“You have to keep evolving; you can’t rest on your laurels and think you’re cutting edge — because it’s most likely you have a 2019 mentality.”
Our Chief People Officer, Karen Fogg, has participated in a number of HR conversations this year (including one where she was honored as an HR Leader of the year 😊), which sparked multiple conversations in our office around how much perks and benefits have evolved in the past couple of years, as driven by the COVID-19 pandemic and shifts in employee expectations.
There have been some obvious changes, like the increase in remote and hybrid work, more flexible hours, and mental health support. Locally, we’ve also seen big shifts in paid leave availability and, for a luckier few, paid preschool. But what else has changed? What’s no longer trendy? We’re looking at you, ping-pong tables and RIP kombucha on tap.
Generally, we’re seeing a broader shift toward a more holistic approach to employee well-being that recognizes the importance of time off, mental health support, and personal development in the workplace.
However, the ethos of the current moment is also one of cost-cutting, and salaries and perks are one of the biggest buckets of expense for most businesses. How do you provide meaningful and inclusive perks that don’t break the bank?
While these are just examples, here are some that we hope spark ideas for creative ways you can show your employees you value them, while still managing costs.
2024 Perks & Benefits that caught our attention:
- Free tax filing
- Sabbatical programs
- Option to cash out PTO (limited)
- Wellbeing time off (20+ hours)
- Floating holidays
- Tuition reimbursement
- Meditation & yoga onsite
- Generous PTO (20+ days/year)
- Hybrid schedules (ie. 3 days in, 2 days remote or 4 days in, 1 day remote)
- Home office stipend
- Charitable donation match
- Cell phone service reimbursement stipend (for when everyone’s working on the go 🤳)
- Early Fridays (office closes at 2pm)
- Summer Fridays (on a rotating basis, if full coverage is needed)
- Work from anywhere for one week (every six months)
- Office closed between Christmas & New Year’s (or a remote option during that window)
- Paid volunteer time
- Pet insurance
- Medical clinic onsite
- Financial literacy training
- Health info sessions onsite (on mental health, menopause, stress reduction – your health insurance plan may already offer this!)
- Hood to Coast team sponsorship
- Kickball & softball teams (or any intramural sport)
No company can offer every perk, so it’s important for companies to talk to their employees and listen to the perks that will benefit and excite them the most. And it’s equally important for companies to make the effort to continually improve, as the market will only get more competitive.
Companies that want to thrive and grow must be intentional about their offerings.
P.S. You can catch Karen sharing more Secrets of the Healthiest Employers & HR Leaders here (no paywall)!
