What Are Some Creative Benefits?
Companies have many options to choose from when offering benefits to their employees. Health insurance, life insurance, paid time off, access to retirement savings accounts, and more can all be compelling reasons to apply to or remain in a role at your organization. Additionally, non-traditional employee benefits should be considered.
For companies that want to appeal to a broader group of candidates, it can be helpful to think outside the box and ask “what are some creative benefits examples?” when configuring their approach. In other words, what are some unique employee benefits that will appeal to your organization’s employees?
What benefits do most small businesses offer?
Often, small businesses offer the same kinds of benefits that larger companies provide for their employees. Among the 5 types of employee benefits that many offer are:
Health insurance and other wellness benefits. Health insurance can cover medical costs while wellness programs are designed to round out other areas of support, such as fitness (via gym memberships) or resources to support employees’ mental health.
Retirement savings. 401(k)s and other types of accounts allow employees to plan ahead for their financial future.
Paid time off (PTO). PTO is an all-encompassing benefit that can be used to cover sick leave, vacations, personal days, and holidays.
Education benefits. These are designed to support employees’ ambitions and grow their capabilities, which can ultimately help the business reach its goals. They can also encourage a sense of satisfaction: according to LinkedIn’s 2024 Workplace Learning Report, 8 in 10 people say learning adds purpose to their work.
Flexible working options. Many workers prefer the flexibility of working from home or having the choice to come into the office part time. This benefit can also include flexible hours, helping employees balance their personal and work lives.
What benefits do employees value most?
When evaluating the benefits options offered to their team, employers should prioritize those that are the most valued by employees. Health insurance is often very sought after. Education benefits can also be significant because they can pave the way for expanded skills, capabilities, and career prospects.
Similarly, retirement savings plans provide financial security while PTO allows employees the ability to prioritize their health, well-being, and ability to recharge. Life insurance can contribute to a sense of financial stability. But regardless of what benefits an employer offers, it’s important to periodically explore how benefits can be more effective and ask “what are some creative benefits for employees?” at each step of the evaluation process.
How to make employee benefits fun
Benefits can be approached with a sense of fun. For example, benefit fairs can be internal events with food, beverages, and games—all offered to get employees excited about exploring their options, which can be discussed during the fair.
Companies can also offer recognition and awards to their employees that celebrate their achievements. This kind of benefit can be particularly fun if team members get involved. For example, nominating and voting for coworkers who went above and beyond can help show that people’s contributions are valued by both peers and leadership.
What company has the best employee benefits?
The best employee benefits are the ones that are the most in sync with the needs and interests of the workers taking advantage of them. Whether it’s health and life insurance, PTO, retirement savings plans, or others, companies should survey their teams to see what’s working and what might be improved. It’s also helpful to look at some examples of innovative benefit practices to get an overall sense of what other organizations are offering. These can include:
Upskilling opportunities. Modern employees are often interested in growing their skills. According to the recent 2024 Consumer Survey by Strategic Education, Inc., nearly 74% of full-time employees in the U.S. who say their employers do not provide upskilling opportunities also say they would pursue them if provided.
Travel for professional development. Employees often seek the ability to network with others and gain valuable insights into their own industries. This can be accomplished by attending conferences, symposiums, and other professional gatherings.
Flexible time off. Some companies offer their employees flexible time off. Unlike PTO, this type of benefit is unlimited and to be used at the employee’s and their manager’s discretion. This can be an attractive benefit, as it allows employees to take time off when they need it and manage their own schedule.
When you provide your team with creative employee benefits, you’re showing that you support their well-being and interests. To explore creating, revising, or expanding your education benefits program, schedule a consultation to connect with Workforce Edge team and get started.
Employee benefits can provide support for employees’ health, goals, and overall happiness. They can be part of a job candidate’s decision to apply to a company, or they can help an employee want to remain at their organization. In other words, benefits can be part of a company’s recruitment and retention efforts, and this includes non-traditional employee benefits.
