We’ve been talking a lot about the major challenges employers are facing right now, with many reputable companies experiencing large ebbs in their workforce. Let’s continue the conversation on how to boost loyalty among your top team members.
In addition to offering growth and education opportunities, creating a benefits package that increases an employee’s quality of life and aligns with their values is an effective way to retain them. This helps illustrate just how much you value their contributions, not only as an employee but as a person.
While benefits such as health insurance, retirement and paid time off are undoubtedly important, these are no longer a nice-to-have, especially in the technology industry. To gain an edge and retain your top talent, it’s important to think outside the box when it comes to job perks.
Pet insurance: It’s no secret that pets have become the center of many households, and pet insurance is an innovative way to welcome these family members along with their owners. Pet emergencies can quickly change someone’s financial situation and offering insurance to protect four-legged family members can give your team members peace of mind.
Paid volunteer hours: Giving employees a set amount of annual hours to volunteer with a nonprofit of their choice not only benefits the community you serve and work in but has the added benefit of attracting candidates with a charitable mindset.
Caregiver support: With the boomer generation exiting the workforce in large numbers, Generation X-ers and millennials are quickly replacing them and with this brings many family caregivers. Offering support, such as flexible hours to care for a loved one or paid leave can ease the burden of balancing caregiving and work.
Wellness perks: Alternatives to western medicine such as acupuncture, herbal medicine, yoga and massages have gained significant popularity in recent years as a way to combat stress and health issues, and many spend large amounts of money out of pocket on them. This could be especially attractive in technology industries to avoid repetitive-strain injuries that are becoming increasingly more common.
Floating birthdays: Encouraging team members to take a day off to celebrate their birthday takes any discomfort that comes from requiring them to ask permission to take the day off and also drives home the idea that your company encourages a work-life balance.
Arts and culture: Partnering with local entertainment organizations to provide employees with annual or discounted memberships is a fun way to support local arts and culture while giving employees an easy and affordable way to have a good time outside the office.
Literacy promotion: Your employees may read a lot during work, but encouraging their literary passions outside the workplace with perks like free books, a digital library and book clubs during work hours can keep them mentally stimulated and connected to other team members.
Creative bonuses: When your team wins, so do you, and there is no better way to say “thanks” than to extend a bonus to show your gratitude. While money is great, bonus programs such as travel incentives can have the added benefit of giving an employee well-deserved time off.
While all of these ideas are sure to appeal to new candidates and keep current talent excited about your company, it’s just the tip of the iceberg. Think about the type of employee you want to attract to your company, and how they spend their time off the clock. Designing a benefits package around these passions outside the workplace will keep them satisfied and productive during the work week.
If you’re struggling to retain top talent, our team is here to help. We would love to share what top technology companies are doing to successfully retain their best talent in today’s job market. Contact us today.