominated so that everyone can have a hand in recognizing the contributions of leaders and employees who help out their colleagues or do something extraordinary.

9. offer volunteer opportunities

Include volunteer opportunities and paid time off in your benefits plan. This strategy gives employees a break from their desks and enhances job satisfaction with fulfilling activities.

Of course, there’s also the added health benefits of giving back to the community! Who wouldn’t feel good about that? Additionally, you can even brand volunteer opportunities as part of your corporate social responsibility policy.

10. enable a change of pace for your employees

Promote employee collaboration and deepen employees' understanding of your organization through job swaps. You could even enable employees to shadow their colleagues across departments. This affordable benefit fosters cross-functional understanding and strengthens teamwork.

Beyond financial rewards, employees seek fulfillment in various aspects of their work. Intangible, non-monetary perks and affordable benefits are equally impactful in boosting employee morale.

Regardless of the employee benefit plans or benefits package you choose to offer, ensure that your workplace recognizes hard work and keeps lines of communication open.

Are you seeking a strategy to attract and retain top talent? Connect with our expert consultants and explore the perks job seekers value the most. Our consultants are just a call away to help you strategize the best employee benefits program complementing your current business needs.