Remote work is a hot topic. Some companies are all for it and some are back in the office 5 days a week. No matter how you shake it, distributed work has surged, making it necessary for companies to reconsider how to treat each employee fairly, no matter where they work.
HR Departments are under more pressure now than ever before to build an inclusive company culture that better serves their people while keeping costs low. We all know traditional health insurance benefits like medical, dental, vision, and retirement planning are table stakes these days when it comes to attracting and retaining talent. Employees are expecting more from their employers, and companies need to know how to respond. When it comes to employee benefits, flexibility is key. Offering lifestyle benefits for employees is pivotal for:
Gone are the days of entirely in-person workshops and lunch and learns. Remote employees thrive with accessible learning resources. Companies can provide virtual training sessions and online platforms, promoting skill enhancement and career progression. Prioritizing learning and development underscores commitment to employee growth. Examples of these opportunities include:
Addressing student loan debt is paramount, particularly for younger employees. It is becoming more and more apparent that in order to keep up with competitors, some sort of student loan support is becoming more crucial in today’s workforce. In 2019, only 8% of employers offered student loan repayment. In 2023, that number has grown to 34%, according to the Society for Human Resource Management (SHRM). Employers can offer repayment assistance programs, easing financial burdens and enhancing employee wellbeing. This resonates with millennials and Gen Z, crucial for talent retention. Here are a couple ways to offer this type of program:
Wellbeing means something different to everyone! Think about it: There are 5 generations in the workforce today. How is it possible to choose a cookie-cutter benefits package that will be meaningful to every single employee? Spoiler: It’s not. In order to recognize diverse employee needs, flexible benefits packages are imperative. Options like customizable lifestyle spending accounts, remote work arrangements, and well-being stipends cater to varied lifestyles. Flexibility showcases inclusivity and fosters a supportive work environment. Examples include:
Balancing work and family is challenging, especially for parents. Companies can implement parental support programs, including childcare assistance and extended parental leave policies. Prioritizing family-friendly initiatives attracts and retains top talent.
Employee mental health is a priority, especially in remote settings. Mental health counseling, mindfulness workshops, and work-life balance initiatives foster a positive work culture. Investing in employee well-being boosts morale and productivity. Here are some ways to invest in employees’ wellbeing:
Enhancing remote and global workplaces with tailored lifestyle benefits is crucial for employee satisfaction and organizational success. While implementing these programs may seem daunting, companies like Fringe offer lifestyle benefits, customizable solutions for learning and development, student loan repayment, parental support, and well-being initiatives.
By putting in place programs like those listed in this article, companies can create a thriving workplace culture that prioritizes employee engagement and well-being and drives business success. 🌟
