Various Types of Non-Wage Benefits for Employees

July 26, 2018 by emilyemms

Employees are the backbone of the company. Their dedication will be one of the main reasons your business is successful. Moreover, this is something employers come to realize and practice in the capacity they’re able to.
Besides the usual non-wage benefits, like insurance, retirement or housing, employers can also do other things that will keep employees satisfied. When you think of it, it should be perfectly normal to create a healthy and as much as possible stress – free environment. Employees spend 40 or more hours per week at work so trying to create a comfortable working place should be one of the priorities.

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Sometimes, the non-wage benefits don’t have to be big and flashy but show you respect and appreciate your employees. Investing in ways to provide that to your employees will boost productivity and creativity, which will, in turn, help you grow your business. Therefore, here are non-wage benefits that you should definitely include in your business plan.

Health insurance

Although the basic health insurance is required by law, as an employer you have an opportunity to create your own plan. Depending on your business, you can buy an insurance program that will concentrate on the health issues which may arise from everyday tasks. For example, if your employees spend a lot of time in front of the computer screen, cover the eye exams once a year.

Additionally, besides the coverage take a more active role in carrying for your employees’ health. Organise mandatory yearly health exam which will include the basic checkups depending on the gender and age. Dental is something that is usually left to your employees, but you can still include some more expensive procedures in your employee health plan, as well as the basic examination.

Prevention is one of the crucial elements of healthy living. By taking active participation in your employees’ health care and not only respect what is prescribed by the law, you will show you appreciate them and value them as individuals.

Professional development

Your business depends on the expertise of your employees and that is something they acquire their whole lives. Since some additional educations and development programs can be pricey, employees usually can’t afford them so they opt out. Helping your employees to gain new skills will be beneficial for both them and your business.
A lot of education programs and training focus on the newest practices and you can get those for your company if you enable your employees to learn them. The moment your employee gains knowledge on the newest methods and principles, you can consider your business has them as well.

After all, the portfolio of your company doesn’t depend only on the projects you worked on, but also the stage of professional development your employees are in. If you are ready to invest in your employees’ education and training, you will also be investing in your company’s growth.

Maternity/paternity leave and child day care

The media has covered this issue vigorously recently since many companies don’t pay much attention to the maternity/paternity leave. Usually, they concentrate on the basic legal requirements and don’t think much about it. However, being more understanding on this matter will certainly get you points with the employees and image on the market.

Create a program that will offer paid time off for the mother or father, so the family can settle down and get used to the new routine with a baby in the house. Employees tired from sleepless nights are not productive and are more prone to making mistakes. Your understanding and support will help them lose the stress and concentrate on overcoming this new chapter in their lives. Additionally, they will value you more and employees’ respect is not something to take lightly.

Create a daycare center at work for the employees who don’t have anyone to look after their children or who simply believe that it’s better than the kindergarten. This will give your employees not only a piece of mind but also support and more options which is something every working parent appreciate a lot.

Create comfortable working conditions

Since your employees spend most of their day at work, you must pay attention that the working conditions are suitable for that. This means that you should regularly maintain the commercial AC systems and heating so they would work perfectly at all times and when necessary.

Install protective foil on the windows so sunlight doesn’t bother your employees. On the other hand, simply use shades and curtains that will still allow the sunlight in without it interrupting the daily tasks. Make sure that all your employees have ergonomic chairs and that they know how to properly sit at the desk. There are also special desks you can buy to make sure they don’t ruin their posture and develop back pain, so place them on the list of mandatory office furniture.

Hire a yoga coach that will come and teach your employees how to stretch and relax the muscles. You can also install an app on every computer which will remind them to stand, walk, drink water and rest their eyes. Although these may seem like your bothering them, you’ll be surprised how people tend to forget to do those things when they’re immersed in work.

Create perks for your employees

Perks are those things that are very important to employees and may even be the deciding factor for your reputation as an employer. They can be anything, depending on your budget, but they are all there to create a relaxing working environment and make your employees feel appreciated.

One of the most common ones nowadays is a recreational area where your employees can go to drink coffee, play games on their break and simply hang out. Kitchen with a basic variety of beverages like coffee, tea, and juices are also a common thing, and some even have a dining area where you can have your lunch.

Team building activities are great occasions to meet your employees and create a friendlier environment at work. It can be anything, really, from singing karaoke to going on a corporate vacation. Allowing pets is also one of the positive perks while building a Zen garden and having a masseur on staff will also get you extra points with employees.

In the end

Non-wage benefits are about not only valuing your employees for more productivity but also respecting them as human beings. Build your company culture so it will resonate with the employees and make you one of the most desirable employers. The supportive working environment will have a positive effect on the business, and at the same time create a respectable reputation for the company.

About Author: Emily is a business psychologist with a passion for marketing. Researching, exploring and writing is her favorite thing to do. She works as a consultant at Portcullis Australia. Besides that, she loves animals, music, and traveling.