- As the war for talent intensifies, companies are offering generous lifestyle perks that resonate with the modern workforce generation.
- Wellness focused benefits have become increasingly popular as the line between work and life continues to blur.
- Unlimited vacation time, flexible working policies and generous parental or caregiver leave are among the top perks companies should consider.
Increasingly, companies are prioritizing wellness in their benefits strategies in the hopes of attracting and retaining top talent and reducing absenteeism. According to recent estimates, the global corporate wellness market is expected to reach $90.7 billion by 2026, expanding at a CAGR of 6.8%.
The war for talent is expected to get fiercer in the coming years, therefore companies need to start offering perks and benefits that speak to the modern worker. As the lines between work and life continue to blur, wellness focused perks and benefits have become increasingly popular among the modern workforce generation.
7 Wellness Perks And Benefits Companies Should Offer
1. Unlimited vacation time
As more companies switch to a results-driven culture, unlimited vacation time is increasingly becoming an attractive work benefit. Companies like Amazon and Google allow employees to take as much time off as they need as long as they meet goals and continue to deliver on expected results.
This is an effective benefit because it motivates employees to be productive and meet goals, while at the same time empowering them to be owners of their own time. It’s a win-win situation; employers get the results they need/want, while employees are more satisfied and happy with their workplace culture.
Sometimes, employees might not even have a vacation planned, but they might feel the need to stay at home and recharge, or simply take a personal day to deal with personal matters.
2. Flexible working policies
Speaking about letting employees be the owners of their own time, flexible working policies are here to stay and companies that want to attract top talent need to provide workers with flexibility.
There are various types of flexible working arrangements, but simply providing employees with the opportunity to come in and go out of the office at flexible times can go a long way in improving their health and wellness.
Oftentimes, workers need flexibility in order to go to doctor appointments, go to a meditation or yoga class, or pick up their kids from school. Providing them with the opportunity to come and go as they need can help improve the work-life balance of most employees, which can in turn decrease stress and burnout, and increase engagement and satisfaction levels.
3. Nap rooms
As many as 80% of workers feel stressed on the job. Stress can negatively affect a person’s mental and physical wellbeing, and it can quickly lead to burnout if not managed correctly.
Providing nap rooms or quiet areas in the workplace where people can easily go to take a break can not only help manage stress, but also keep workers feeling refreshed and productive.
“Studies of napping have shown improvement in cognitive function, creative thinking and memory performance.” In other words, well-rested individuals can better cope with stress, challenging situations, and are better equipped to make decisions. Napping can also have positive effects on our physical health.
4. Generous parental or caregiver leave
Providing new parents with enough time off to adjust to a new member of the family and bond with them can help improve workplace satisfaction and loyalty. This, combined with flexible working arrangements, can be a defining factor when deciding between jobs. This type of leave should also be extended to workers who are caregivers; those who take care of family (parents, siblings, grandparents).
Oh, an important side note, this type of leave will — ideally — be paid.
5. Offer on-site personal care services
This doesn’t need to be a daily occurence, but taking personal care services into the workplace can positively impact the health and wellbeing of employees. Some personal care services that you could offer in the workplace include:
- Salon services (haircuts, basic manicure and pedicure)
- Dry cleaning services (pick up and drop off in the office)
- Guided meditation and mindfulness sessions
- Yoga classes or recreational sports
- Access to healthy snacks and food (order team lunches/meals)
- Dentist visits
6. Volunteer opportunities
Offering employees unique volunteer opportunities can help improve workplace culture by providing purpose and support. Volunteering has been shown to improve mental health, reduce social isolation and loneliness, and enhance physical health.
To make sure that the volunteer opportunities you provide resonate with employees, consider reaching out to them and asking if there are any special causes that are close to them or that they would like to engage with. Other ideas include organizing a drive, participating as a group in activities (visiting a shelter or a care center), or allowing employees to take time off to volunteer.
7. Development opportunities and programs
The modern workforce values purpose and impact, and many employees are interested in finding meaning in their work and life. This can be done by providing access to personal and professional development opportunities and programs. These types of programs — by helping employees find meaning and purpose in their work — can lead to higher engagement and satisfaction levels.
Workplace happiness is a determining factor in overall workplace success; the happier and better employees feel, the better they will perform and identify with your brand.