7 Non-monetary Benefits That Prove Priceless
In an attempt to lure quality candidates, employers are getting more and more creative when it comes to job perks. From wellness packages to getting your birthday off, quality of life appears to (finally!) be a concept that is seeing the light of day. Read on for some of the non-monetary benefits that can make a job feel less like work.
1. More time off
Let’s start with the obvious, shall we? Extra annual leave is probably the most popular non-monetary perk companies like to offer. And for good reason—what employee doesn’t enjoy more time off? This can be packaged in a variety of ways, such as letting employees leave the office early during the summer or offering “mental health” bonus days. This perk is particularly vital to those interested in seeking the elusive work/life balance.
2. More frequent kudos
While yearly performance reviews have their place, Forbes points out that more and more companies are opting for a “continuous feedback model,” in which employees are acknowledged (and rewarded) more frequently for their contributions. What does that acknowledgement look like? It could include things like the chance to attend industry-related classes or a company-wide field trip—anything that celebrates what employees are getting right—and breaks up the monotony of the work week.
3. Company transportation
Traveling for work can be a hassle, especially if your car isn’t particularly reliable. And no one likes having to keep up with the expense forms needed to track mileage and fuel. In response, more businesses are offering company cars to their employees who have to travel. Driving a different (and, let’s face it, probably nicer) car while making the rounds can be a nice change. Recruiter suggests it can even make employees feel more independent and autonomous.
Now that many employees have had a taste of either working from home or a hybrid model, in which they work some of the time at home and some of the time in the office, the desire for workplace flexibility seems at an all-time high. Employers are slowly beginning to understand this, with some offering flexibility built into their employment packages. More time working from home obviously means more family time and less time commuting back and forth to an office. But according to a Stanford study, it’s also shown to increase worker efficiency.
5. Lifestyle packages
Employee wellness is necessary for a happy and productive workforce. In response, some places include employment packages with perks like gym memberships or have an organized company sports team. But the focus often isn’t all on physical wellness—counseling sessions and dedicated quiet spaces in the office show a commitment to employees’ mental health, as well. This idea of fostering both physical and mental wellness is not a new one but has certainly been gaining traction—especially after the tumultuous past couple of years.
6. Personalized rewards
When it comes to benefits, there’s no “one size fits all” formula. Different people value different things, and therefore require different motivations in order to achieve maximum productivity. Some companies offer individualized perks based on your hobbies and interests, such as theater tickets or restaurant gift certificates. Randstad points out this has the additional benefit of making workers feel appreciated and recognized as individuals—not just part of an anonymous workforce.
7. Social consciousness
While it’s still fairly rare, more and more businesses are realizing their workforces not only appreciate but require a sense of ethical responsibility when it comes to their jobs. In response, these companies offer charitable incentives and opportunities for volunteer work that can help build a sense of community within the team while assisting the local community.
It’s clear the time has come for both companies and employees to focus on much more than paychecks. Whatever your priorities, it’s safe to say there are some companies out there that share them.