Employees have come to expect company perks such as 401(k)s, paid vacation time, and free coffee. But these benefits are becoming the norm, and high quality candidates in this job seeker’s market are raising their expectations when considering working for a company. As a result, workplace perks have become much more creative.
Indeed, businesses realize that if they want to attract — and keep — the best employees, they have to offer benefits that improve workers’ lives and set their company apart from the competition. Perks including free beer onsite, spa services, and even all-expense-paid international company retreats have become the new normal.
These big-ticket items may seem like a large expense, but many companies view them as a better long-term financial strategy than constantly spending money to recruit replacements for employees who leave for greener pastures. The current job-hopping culture costs the U.S. economy $30.5 billion per year, and companies spend an average $4,100 per new hire in training. Happy employees like to stay with companies longer, and the investment pays off: Most of them are more productive – 20 percent more, in fact.
“A lot of companies believe they won’t attract the best employees with just standard benefits packages and perks like free coffee,” says Eric Noe, Editor-in-Chief, Fit Small Business. “To stay competitive, they’re offering creative perks employees can use right now — from simple fun things like time off for new pet owners, to bigger picture benefits that support health and wellness. They figure spending extra on these up-front perks will save them money by keeping staff happy and reducing turnover.”
To get a better view of the coolest perks being offered in workplaces across the country, FitSmallBusiness.com assessed data from a variety of sources such as Glassdoor and Angel.co, and created a list of the perks that are growing in popularity.
15 Coolest Company Perks For 2019
- Pawternity: time off to welcome a new pet into the family
- Egg freezing and fertility treatments
- Life coaching and counseling services
- International retreats
- Free beer on-site
- Spa and wellness services
- Nap rooms
- Elder care: assistance with aging parents
- Required time off
- Service sabbatical
- Pet bereavement policies
- Farmers’ markets at the office
- Weather-based flextime
- Wedding leave
- Pet health insurance