Written by MixCare Health Team —
In today’s competitive war on talent, companies are going beyond traditional benefits like health insurance and retirement plans to offer more creative and unique perks. These innovative benefits not only attract top talent but also enhance employee satisfaction and retention. Here’s a look at ten of the most innovative employee benefits and perks offered by companies around the world.
- Wellness Funds – Duolingo
Wellness funds provide employees with a budget to spend on health and wellness-related activities of their choice. This could include gym memberships, fitness classes, mental health apps, or stress-reduction workshops. Duolingo takes this a step further by providing an on-site fitness centre at their office so employees can easily fit in workouts during the day. They also offer massage services to help employees relax and de-stress. By allowing employees to customise their wellness journey and providing convenient on-site options, these benefits support a holistic approach to employee well-being.
- Menopause Support – Adobe, Standard Chartered Bank, Microsoft
Menopause support benefits are becoming increasingly important for employee well-being. Companies like Adobe and Standard Chartered Bank offer comprehensive services such as one-on-one expert consultations, online resources, and flexible working arrangements. Employees are provided with access to specialised medical practitioners, prescription medication, toolkits, conversation guides, and counselling support. By providing these benefits, companies acknowledge the unique health needs of employees going through menopause and create a more inclusive and supportive workplace culture.
- Fertility Benefits – Microsoft, Apple, Facebook, Google
Fertility benefits, such as egg freezing or IVF coverage, support employees’ reproductive choices. These benefits give employees the option to pursue parenthood on their own timeline, without worrying about the high costs associated with fertility treatments. This perk demonstrates a company’s commitment to supporting employees’ personal and family goals. Tech giants have emerged as pioneers in this area, with Apple and Facebook covering up to $20,000 per employee for egg freezing and other fertility treatments. Google goes even further, offering up to $75,000 for egg freezing and IVF, while Microsoft provides $50,000 for egg or sperm freezing. These generous benefits demonstrate a strong commitment to supporting employees’ family planning decisions and fostering a more inclusive and understanding workplace culture.
- Pet-Friendly Perks – Nestlé, Google, American Express
Pet-friendly perks, such as pet insurance, “pawternity” leave (time off for new pet owners), or office pet policies, recognize the important role that pets play in many employees’ lives. For example, Nestlé offers pet insurance to its U.S. employees, covering veterinary treatments related to accidents, illnesses (diagnostic tests, X-rays, surgeries), and wellness. The company also provides reimbursement for pet adoption and allows pets in many of its corporate locations. These benefits help reduce the stress and financial burden associated with pet ownership, leading to happier and more engaged employees.
- On-site Daycare and Childcare – Citi, Johnson & Johnson, Alfac
Balancing work and family responsibilities can be a significant challenge for many employees. To help alleviate this stress, some companies are now offering on-site daycare and childcare services. This allows parents to have peace of mind knowing that their children are being well cared for while they’re at work. Companies like Citi and Johnson & Johnson are leading the way by providing on-site childcare centres that offer discounted rates and robust child development programs for employees’ children. While on-site facilities are still a relatively rare perk, they can have a significant impact on employee engagement and retention by providing convenient, affordable care.
- Student Loan Payment Assistance – Chegg, PwC
Student loan repayment assistance is an increasingly popular employee benefit that helps ease the financial burden of education debt. Companies like Chegg offer up to $5,000 annually to entry-level through manager-level employees with at least two years of tenure, while PwC provides up to $1,200 per year with a maximum benefit of $10,000. By offering this valuable benefit, employers can attract and retain top talent, particularly among younger generations who are more likely to be saddled with significant student loan debt.
- Unlimited Vacation – Netflix, Asana
Unlimited vacation policies give employees the freedom to take as much time off as they need, as long as they meet their work obligations. This perk promotes a culture of trust and autonomy, allowing employees to manage their own time and prioritise their well-being. It also reduces the administrative burden of tracking vacation days. Netflix and Asana are two prominent companies offering unlimited paid vacation policies, promoting a culture of trust and autonomy. By allowing employees to take time off as needed while meeting job responsibilities, these companies attract top talent and encourage a healthy work-life balance. Their approach sets a strong example for others to follow in fostering employee well-being and empowerment.
- Home Office Stipends – Shopify, Twitter
Home office stipends help employees create comfortable and ergonomic workspaces at home. These benefits can cover the cost of office furniture, technology, or other supplies needed for a productive home office setup. By investing in employees’ home work environments, companies support remote work and ensure that employees have the resources they need to succeed. For example, Twitter and Shopify are one of the companies that provide stipends for home office setup, including ergonomic chair cushions, desks and chairs, as well as allows ongoing expensing of internet costs.
- Gender Affirmation Treatment – HSBC, Etsy
Gender-affirming healthcare is a crucial employee benefit that supports transgender and non-binary individuals in their journey to align their physical appearance with their gender identity. This care encompasses a range of medical treatments, including hormone therapy, surgeries, and mental health support. HSBC and Etsy are leading examples, with HSBC’s “gender dysphoria benefit” program and Etsy’s transgender-inclusive healthcare coverage. By offering these essential benefits, companies foster a supportive work environment where employees can bring their authentic selves to work.
- Subsidised Meals – Google
Healthy food options, such as free or subsidised meals, snacks, or cooking classes, make it easier for employees to maintain a nutritious diet. These benefits can include on-site cafeterias with healthy offerings, partnerships with local farms or restaurants, or nutrition education programs. For example, Google’s campus has cafeterias with diverse menus, including several sections of various cuisines, which serve free food for employees. By promoting healthy eating habits, companies support employee well-being and productivity.
These innovative perks and benefits reflect a deeper understanding of the diverse needs of today’s workforce. They not only enhance the attractiveness and employer branding of the companies offering them but also foster a supportive and inclusive company culture. As businesses continue to evolve, we can expect to see even more creative benefits that help improve the quality of life for employees around the globe.
Learn more about how MixCare Health can support your organisation’s employee benefit programmes here.
