RESOURCES
10 Work Perks to Woo Rockstar Candidates
Are you looking to woo rockstar candidates or keep your current team happy, engaged, and committed? Then read below for the great perks we think make a huge difference in recruiting and retaining!
1
Travel Perks
This can range from company-sponsored trips and team-building retreats to travel stipends for remote work in exotic locations.
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One study found that more vacation time was an appealing perk for 80% of respondents. (Source: Harvard Business Review)
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34% of employees shared that they have had their most creative ideas on company or executive retreats. This figure increases to 53% for corporate travelers between the ages of 16 and 24 (TravelPerk).
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The importance of business travel regarding employee engagement and retention is set to increase as millennial and GenX employees will make up 75% of the workforce by 2030 (U.S. Bureau of Labor Statistics).
2
On-site Child Care
Offering facilities or services that cater to working parents can be a huge benefit, making the work-life balance more manageable.
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In Care.com’s 2022 report, 63% of HR leaders believe that increasing child and senior care benefits can help them attract and retain talent. Even more agreed that offering childcare benefits would help boost employee productivity.
Over half of all employers now offer some form of childcare benefits, and many qualify for tax credits as a result of doing so. The Journal of Managerial Psychology found that on-site services can lower absenteeism and increase employee performance.
Patagonia made on-site childcare services available to all workers at their headquarters and their Reno distribution center with a sliding scale tuition to ensure affordability. Since then, they have reported a 25% lower turnover rate amongst employees who utilize the program.
3
Educational Stipends
Companies may offer a certain amount of money annually for employees to take courses, attend workshops, or pursue further education in their field.
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A Capterra survey found that 87 percent of businesses say employee learning and development programs are critical to retaining talent (Capterra).
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In Gallup’s The American Upskilling Study, 71 percent of workers said learning increased their job satisfaction, and 61 percent said learning opportunities make them want to stay with a company.
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Education platform Udemy found that more than half of high-engagement companies have employees who spend 31–50 hours learning per year. (Udemy)
4
In-house Wellness Programs
This can range from on-site gyms and yoga classes to mental health resources and meditation rooms.
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According to a study by Aflac, 70 percent of employees enrolled in wellness programs report higher job satisfaction than those not enrolled. (Aflac)
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According to United Healthcare, 56 percent of employees participating in wellness programs take fewer sick days and 62 percent say they helped lower their personal healthcare costs. (United Healthcare)
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Companies with highly effective health and wellness plans are 40 percent more likely to report better financial performance. (Sun Life Financial)
5
Free & Subsidized Meals
Daily / weekly catered lunches, stocked kitchens, or meal vouchers can be a big perk for many employees.
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A 2022 survey of 1,000 workers conducted by ezCater found that 65% say they would come to work on-site if free lunch were available, with nearly 1 in 4 reporting that they’d come back to the office full time if free meals were offered. (ezCater)
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Researchers at Cornell University discovered that employees dining together provides a major uplift in worker productivity. (Cornell University)
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6
Pet-Friendly Offices
Allowing employees to bring their pets to work, or even offering pet insurance as a benefit, can be a big draw for animal lovers.
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The Human Animal Bond Research Institute has studied the effect of dog presence on group problem-solving. Their research indicates improved cohesion, trust, and cooperation in groups with a dog. They have also conducted a nationwide survey showing greater employee engagement and retention in pet-friendly workplaces. (Human Animal Bond Research Institute)
Companies with amazing pet-friendly perks! (Rover)
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7
Unlimited Paid Time Off
Beyond just generous vacation days, some companies offer unlimited PTO, giving employees the flexibility to take time off as they need, trusting they won't abuse the policy.
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72% of employees name unlimited PTO as their number-one most valued employee benefit, above wellness programs, retirement plans, on-site medical care, and paid sabbaticals (MetLife)
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Workers with unlimited PTO took an average of 12.09 days off, while limited PTO workers took 11.36 days off. (Namely’s 2022 unlimited PTO survey)
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72% of employees who work at a company that encourages them to take time off are happy with their companies, compared to just 42% of employees who work for companies that discourage breaks (U.S. Travel Association)
8
Housing or Relocation Assistance
Particularly in high-rent cities or for international hires, some companies offer housing stipends or full-fledged relocation packages.
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In 2023, 39% of companies expect an increase in permanent voluntary relocations. Many of these employees are seeking a lower cost of living, access to a different lifestyle, or closer proximity to their family.
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According to the 2023 Corporate Relocation Survey, the top three incentives offered by companies were salary cost-of-living adjustments, relocation or sign-on bonuses, and extended temporary housing benefits. 84% of companies reported that offering nonstandard incentives did help encourage relocations. (Atlas)
9
Unique Office Amenities
Think rock climbing walls, sleep pods, in-house cafes, game rooms, rooftop gardens, and more.
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In a recent survey from CBRE, 81% of workplace teams rank amenities as the most important factor for improving employee experience. (CBRE)
In addition to a state-of-the-art fitness center, their own Starbucks, an outdoor basketball court, and more, United Shore has its own in-house “escape room,” United Shore trains its team members in mortgage knowledge and team-building skills as they must find clues and solve puzzles to escape in a certain amount of time.
PNC offers activities for each employee — like wellness challenges and biometric screenings — that lead to credits, which are deposited as dollars into HSAs or paychecks. The company also has onsite Well-being Centers in Pittsburgh, PA and Miamisburg, OH, and employees participating in its medical benefits have access to Teladoc.
Voted “the Coolest Office Space” by the Tampa Bay Business Journal, The Penny Hoarder HQ sets the gold standard of having unique office amenities. This includes a library, a mother's room where nursing mothers can pump, a coffee bar, air hockey, and shuffleboard tables. Plus. staff can find zen using during twice-daily meditation sessions in their quiet room, relaxing in their indoor park that features artificial turf flooring, company-branded yoga mats, and beanbag chairs.
10
Sabbatical Leaves
After a certain number of years, employees get an extended break (like a month or more) to pursue personal projects, travel, or simply rest.
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In a 2019 survey from the Society for Human Resource Management, just 11% of employers reported having a policy for unpaid sabbaticals, and just 5% for paid sabbaticals. That’s still a significant gain from 1977, when McDonald’s instituted what was arguably the first corporate sabbatical program in the United States. (Society for Human Resource Management)
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59% of workers are now at least moderately burned out, more than at the peak of the pandemic in August 2020, according to a recent Aflac survey of 2,000 US employees, while Gallup survey data found that employee engagement continued to decline last year. (Gallup)
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75% of employed Americans say they would like to take an extended break. 53% say they’d like the opportunity of an extended break to escape the stress of their work life .43% say they believe that taking a sabbatical would make them more employable. And 37% say they feel a sabbatical would make them more confident at work. (eDreams)
Work Perks Work!
These perks, while unique and appealing, also reflect a deeper commitment on the part of companies to create a positive, nurturing, and holistic work environment for their employees.
As you can see above, many perks are creative, won't break the bank, will actually save your company a lot of money, and become a huge part of why candidates choose to work for you and why current employees decide to stick around longer.
As such, it's time to get creative and add some perks for your employees! What do you think will work best for your team, your culture, and your budget?