9 Unique Company Benefits that Employees Love
From 4-day workweeks to Nintendo game rooms to pet insurance, companies are getting more creative with their benefits offerings. We asked small-business owners what the real game-changers were for their employees and found some unusual answers.
In addition to standard medical and PTO packages, here are nine company benefits that employees love.
1. Self-care reimbursements
Our self-care budget has been a game-changer for RevenueZen. We give $50/month reimbursements to employees to use for anything. It's a way to encourage hobbies outside of work (such as experimenting with sewing or learning to make candles), or you can use it for general wellness (like skincare!). It's a really inexpensive benefit that makes employees so happy, and it's been a total game-changer for us.
-Jake Moffet, RevenueZen
2. Pet insurance
Pets are a popular choice for younger people who want to have families later in life and for empty-nesters who want to fill a hole after their children have moved out. Anyone who has ever owned a pet is aware of the high cost of veterinary care. The ability to obtain pet insurance is a huge plus.
-Chris Niddle, ClothingRIC
3. Student loan repayment
Under Section 127 of the Internal Revenue Code, employers are allowed to contribute up to $5,250 per employee per year for eligible education expenses, including student loan assistance. This allows us to pay up to $5,250 towards an employee's loans without the employee having to recognize that amount as income. In our program, employees become eligible for this benefit after 6 months, and benefits are paid semi-annually.
Many new grads feel buried financially by their student loans, so having the opportunity for their employer to pay north of $5,000 per year towards their loans is huge. In fact, in talking with a number of our younger employees with student loans, this benefit is more meaningful to them than their health benefits.
-John Ross, Test Prep Insight
4. Home office stipend
Starting with high-quality furniture, a comfy office chair, and all the gadgets they'll need to be productive. Although this can be a significant expense for your employees, you can help them in creating their ideal workspace.
-Gerrid Smith, Joy Organics
5. Paid parental leave
6. Retirement match
As complete pensions become increasingly rare in the global workforce, more employees are faced with the prospect of having to fund their own retirement. A tax-advantaged 401(k) plan can be a great method to encourage employees to save for retirement. Offering to match employee contributions up to a specific level can also motivate them to stay with your company.
-Dusan Stanar, VSS Monitoring
7. Transportation and parking
This benefit can result in significant transportation cost reductions, particularly in metropolitan locations where parking is limited and hence more expensive. Some companies will pay for a monthly subway card, while others may offer free parking. The best solution for you is determined by your location and the needs of your employees.
-Adam Wood, RevenueGeeks
Sage HR offers an intuitive interface that visualizes employee schedules.
- Easily receive employee requests
- View schedules across numerous timeframes
- One-click time-off approval and easy schedule templates
8. Secondary insurance plan
Our Secondary Insurance Plan pays the out-of-pocket deductible expenses the employee incurs. Our employee essentially hands the provider a second card which acts like a credit card and pays the provider directly up to $10,000.
-John Millen, Millen Group
9. Unlimited paid sick days
We trust that our employees will use their sick days appropriately to heal and we will never penalize someone for prioritizing their health. This policy means no one is working when they don’t feel well, and they’re always able to produce their best work.
-Sara Bandurian, Online Optimism