What Are Some Unique Job Benefits?
According to ManpowerGroup’s 2024 Global Talent Shortage report, 70% of employers in the US report difficulty in filling roles. Because of this difficulty, many companies are looking to reassess how they offer benefits as well as what new non-traditional employee benefit they can offer with the understanding that benefits can be a useful way to attract, retain, and motivate top talent.
Given the importance of employee benefits, it can be helpful to explore some options, including unique employee benefits, for companies to offer their team.
What are the top 5 types of employee benefits?
Among the many options available, many companies offer a mix of different types of benefits. Five of the top benefits are:
Health and wellness benefits. These benefits often include health insurance coverage for medical, dental, and vision care, as well as gym memberships or mental health resources. They can be highly valued by employees because they can help manage healthcare expenses for both individuals and their families.
Retirement benefits. Retirement plans, including 401(k)s, enable employees to save funds for the future. Employers may add to these savings by offering matching contributions, encouraging employees to build a solid financial foundation for retirement.
Paid Time Off (PTO). PTO encompasses vacation days, sick leave, personal days, and holidays. It provides employees with the opportunity to rest, recover, or address personal matters without sacrificing their income.
Life and disability insurance. Life insurance supports an employee's family financially in the event of their death. Meanwhile, short- and long-term disability insurance offers income support if an employee is unable to work due to illness or injury.
Education benefits. This kind of benefit includes employers providing access to learning and development opportunities, often with some financial resources like tuition assistance. Efforts like these are growing in popularity: according to LinkedIn’s 2024 Workplace Learning Report, 9 out of 10 global executives plan to either increase or keep steady their investment in L&D this year, including upskilling and reskilling.
What unique benefits could an organization offer to their employees?
Apart from the benefits listed above, there are also 4 types of benefits that should be considered when strategizing an effective benefits package.
Flexible work arrangements. Whether it’s working from home or a hybrid model where workers are home part time and in-office part time, many workers appreciate the ability to have more control over their work weeks.
On-site facilities. From access to workout facilities and on-site childcare to company-owned cafeterias with complimentary meals, employees often enjoy having amenities available nearby.
Training and upskilling programs. These types of benefits can be particularly helpful for employers, as a recent survey 2024 Consumer Survey by Strategic Education, Inc. found that 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.
Financial wellness classes. These classes can be helpful for employees as they can help build skills to manage finances better.
What benefits do employees value most?
Employers should focus on offering benefits that employees value the most, asking themselves “what is a good benefits package?”
Health insurance often tops this list, as it’s an essential benefit commonly obtained through one’s employment. Education benefits are also highly appreciated, as they enable employees to grow their skills and potential enhance their career prospects.
Retirement savings plans can contribute to employees' financial security, while PTO allows them to prioritize their health, well-being, and leisure. Meanwhile, life insurance provides peace of mind by ensuring financial stability for their family members, and flexible remote work options empower employees to manage their time and productivity.
Which employee benefits are best?
Providing benefits can be a way to support a satisfying work-life balance for your team.
If you’d like to revamp your education benefits program specifically, schedule a consultation with Workforce Edge specialists to get started.
Companies with the best benefits 2024 and beyond may be able to use those benefits to engage with their workforce in effective ways. It all starts with thinking creatively about what they offer their employees. Beyond traditional benefits like health insurance, paid time off, and retirement savings, there are many non-traditional employee benefits that employers can provide for their team—and unique employee benefits can provide new ways for HR professionals to approach.
