11 Boutique Benefit Offerings That Will Give You an Edge
Got the basics of medical, dental, life and disability covered and looking to add some additional benefits for your employees? In these competitive times, employers are looking for ways to differentiate themselves by offering unique benefits.
Consider these 11 “boutique” benefits that are making a big splash with today’s workforce.
- Pet Bereavement Leave
In addition to offering pet insurance, some employers have expanded their offering to include paid time off, ranging from 1-3 days, for loss of their animals. Fur babies have become part of our family, just like human members, and their loss can be equally devastating.
- Bring your Pet to Work – Everyday!
It has been shown that animals can reduce stress levels and foster more productive work environments. Allowing employees to bring a pet to the office can ease the stress of knowing they’re unattended for long periods of time.
- Work from Anywhere
Yep, you heard right. With advances in technology, allowing employees to work from anywhere at any time helps to improve their work-life balance.
- Unlimited PTO
Offering unlimited PTO has proven to convey trust, making employees–not their managers or HR directors–responsible for making sure their tasks and projects still get done, regardless of the time they take away from the office. Studies show that a policy like this doesn’t mean employees take more vacation days. As we all require different amounts of time off during various times in our lives, this type of policy accommodates this need.
- Paid Time Off to Volunteer
Giving back to our communities is very important. Employers are now incorporating paid time off and allowing employees to volunteer just about anywhere. Allowable time ranges are from one day to one month of paid leave.
Taking it one step further, allowing employees to take a paid week(s) or even a month or two is more common than you might think. Some organizations will require the time to be used for volunteer work, skill development, or something else that lines up with the company culture. But others don’t – giving employees the freedom to travel, explore or simply take the time to recharge, all with the comfort of steady pay and job security. Requirements to earn sabbatical leave are longer than the typical PTO days, but rewarding loyalty is typically much appreciated by long-term employees.
- MeTernity Leave
A little more controversial is the MeTernity Leave: “a sabbatical-like break that allows women and, to a lesser degree, men to shift their focus to the part of their lives that doesn’t revolve around their jobs.” Check out more information on this unique benefit here.
- Student Loan Repayment
As higher education costs continue to rise, employees are welcoming help to pay off tuition debt. This benefit differs from tuition reimbursement in the fact that loan repayment helps to pay for degrees that have already been completed, while tuition reimbursement covers current enrollments.
- Onsite Childcare
Juggling childcare is often extremely difficult for working parents. While finding space and staff can be a challenge to offer this benefit, the rewards are exponential time savings for parents in terms of drop off and pick up coordination. It also provides parents a sense of security knowing their children are nearby. Offering this benefit to employees gives them more time to focus on work.
- Financial Counseling Services
Don’t just pay your employees; help them manage the money they make. Financial counseling can help them decrease debt, increase wealth and learn budgeting principles.
- Fitness Memberships
Employee wellness initiatives are on the rise, and one great way to keep your team healthy is by securing a discounted rate for a variety of fitness memberships.
Whether you decide to stay the course with more traditional offerings or venture into more unique ones, offering a competitive package to employees is a must! Contact your Assurance consultant for additional information.
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