Employee benefits play a significant role in maintaining workers’ well-being and satisfaction, both in and out of the workplace. However, as an employer, how can you ensure that your benefits package is well-rounded but doesn’t overextend your budget? By choosing benefits that are low-cost but high-value, you can simultaneously offer employees an outstanding workplace experience while staying comfortably within your budget.
The right benefits can even help improve overall employee satisfaction — or help you attract the talented workers you’re looking for to make your team complete. The following article highlights some of the top benefits that are sure to boost employee experience and reduce employee benefits costs. These upgrades will enhance your employee benefits package for years to come.
Employee Assistance Programs
One of the best ways to improve your employee benefits package without breaking the bank is to implement an employee assistance program (EAP). Employee assistance programs help workers navigate a wide range of scenarios and issues, both in and out of the workplace. EAPs can help employees reduce their stress levels, make strategic career decisions, manage workplace conflicts and organize travel, to name a few examples. EAPs also typically include confidential counseling services. These services help workers maintain a healthy work-life balance, regardless of the issues they’re facing.
When it comes to implementing an EAP, the good news for employers is that they are a relatively low-cost benefit. Of course, costs depend on whether employers invest in the most basic or the most elaborate of programs. That being said, an EAP generally costs employers between $12-$50 per employee per year. This reasonable price point makes EAP programs a high-value benefit that can reduce employee benefits costs and help employees thrive in their workplace and beyond.
Discount Entertainment Programs
Yet another low-cost benefit that will enhance your employees’ overall professional experience are discount entertainment programs. Benefits providers like TicketsatWork give employees access to a vast selection of entertainment discounts. Workers can enjoy special offers, preferred tickets and seating to theme parks, sporting events, movies, hotels, shows and local attractions. Employees with families are sure to appreciate this type of entertainment benefit during their time off.
By investing in a discount entertainment program, you are showing workers that you care about their quality of life. Better yet, entertainment programs won’t cost you an arm and a leg. By giving employees plenty of discounted opportunities to enjoy life outside of work, employers can help employees stay motivated, engaged and productive at work.
Employee Travel Programs
On top of entertainment discounts, employers can increase the value of their benefits package with a travel program. Travel programs are designed to manage employees’ professional traveling experiences while ensuring that companies stay within their budgets and safety guidelines. In addition, they determine how employees organize their travel, granting them perks along the way — frequent flyer miles, business class seating and comfortable hotels, for instance.
Future and current employees are sure to appreciate this type of program that makes business trips less restrictive and more beneficial for workers overall. The terms of your company’s employee travel program may vary, depending on your employees’ needs and desires. Will you allow employees to book their own travel? Will you invest in luxury accommodations and perks? Each of these details will help employees see that you value them both in and outside of the office.
Flexible Work Schedules
It’s no secret that remote, hybrid and flexible work schedules are becoming increasingly common in workplaces around the world. Granting employees the option to work from home or personalize their hours is a win-win situation for workers and employers alike. Not only will employees enjoy their newfound freedom to customize their schedules, but employers also tend to see improved productivity with work-from-home configurations. In fact, a recent Forbes study shows a 47% increase in worker productivity when working from home. With this in mind, it’s easy to see why more and more companies are giving employees the benefit of flexible or remote hours.
Because today’s modern worker is constantly on the go, offering flexible hours can be a highly valuable benefit that attracts new employees and keeps your current team happy. As employees make the transition to working from home or hybrid hours, make sure that they have access to the resources they need to succeed. Prioritize connection with online communication platforms and regular team meetings.