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December 19, 2019 BestCompaniesAZ

Best Company Benefits Workers Want in 2020

With an increasingly knowledgeable and experienced job market, companies must be innovative to create advantageous benefits and perks to attract high-achieving talent.

Benefit packages enrich the lives of on-the-go professionals who desire balance in and out of the office. Likewise, they are extra incentives—or the cherry on top—that makes a job proposal much more enjoyable.

Benefits packages are not a one-size-fits-all package deal. Many employers offer a wide variety of benefits to accommodate a diverse workforce. Nonetheless, there is a handful of benefits that all employees can get behind when considering benefits.

The following list is the top 10 best company benefits that progressive employees are looking for in 2020.

Top 10 Best Company Benefits Workers Want in 2020

1. Holistic Wellness

Let’s face it, health is a great determiner of our overall wellness, happiness, and productivity. Additionally, healthy employees are absent less often and more engaged. In other words, when we feel good, we perform our best work. For this reason, holistic wellness is an advantageous benefit for employees.

What is holistic wellness?

The treatment of the whole system characterizes holistic wellness, or body, rather than isolating and treating quarantined issues. Holistic medicine is highly regarded because it attempts to address both the mind and body.

Holistic wellness benefits manifest in several forms. An employer may provide nutritious office snack options to fuel the mind and body through the workday. Likewise, a company can host intermittent meditation or yoga classes on-site. In addition, an employer may outsource their employee wellness programs to companies like Vitanya to increase brain fitness, neuroplasticity and more.

All in all, holistic wellness is a positive reinforcement of good habits that allow employees to achieve their highest potential.

2. Parental Benefits

Parental benefits are a coveted benefit that workers desire in the new year. Paternal benefits give new parents ease at mind to temporarily leave the workforce to bond with their new family member without fear of repercussion.

This popular benefit encompasses a wide range of items, including adoption assistance, paid paternal leave, surrogacy operations. Correspondingly, some organizations even offer paw-ternity—leave benefits available to new pet owners in the workforce.

3. Volunteerism

volunteering company benefits

The growing job market of socially-conscious Millenials is creating a demand for philanthropic company initiatives and eco-friendly organization practices.

In recent years, socially-conscious companies are making the shift to include volunteering benefits. Companies may opt to offer paid time off for employees to volunteer or hold specific volunteer days throughout the year.

For instance, Voya gives employees 40 hours of volunteer time per year and has amazing match programs. Additionally, Spear Education filled and donated 300 backpacks full of hygiene and school supplies for students in Guatemala.

Even more, volunteerism enhances company culture, increases employee happiness and productivity, and improves brand perception.

4. Commuter Program

Whether it’s the five o’clock rush hour or financial burden that train tickets put on your wallet, employees may not need to worry anymore about their transportation to work. In recent years, company commuter benefits have made the ride to work much more comfortable.

Employees can receive credit for carpooling with their peers to the office. Likewise, a company may provide public transit passes for those that apply.

All in all, commuter benefits are a gamechanger for employees that dread the rush hour commute and make getting to work that much easier.

5. Flexible Scheduling

To follow the previous benefit, flexible scheduling is an up-and-coming benefit that is sure to ‘wow’ in 2020. Flexible work hours allow employees to create work hours that fit their schedule.

Flexible scheduling has several benefits. Employees can schedule their workday around rush hours to maximize their productivity in the office and reduce commute time. Additionally, workers can plan their workday around life events like doctor’s appointments.

To sum up flexible scheduling, it is a unique tool that helps employees improve their work-life balance and work on their terms.

6. Telecommunication

With the increasingly impressive technological advancements, the need to convene in an office is becoming less. Telecommuting, or remote work, is a popular benefit in companies that do not heavily rely on employees being in the office.

Instead, employees can make themselves comfortable in any environment that inspires them to do their best work—and has an internet connection. In addition, there is a wealth of coworking spaces that welcome entrepreneurs and remote workers to collaborate.

Remote work has several benefits: zero commute time, flexible schedule, increased productivity, and improved work-life balance and employee retention.

Ultimately, telecommuting is a win-win for both the employee and employer!

7. Student Loan Repayment

The national student loan debt has reached an astronomical high in recent years. To emphasize, federal student loan debt reached $1.5 trillion in 2019. Even more, it is estimated that the average amount of student loan debt per borrower is $35,359.

Needless to say, student loan debt is a tremendous financial burden.

With this said, many companies acknowledge the value that college-educated students add to the workplace and have taken the initiative to help students repay their student loans.

All things considered, alleviating the burden of student loans, companies can boost morale, productivity, and increase retention.

8. Professional Development Programs

professional development company benefits

Did you know that career stagnation plays a significant role in employee retention? To clarify, employees that do not feel challenged, and as if their not progressing are more likely to seek alternative employment options.

Professional development programs and conferences allow employees to grow their skill set and explore new areas of work. Additionally, professional development mentorship programs present unique opportunities for employees to visualize promotion possibilities and learn more about the business.

In the long term, professional development programs are a worthwhile investment that benefits the employee and employer.

9. Financial Planning Services

Retirement is a hot-button topic for savvy employees thinking ahead to the future. Retroactively, traditional employee benefits packages include life insurance and a variety of retirement savings plans—e.g., traditional 401k, Roth 401k, and more.

Nonetheless, with an everchanging economic environment, employees seek out further financial assistance to enrich their financial knowledge.

Correspondingly, more employers are now offering financial planning services that include paid consultation with financial advisers.

With this company benefit, employees can make educated decisions about their finances, plan for significant life events—like buying a house or having a child—and prepare for the future.

10. Employee Resource Groups

The best diverse and inclusive companies, like GoDaddy, create spaces for employee-led groups that are aligned with the organization’s mission, values, goals, and business practices.

Employee resource groups are a safe space for diverse communities to seek mentorship, feedback, and community. Depending on the workforce, there are a variety of specialty groups that an employer can support, including veterans, single moms in the workforce, and more.

There are several benefits that employees can reap from employee resource groups. For example, employees can commune with company leaders and gain a better understanding of the company. Even more, employees that seek out ERG’s are more engaged in their work and company culture.

On the whole, employee resource groups are a positive reinforcement of community, culture, and diversity.

Fair compensation and lucrative company benefits can make or break a job offer—thoroughly research company benefits and the best companies at BestCompaniesAZ. Likewise, if you’re stuck in the job search cycle, BestCompaniesAZ has a plethora of job hunting resources and interview guides to help you nail the job search and find your dream job. Don’t wait another moment—good luck job hunting.

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