Only a good salary is not enough to retain good employees. You must give them benefits so that they become more dedicated to their work and feel good about working in your company.
Apart from the regular benefits of medical coverage, insurance, and retirement benefits, many companies today provide extra benefits as well. Here are the employee benefits you should include in your company.
Flexible working hours
In today’s technologically advanced world it is not necessary to sit on the office desk all the time to work. People can now work from anywhere, even when they are traveling. So, you should offer flexible working hours. You can also allow your workers to work from home. This way your employee’s productivity will increase.
In today’s busy world, both parents work most of the time. So, taking care of children and family becomes very challenging. By offering flexible working hours or working from home opportunities, it is possible to retain employees.
Maternity and paternity leave
During childbirth, both parents need some time to adjust to their new life and take care of the child. So, the company should offer appropriate maternity and paternity leave.
Moms need to feed their babies. So, there should be a separate room for lactating mothers so that they can take some time off to pump their milk on a bottle or breastfeed their baby.
Healthcare costs are very high now. The companies can provide some medical coverage for the employees and their immediate family members. This will help the employees in getting treatment at a lower cost. It will increase employee morale as well.
Companies can provide various types of insurance policies. Life insurance policy can be beneficial for the employees for supporting their family when they are gone. There can be policies for disabled employees.
Many employees will be happy if the company provides retirement funds. It is an automatic saving that can be very useful after retirement. The company usually contributes to the fund along with the employees.
Extra payment for overtime
Extra payment must be provided if an employee works overtime. However, overtime shouldn’t be encouraged. The right practice should be to finish all the works on time. Otherwise, more people will work overtime unnecessary just to get the extra pay.
The more perks you offer to your employees, the turnover rate will be lower. These benefits indicate that you care for your employees. So, these benefit schemes must be incorporated in your company policy.