Published: Dec 21, 2023
When considering which companies they’d like to work for, job seekers often take a look at an employer’s list of employee benefits and perks. The way we work has changed quite a bit over the last several years, and some employers have had to make new additions to their list of offerings in order to attract talent. With the end of the year fast approaching, we thought we’d take a look at some employee benefits and perks job seekers will be looking for in 2024. Let's begin.
In the last year or so, you’ve probably seen a ton of articles claiming that companies are bringing their employees back to the office, and while this may be true in certain cases, it doesn’t mean people are happy about it. Now that many workers have experienced the benefits of hybrid or entirely remote schedules, going back to the old ways just seems counterproductive.
There’s plenty of data out there that suggests alternative work schedules lead to increased productivity and employee engagement, while also greatly reducing employee turnover. In addition to this, workers will experience a better work/life balance, and they won’t mind putting in the extra work once in a while. Companies can also save money by eliminating office rent and maintenance costs if they decide to go fully remote.
Employee Health and Well-Being
Lots of companies say they care about the health and well-being of their employees, but what are they actually doing to help? Employees with healthy minds and bodies will perform better, and will experience better job satisfaction, so it goes without saying that employers should place emphasis on programs that improve and maintain employee health and well-being.
Employers that want to ensure the health and well-being of their employees should seek to offer on-site counseling, referral services, gym membership reimbursement programs or on-site fitness centers, and incentives for employees to improve their health, among other services and programs. It’s possible that your employer already offers some of these benefits, so if you’re unsure, ask a human resources representative.
Tuition Reimbursement and Student Loan Aid
If companies want to attract young talent, a great way to do so is to offer tuition reimbursement and student loan aid programs. Student loan debt is a major issue, and those who are entering the workforce for the first time after graduating college are often feeling the crunch associated with making monthly student loan payments. It’s also worth mentioning that employers who offer tuition reimbursement or help in repaying student loans enjoy higher employee retention rates.
Childcare Assistance Programs
The cost of living is constantly on the rise, and many families are dealing with the stresses of financial uncertainty, making it increasingly difficult to afford childcare. Employers that want to attract and retain talent might decide to offer childcare assistance programs, which often include flexible spending accounts (FSA), reimbursement, on-site childcare facilities, or additional PTO. By lessening the stress associated with affording the time and money that’s required for childcare, these programs may also lead to increased productivity and employee engagement.
Financial Wellness Programs
During times of economic uncertainty, employees will experience increased stress, which means productivity and employee engagement might take a nosedive. Unfortunately, employers may also be unable to give meaningful raises during such times, but they can offer the next best thing.
Financial wellness programs might include financial education events, retirement savings and assistance programs, or access to experienced financial advisors. Employees who are educated about their finances may feel less stressed, and will be able to adapt to changing circumstances. Along with this, when employees feel like their employer is on their side, they’re more likely to stay motivated and engaged.
Sustainability and Environmental Awareness
Nowadays, many job seekers are looking for companies that care about environmental issues. Once again, this is a case of what companies say versus what they’re doing, and savvy job seekers will be able to tell whether a company is actually doing their part, or just saying they are in their marketing materials and social media posts.
Job seekers may look for employers that offer cashback programs for employees who drive electric or hybrid vehicles. Some companies have taken this a step further, and have built on-site charging stations for electric vehicles. Lots of companies issue sustainability reports each year, explaining the steps they’ve taken towards becoming more environmentally friendly, so job seekers might start there when deciding which companies they’d like to work for.
Playing games at work? You bet! A company’s break room would be far more exciting if it featured some arcade games or a pool table, and as such, lots of companies are starting to offer game rooms on their list of employee perks. When workers are able to connect with each other in a fun way, they’re more likely to build stronger professional relationships, and they might even be excited to come to work each day.
It’s no surprise that some of the perks listed here are related to financial hardships. Going into 2024, job seekers and workers will want to feel some sense of financial security, and companies that provide assistance and offer programs that lessen the burden will attract the most talent. For first-time job seekers, it’s important to learn as much as you can about employee benefits and perks while taking note of which ones best suit your lifestyle, this way you can make informed decisions about potential employers.