Top 5 Innovative Employee Benefits Trends
A generous benefits package is a great way to show employees that you value their well-being. In Chicago, IL, some companies go the extra mile to attract and retain top talent by providing enticing perks. These include paid holidays and sick days, health insurance with vision and dental coverage, tuition reimbursement, and even childcare for workers' children. Take a look at the top five innovative employee benefits your team will love.
1. Insurance Coverage
Offering insurance benefits to employees is a fantastic gesture of appreciation. Dental, medical, and vision health insurance, as well as life and disability coverage, fall under this umbrella. Offering life insurance demonstrates concern for the employee and their family. Family members of a deceased worker receive a lump sum that helps cover their loved one's final expenses and their own living expenses for a certain time frame.
2. Educational Benefits
Many Chicago companies recognize the value of providing educational perks to employees. Investing in your employees' education is a great way to show you care about their professional growth while giving them the tools they need to help the company succeed. In addition, the flexibility of online degree programs and the availability of online courses in disciplines, such as IT with CompTIA stackable certificates, guarantee that your workers efficiently complete their education without disrupting their work schedules. To top things off, you can offer your employees tuition reimbursement and help them pay back student loans.
3. Childcare and Family Benefits
The Center for American Progress reports that the expense of newborn and toddler care in a center isn't reasonable in any state. If all your workers' pay goes toward childcare, there's no purpose to their working for you. Considering the other options, the cost in Chicago isn't reasonable.
One way to alleviate this financial strain is for your company to pay the employees' childcare costs by providing them with access to backup care if their regular daycare provider is unavailable due to unforeseeable circumstances. You can demonstrate to your staff that you value their family lives by providing them with either an on-site daycare or a monetary stipend to go toward childcare. Employees who decide to start or expand their families are more likely to remain with a company that provides a supportive office environment and paid daycare.
4. Wellness Programs
Ensure your employee benefits program is tied to your workers' overall wellness efforts. For example, your organization can recognize the need to promote a healthy lifestyle among its employees and implement wellness initiatives. Gym memberships, weight-loss contests, smoking cessation aids, and preventative health checkups are all examples of such initiatives.
5. Profit Sharing
Another excellent way to retain your employees is establishing a company profit-sharing scheme. This means that a part of your company's pre-tax income goes into a pool shared among qualified workers. That way, they'll have more incentive to contribute to the company's bottom line. But, again, it's a great way to get more people behind the company's mission.
Employees Are Assets Worth Investing In
Providing a generous benefits package is a great way to get your employees behind the company's mission and commit to your vision. Visit The Professionalist to discover more ways to improve your business.
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