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5 Unusual Workplace Benefits That You Did Not Know Existed

November 1, 2016 By Katia Myroniuk 13 Comments

5 Unusual Workplace Benefits That You Did Not Know Existed
Photo by Nick Karvounis

It is typical for companies to offer a 401k plan or health insurance as part of the employee benefit package. However, there are many other perks and benefits that employees would love to have as well, all of which are very inexpensive for a company to adopt.

For instance, an employee under the age of 35 would rather have free lunch in the office each week as opposed to a pay raise. What other alternative benefits can employers use to retain their best talent?

Table of Contents

  • 1. A Flexible Schedule Helps Employees with Work/Life Balance
  • 2. Help Employees with Student Loan Debt
  • 3. Let Your People Be Themselves
  • 4. Allow Your Employees to Develop and Advance
  • 5. Let Your Employees Literally Take Ownership of Their Work
    • Katia Myroniuk
    • Latest posts by Katia Myroniuk (see all)

1. A Flexible Schedule Helps Employees with Work/Life Balance

Consider allowing flextime. For example, an employee could come in at noon and work eight hours, as opposed to having to show up first thing in the morning. This strategy might be better for those who enjoy staying up late at night.

Another option is that it might be better for parents to have Wednesday and Friday off instead of the weekend. That way they can be available to their children during the week. Assuming employees can get their work done and meet customer needs, offering a flexible schedule can be an easy way to win worker loyalty without sacrificing the bottom line.

2. Help Employees with Student Loan Debt

When recent college grads get their first jobs, they do so with thousands of dollars in student loan debt. This debt might make it harder to buy a house, start a family or even keep up with basic living expenses.

You can provide several hundred dollars a month or year to help with student loan payments, instead of the standard 3-5% raise. This tactic can go a long way toward improving morale and increasing employee loyalty toward the company.

3. Let Your People Be Themselves

Another easy way to offer perks to your employees without having to spend a lot of money is to allow them to dress casually at the office. You also might want to consider letting your employees work from home, either for part of the week or as standard company policy.

The freedom to work from home benefits employees because they don’t have to be stressed about their morning commutes. They also don’t have to spend a lot of money on gas or work clothes. This option benefits employers as well because they won’t need large office buildings and the associated costs that come with them.

4. Allow Your Employees to Develop and Advance

Your employees want to learn and grow on the job. Having a boss that takes an interest in what they do and prepares them for greater success is among the top perks younger workers want in lieu of a larger salary.

Therefore, business owners should invest in employee development if they want to keep salaries in check and invest in their futures at the same time. Short classes covering useful training over a one-month period are helpful. You can also offer optional classes after work for an hour or two. Both options could go a long way toward retaining your employees.

5. Let Your Employees Literally Take Ownership of Their Work

Offering stock options or even small profit sharing motivates employees to work harder and smarter for the company. If your employees do a good job building relationships with customers and otherwise keeping costs in check, they might directly benefit through an ownership interest that grows in value.

If you want to keep your employees, there are plenty of creative workplace benefits you can offer them. Stock options, development programs, and helping with student loan debt are prized perks that employees might desire instead of a larger salary. Therefore, these items are worth looking into if you don’t want to increase salaries or are looking for a less expensive perk than the standard round of raises.

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Katia Myroniuk

Katia Myroniuk creates content for Payroll Express, an Idaho based company offering payroll services. They have offered payroll services in Boise for smaller businesses for over 15 years.
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Filed Under: Small Business Advice Tagged With: employee loyalty, life balance, management, management tips

Comments

  1. rubel chy says

    November 9, 2016 at 9:24 am

    Hi Katia,
    Your 5 Unusual Workplace Benefits is really helpful for employer.
    If a company boss provide this kind of benefits to their employer ,The employer must be obedient for his/her work and they fill comfortable to the work.
    Thanks a lot for sharing with us .

    Reply
  2. Mark says

    November 6, 2016 at 7:58 am

    These are five excellent alternative benefits for sure Katia!

