Potential Benefit of Offering Unconventional “Benefits”
In this post-pandemic season of a heightened awareness of how quickly life (and all things therein) can change, potential employees are vetting their prospects more thoroughly to ensure that their revised priority system aligns with the value proposition that a new employer may offer. Compensation will always be on top of the list of things to consider when making a transition in the workforce, however, people have begun to place greater emphasis on factors beyond traditional pay and benefit packages.
As a result of this recalibration, many employers have begun to move away from more standard benefit options, and are now ushering in unconventional offerings in their compensation & benefits packages. Below are a few examples of non-traditional benefits that have come to the forefront in this new era:
- Mental Health Support
- These benefits can include counseling, mindfulness, meditation programs, and/or access to Employee Assistance programs that can provide direct links or referrals to appropriate providers.
- Support for Caregivers
- Many employees face additional challenges as providers of elder or child care. Employers may be able to alleviate some of this pressure and allow employees to prioritize their families by providing flexibility with regard to scheduling or location. Childcare allowances or similar benefits can also bolster your benefit offering.
- Personal Finance
- Younger generation employees in particular value the added support regarding budgeting, debt or student loan repayment assistance, financial counseling or retirement planning. Providing these programs or access to finance professionals demonstrates a commitment to the employees success both professionally and personally.
- Personal Fitness Support
- Employees seeking to establish or maintain a healthy, active lifestyle may be drawn to employers that offer access to online fitness classes, reimbursement for gym memberships, subsidies for exercise equipment, onsite exercise facilities or walking trails, or even allow schedule flexibility for employees to pursue the activity of their choice.
- Family Planning
- These benefits can include additional time off or support for family leave, pregnancy loss, fertility care, adoption and surrogacy planning. It is best to position these benefits as inclusive as possible to be fair to all employees within the organization.
By adding these sorts of unconventional benefits, employers can offer more compelling packages to potential new hires while at the same time providing additional perks to current employees. Further, employers can use the types of benefits they offer to communicate clearly what they value as an organization and demonstrate their commitment to providing their employees with additional tools and resources to help them reach their personal and professional development goals.
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