Creative Workplace Benefits

Employee benefits, also known as perks and fringe benefits, are provided to employees over and above salaries and wages. Employee benefit packages may include overtime, medical, dental, vacation, profit sharing and retirement benefits, to name just a few. Offering these types of benefits to your employees is important because it shows them you are invested in not only their overall health, but their future. A rich employee benefits package can help attract and retain talent. Benefits also have the ability to help set you apart from competing organizations—benefits more often than not, can be the deciding factor when future talent decides to accept a job offer.  

When looking at fringe benefits, there are two types, fringe benefits that are required by law (i.e., social security and health insurance and fringe benefits provided at the organization’s discretion. (i.e. free breakfast and lunch, gym membership, employee sock options, retirement planning services, child care, education assistance, etc.). Organizations will offer additional fringe benefits in hopes of increasing employee wellness and employee engagement. Employees often work harder when they feel their employer appreciates their contribution to the organization. One way to increase employee satisfaction is by providing additional benefits like paid holidays, employer-provided car, workplace flexibility, etc. It will help reduce incidences of a disgruntled workforce and keep the employees engaged.

Healthcare and retirement benefits are important for obvious reasons, but the popularity of additional fringe benefits seem to be on the rise, especially following a global pandemic. Check out UST’s list of Creative Workplace Benefits for some ideas on how you as an employer, can show your staff support while increasing your chances of retaining your employees. 

Being creative with your benefits package at a budget restricted nonprofit can be less expensive and often better received than a raise, so put on your thinking cap and leave no stone unturned. Remember, money alone will not keep employees engaged so take the time to come up with a plan to show them some appreciation.