Employee benefits and company culture are topics that often divide employers. While an increasing majority of employers believe that a robust culture is at the heart of a successful company, some still believe that it is an expensive drain on time and effort to ultimately achieve the same outcomes.
A key element of building a great company culture is having happy employees and how do you ensure you have happy employees? Well offering great employee benefits is a good start. Here, we explore the most alluring employee perks on offer from some of the companies with the most established company cultures.
1. Unlimited annual leave
Top UK employers like Netflix and LinkedIn are quickly finding out just how worthwhile unlimited annual leave can be. Instead of dictating unflappable office hours with stringent leave approval systems, unlimited annual leave means telling employees that you trust them to manage their work around time taken off. This alone could see team members flourishing under their new responsibilities, and working harder to achieve the work/life balance they’ve desired for so long.
Bear in mind, too, that merely offering unlimited annual leave doesn’t mean your team members will be absent forever-more. The responsibility to make time for their work means that the majority of your employees will still only book leave where necessary. As such, you should be able to enjoy improved company culture, without the compromises you might expect.
What’s more, the ability to take time off whenever they need can help employees to avoid burnout, an issue that now haunts over 50% of the UK workforce. This alone can improve employee engagement, and should see productivity soaring.
2. Private healthcare
Even with free healthcare across the UK, benefits schemes including private healthcare are a significant draw for many. In fact, this often comes in as a pretty close second to the top benefit draw of pension schemes. That’s hardly surprising considering that this option offers employees unlimited access to:
- Scans and tests
- Surgical procedures
- Exclusive drugs
- Alternative therapies
- Hospital stays
- And more
Still, only 19% of UK employees currently enjoy this perk. This, even though private medical care can drastically reduce sick pay and time off to attend medical appointments. Not to mention that reliable healthcare provided when needed can eliminate the spread of inner-office sickness. This is especially the case if you follow in the footsteps of Allen & Overy, and provide an in-house private GP for continued use.
Each of these benefits together can make for a more supported, satisfied, and healthy workforce all around. And, that can work wonders for boosting the productivity you rely on to see a steady stream of profits.
3. Volunteering days (paid)
Countless UK companies now offer paid volunteering days, including Halifax, Experian, and OVO Energy. And, given that 53% of under 35s want to volunteer more than they do, you could benefit from doing the same.
By giving staff paid time off to pursue their volunteering desires, you free them to help in schools, work in charity shops, or go dog walking at a local shelter. And, as many companies are now coming to realise, making time for this perk opens employees up to a whole host of volunteer benefits, including –
- Increased self-confidence
- Improved work/life balance
- Reduce stress, anger, and anxiety
- Feelings of achievement
For employers, these benefits translate to increased retention, higher levels of pride among teams, and even new skills that could unexpectedly translate in the workplace. Sure, you may have to lose a member of your team for a few days, but you can bet they’re still more productive as a result.
4. 1yr+ maternity/paternity leave (paid)
Maternity and paternity leave have long been an area of reluctance for employers. The idea of having to pay team members and their replacements for extended periods wasn’t appealing. Yet, inflexible or unwilling maternity and paternity benefits will now cost you employees outright, as well as potentially leaving you on the wrong end of discrimination claims.
That’s why companies like Transport for London have noticed the benefits of offering parents a full year of potential leave, regardless of how long they’ve been in service. Other companies are fast coming up behind them, even going as far as to offer childcare vouchers and hampers as well, and they’re already starting to feel the advantages of such an approach.
For employers especially, implementing this perk increases the chances of employee loyalty on return, as opposed to potential annoyance for parents forced to return too soon. Impressive paternity and maternity perks can also go a long way towards reducing discrimination, and forever attracting the best talent.
Employees, meanwhile, can enjoy valuable time with their newborns, without having to worry about income protection at all. By also offering flexible working hours on parental return, employers guarantee that team members are in top health and 100% happy before they’re thrust back into the working environment.
5. Flexible working hours/working from home
That leads us nicely onto the last, and perhaps most prevalent perk of modern culture. One in four UK workers has quit a role at some stage due to flexibility restrictions, resulting in an impressive 74% of companies now offering flexible or home working at least one day a week. UK companies including Aviva, Google, and BAE Systems, to name a few now focus workdays towards that elusive work-life balance. And, with more companies turning to cloud computing, the prevalence of this perk is only set to skyrocket into 2020.
In many ways, the advantages of these options for both employers and employees speak for themselves. Again, time out of the office helps employees to avoid burnout and manage life commitments around workload. This, in turn, can lead to productivity increases by up to 30%, as well as less time off overall. And, of course, with so many employees now favouring this way of working, offering this perk is guaranteed to see you finding and retaining the best employees on the market.
Benefit from a better company culture
Any employee perk can boost your company culture, but the top names featured in this list prove that these options definitely stand above the crowd. Companies who implement methods like these should quickly find that talent attraction and employee retention become easier than ever to achieve. And, those top employees, in turn, can take your company culture even further. So, what are you waiting for? Include these perks in your next job listing, and look out for the fantastic opportunities they incite.