Beyond the Basics: The Impact of Non-Traditional Benefits on Workplace Satisfaction
Traditional benefits packages often fall short of meeting all employee needs. While the choices may be simple due to lack of options, 81% of employees report a preference for selecting their own benefits. At Benepicks, we understand that incorporating non-traditional benefits can significantly enhance workplace satisfaction and help attract a broader range of talent. This post delves into the types of non-traditional benefits that are gaining popularity and how they can positively impact your organization.
Expanding Benefit Horizons
Non-traditional benefits, including pet insurance, mental health coverage, fitness memberships, and even remote work opportunities, are becoming increasingly crucial in tailoring benefits packages that reflect the varied lifestyles of a modern workforce. Employees surveyed in 2024 about their most desired benefits besides health, dental, and vision reported:
58% of employees want mental health coverage
34% of employees want Fertility coverage
34% of employees want additional specialty medication coverage
These benefits not only cater to personal employee needs but also demonstrate an employer’s commitment to supporting their staff’s overall well-being and life outside work.
Advantages of Offering Non-Traditional Benefits
1. Enhanced Employee Attraction and Retention: Unique benefits make your company stand out in the job market, attracting prospective employees and retaining current staff who value these thoughtful inclusions. 59% of employees report they would leave their role for another with benefits more tailored to their needs.
2. Increased Employee Satisfaction and Morale: By addressing diverse aspects of employees' lives individualized benefits boost overall job satisfaction and morale, which in turn can enhance productivity.
3. Improved Employer Branding: Offering innovative benefits reinforces your reputation as a forward-thinking employer that truly cares about its employees' well-being.
Implementing Non-Traditional Benefits
Most companies spend over 200 hours per year managing their healthcare and benefit selection. This includes employee surveys, cost benefit analysis, and regular reviews. Even with all of that administrative work, a majority of companies end up in a compromise. Each year they go through the same process, with similar results.
By partnering with Benepicks companies are able to provide non traditional benefits without the administrative burden. Each employee is able to select the coverage that works for them, building the perfect benefit package.
At Benepicks, our platform is designed to facilitate easy integration of both traditional and non-traditional benefits, allowing companies to offer a truly tailored benefits experience. By embracing a broader spectrum of benefits, organizations can significantly enhance their attractiveness as employers and foster a supportive, satisfied workforce.
