Employee retention is a top priority for any company. Not only does it save time and money when employees stay in their jobs, but it also boosts morale and productivity. Unfortunately, traditional benefits such as health insurance and vacation days no longer cut it. To retain employees, you need to offer something extra. Here are six unique benefits that will help with that.
Flexible Scheduling
This is one of the most popular benefits amongst millennials who want the freedom to work when they want to. This means allowing employees to work from home, part-time hours, or flexible shifts.
This scheduling allows employees to work when they’re at their peak productivity. It also allows them to manage personal commitments such as doctor’s appointments or family time. Furthermore, it gives them the opportunity to pursue their passions, such as taking classes or learning new skills.
Keep in mind that this can benefit both employers and employees. This is because the company will still get its desired output while employees have more control over their daily lives.
Professional Development Opportunities
Employees don’t just want a job and a paycheck. They also want a career path with opportunities for growth and development. And this is where professional development opportunities come in handy.
Consider offering development programs in your company. These can be online courses or mentoring sessions that help your team stay sharp and engaged. Other options include sending employees to conferences or giving them access to industry-related books, magazines, and articles.
This way, you’re showing your team that they matter and that the company is investing in their future. It will also help them stay motivated and engaged in their job.
Student Loan Repayment
The cost of college is rising faster than wages. So, this leaves many recent graduates with a hefty amount of student debt.
Offer a program to help employees pay back their loans. Doing so will make them more likely to stick around for the long term instead of searching for employment elsewhere. Try offering a set amount or matching their payments to a certain percentage. You can also provide this benefit in addition to other more traditional offers.
This is an attractive perk that many employees will appreciate — especially millennials who are weighed down by student debt.
Orthodontic Care
Having orthodontic care covered by an employer is a surprisingly uncommon benefit. Still, it can make a big difference in employee morale. Therefore, consider looking into orthodontics and its benefits for your staff.
Offering them the ability to get braces or Invisalign through your healthcare plan will give them self-confidence and help with productivity. For instance, orthodontic treatment can improve physical health, reduce stress, and make employees feel more secure about their appearance.
Moreover, this benefit helps you stand out from other companies. It shows that you care about your team’s well-being, which can lead to increased employee retention rates.
Childcare Subsidies
Having children is expensive. So offering financial assistance for childcare can make a huge difference. Also, this is especially beneficial for working parents trying to juggle their family life and careers simultaneously.
Offer a set amount for childcare costs, or subsidize the cost of daycare. You can also offer discounts to employees who use certain childcare services or centers.
By doing this, you’re giving your employees the support they need to balance their lives. They will know that their children are taken care of and that they don’t have to worry about paying for expensive childcare costs.
Volunteer Opportunities
Volunteerism has been linked to increased employee engagement and loyalty. So why not offer your team volunteer opportunities? After all, It’s an easy way to give back to the community. It also boosts morale within your company.
You can offer various programs, such as paid volunteering days, to your team. Employees can choose which program to participate in and how long they want to volunteer. Moreover, you can offer bonuses or incentives for those participating in the program. Doing so will make it more attractive and encourage your team to get involved.
Offering such opportunities will show your team that you care about them and their passions outside of work. This is a great way to build relationships with other businesses and organizations in the community. Plus, many volunteer programs also offer tax incentives for companies frequently involved in local causes.
For some companies, offering unique benefits like flexible scheduling or volunteer opportunities may seem out of reach. However, plenty of options, regardless of budget size or industry type, can help boost employee retention rates. You can also show your team how much they mean to you! Investing in your team’s well-being is essential to running a successful business, so consider these six uncommon benefits today!