    And they are extremely practical too!And they are diversified enough,
    that practically any business owner, service provider and or startup
    entrepreneur, can customize any one of them, to better serve their
    employees and or associates etc.

    Thank you so much, for bringing these extremely
    viable options to our attention.

    I definitely plan on linking to your excellent material, in a future blog post!
    Mark would love you to read ..Being An Entrepreneur :Means Understanding How To Dramatically Add Value!My Profile

    Reply
  3. Abhimanyu says

    November 4, 2016 at 3:32 am

    The conversation that grows with the workplace is highly efficient and can change the environment. Also, the sense of competition also encourages efficient work among employees.

    Regards

    Abhimanyu

    Reply
  4. Kylie says

    November 3, 2016 at 10:25 am

    Allowing your employees to thrive in a creative work zone will create a positive atmosphere in your business.
    Kylie would love you to read ..WelcomeMy Profile

    Reply
  5. Dhaval Parmar says

    November 3, 2016 at 3:10 am

    I Agree With This Point ,”Offering stock options or even small profit sharing motivates employees to work harder and smarter for the company. If your employees do a good job building relationships with customers and otherwise keeping costs in check, they might directly benefit through an ownership interest that grows in value.”

    Thank you

    Reply
  6. Ravi Chahar says

    November 2, 2016 at 11:43 pm

    Hey Katia,

    People want to work in a place where they can be free. No one wants a work place with the burden and pressure. A company should always help their employees with their money problems.

    A good amount money as a loan would be perfect. You have mentioned some great points here.
    Thanks for sharing with us.

    ~Ravi
    Ravi Chahar would love you to read ..Everyone Feels Special With Memorable Customer Service Experience?My Profile

    Reply
  7. Muller says

    November 2, 2016 at 10:41 pm

    A flexible work time is a win win. AAs it has been reported to only increase the efficiency of the output. And more and more companies are nowadays adapting to this model. As many researchers and surveys have found that, there is no collective time when a person can be active. it all depends on the individual tuning. So it only makes sense to work in a work environment where they allow you to be really flexible with the hours you put in.
    Muller would love you to read ..Alternatives to SEO Powersuite You Need To Try Right NowMy Profile

    Reply
  8. Leila Steward says

    November 2, 2016 at 8:40 am

    Every employer must provide competitive workplace benefits, so that they can pay back the employees for the job well done. Also for the employees to be competitive enough because they feel they are been taken care of the the employer and the company.

    Reply
  9. Harrison Raynolds says

    November 2, 2016 at 8:07 am

    It seems good knowledge you provided.I really liked it the most.I believe that this knowledge will really helpful to each reader and user.Thanks

    Reply
  10. Steve Dash says

    November 2, 2016 at 7:36 am

    The conversation that grows with the workplace is highly efficient and can change the environment. Also, the sense of competition also encourages efficient work among employees.
    Steve Dash would love you to read ..Pinky Rings for Men – What, How and Best Options to choose from!My Profile

    Reply
  11. kalpana says

    November 2, 2016 at 6:39 am

    there are few thing that companies cant compromise one is timing and other is dress code…but ways are good way to adopt to build good relationship with employees.

    Reply
    • Gail Gardner says

      November 3, 2016 at 3:49 pm

      Hi Kalpana,

      Actually, many companies can become more flexible on what hours people work and how they dress. Some need to keep strict schedules – but not all. I found that a clear dress code is better than harassing employees for not conforming without them knowing specifically what you want.
      Gail Gardner would love you to read ..5 Unusual Workplace Benefits That You Did Not Know ExistedMy Profile

      Reply
  12. Azeem says

    November 2, 2016 at 6:06 am

    But One way is by offering a good benefits package the law requires employers to provide employees with certain benefits that’s because key benefits such as health insurance and retirement plans fall under … plan. Examples range from exclusions of part-timers to failing to extend benefits to clerical and custodial staff.
    Very Informative Post Thanks For Sharing For More Clear detail
    Azeem would love you to read ..Mesothelioma LawyersMy Profile

    Reply

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