Successful employee benefits management in 2019 means knowing about trending perks at work. Of course, understanding how successful companies have been attracting and retaining employees helps mitigate critical modern big business employment struggles.
Baby boomers have been leaving the workforce for some time. Conversely, the influence of a growing millennial employee population has created new challenges. Meanwhile, research has shown that "76% of employees are open to new opportunities," making employee retention one of the biggest HR struggles of 2019.
While baby boomers sought high paying jobs, Millenials like companies with good benefits, compensation, and respectful treatment of employees.
6 Hottest Employee Benefits Perks of 2019
1. Employee Benefits to Pay Off Debt
As Gen X and Millenials dominate the workforce, they seek solutions to the issues that the baby boomers accepted as "normal." In addition, 2019 concepts of investment and risk management mean adapting to the predominant generations' needs.
"Millennials between the ages of have an average of $42,000 in debt each." Companies such as PWC, First Republic Bank, Penguin Random House, IBM, Peloton, and Honeywell match employee contributions to student loans.
2. Employee Benefits through Paid Travel & Experiences
Anyone who likes travel and exciting experiences like them more when their employer foots the bill. Understandably, employers across the nation now offer paid or encouraged travel as employee benefits.
For example, the hospitality company, Airbnb offers employees $500 each quarter, equivalent to $2,000 per year, to board in listed travel locations. Similarly, the staff at the recreational retailer, REI, get two paid "Yay Days" each year. Who can say "nay" to two days of paid outdoor rec?
3. Fitness in the Workplace
Looking for win-win employee benefits? The Wall Street Journal reported that, "... better nutrition, more exercise, less stress—were responsible for ... gains," in productivity.
Free food opportunities can prove complicated due to many factors, observed Facebook. However, corporate employees appreciate free exercise facility access on-site or off. Often initiated as millennial employee benefits, employees of all ages enjoy them. For example, Coca-Cola provides members of the Coke economical or free onsite fitness centers.
4. Employer/Employee Benefits: Short Weeks
Employees always enjoy short work weeks and fewer hours on the job.
A study of the four-day workweek program at a New Zealand firm found employees were 20% more productive — and much happier.
Likewise, tech education company, Treehouse, similarly, initiated a 32-hour workweek. It reported happier, more productive employees.
5. New ways to get to work
Innovators, Facebook and Tesla help employees commute comfortably and economically. For example, Facebook offers commuters free valet parking and charging stations for electric vehicles. Meanwhile, the Tesla carpool program loans employees a company car to commute and use on the weekends.
6. Proactive Employee Benefits: Working Remotely
Telecommuting caught on slowly but has begun to explode. Two-thirds of polled managers reported that their remote employees produce more.
Many companies, including Humana, Dell, Aetna, Amazon, Apple, and American Express, employ remote staff. Telecommuters ...
waste little or no time on the road
stay on board longer
provide venues to greater diversity and expertise
demand fewer space accommodation needs
cost less to equip
work proactively to find technology solutions
accept a reduced salary as compensation
Employers offering at least part-time telecommuting flexibility collectively save $44 billion each year.
Take advantage of these 6 hottest employee benefits perks of 2019. Recruit the best talent, as well as increase employee retention, productivity, and happiness. Trending perks at work mean return on investment for leading businesses.