When people think about a job, the first thing that comes to mind is salary. Although salary is a crucial aspect that is given much attention, several other factors make a particular job more preferable. These benefits enable the employees to be happy and secure and work with a lot of energy. Non-welfare is also quite popular in many organizations to retain and motivate employees. Here we will describe various additional rewards that are possible to provide to the employees apart from salaries.

Possible Benefits for Employees in Addition to Their Salary

1. Health Insurance

Indeed, it is easy to name the primary and most frequently mentioned advantage – medical coverage. Medical expenses can be high; therefore, medical insurance lets the employees pay for doctors’ visits, hospitalization, and medications. It is common to find a company with a health insurance policy encompassing employees and their families.

The study conducted by the Kaiser Family Foundation reveals that about 56 % of companies’ employees in the United States of America have health insurance. This indicates that health benefits are essential to most employees’ compensation packages.

Health insurance can include:

• Doctor visits
• Prescription medicine
• Dental and vision care
• Emergency care
• Mental health support

Holding health insurance greatly benefits employees because it allows them to avoid causing or worsening their health complications, thus cutting medical bills.

2. Retirement Plans

It is crucial to think about the future or how to ensure that it is shaped in a way that pleases everyone. One policy most firms have is retirement policies because most people consider having a pension or a savings scheme to cater to their needs after working years. The 401(k) plan is regarded as one of the leading retirement plans in the United States.

In a 401(k) plan, the employee contributes a portion of his general wages, while some employers contribute towards the savings the employee puts in. This is because employees can be given a chance to create a good financial future. Some benefits include a pension, a form of remuneration that ensures one is paid after retirement.

It provides for the employee’s standard of living and welfare, as well as his/her needs if he/she ceases working.

3. Paid Time Off (PTO)

Employees require time off to attend to personal matters or need some time off to relax. Paid leave is quite common in the current workplace, and it includes the following:

• Vacation days
• Sick leave
• Personal days
• Public holidays

Holidays also refer to time off from work to rejuvenate. Research shows vacations benefit the human body’s well-being and mental health. According to the U.S. Travel Association, vacation workers can work 40% more effectively after they resume work.

Companies that offer an acceptable PTO policy benefit employees by allowing them to be content and productive with their work-life balance.

4. Flexible Work Hours

It is quite evident that the traditional employment model is full-time employment, where individuals work a standard 9 to 5. For this reason, some organizations provide work flexibility, allowing one to start and end work anytime.

There are the following advantages of flexible working hours;

• Better work-life balance
• Less stress from commuting
• Higher job satisfaction

Some organizations also support telecommuting, which means that employees work from home. This can be efficient, frugal, and relevant.

5. Bonuses and Profit Sharing

Other types of compensation can include bonuses or—more often—programs of profit sharing. These are supposedly tied to the employee’s performance or the company’s profitability.

Bonuses can be:

• Annual bonuses
• Performance-based bonuses
• Holiday bonuses

Profit sharing is a system that provides employees with a percentage of the company’s profits. This, in turn, encourages the employees to perform better since they feel that they are directly affiliated with the company.

6. Education Assistance and Training

Acquiring new abilities is valuable in the working process and a person’s professional development. Some organizations offer to sponsor training courses or seminars or to pay for specific college courses. This is important because it grows the employee’s career and brings more value to the business.

Some organizations also allow their employees to earn and share their knowledge and insights with new company members through programs such as mentorship. Such programs enhance one’s skills and foster good professional working relationships.

7. Employee Discounts and Perks

In most organizations today, employee discounts are typical among many companies. These can include:

• Discounts on company products
• Gym memberships
• Free meals or snacks
• Free parking or transport benefits

Some large businesses offer amusement privileges, such as tickets to specific occasions or even discounted travel. These are some benefits that make the employees feel appreciated by the company.

8. Childcare Assistance

In most families, with both parents going to work, it can be challenging and costly to seek childcare services. Some of the support that companies offer include childcare as follows:

• On-site daycare centers
• Childcare allowances
• Flexible work hours for parents

This is of essence to the employees because it allows them to concentrate on their work, knowing that their children are well cared for.

9. Wellness Programs

As a result, the quality of work delivered by such employees is enhanced due to good health. Some of the programs that many companies provide include:

• Gym memberships
• Yoga or meditation classes
• Health screenings
• Counseling services

Such programs aim to promote fitness and fight stress among employees. That is why it is recommended that organizations have a healthy and screened workforce. Healthy workers will always be happier and more productive.

10. Housing and Transportation Benefits

There are cases where some companies provide employees with housing benefits or relocation allowance when one has to relocate to a different city in the course of duty. The following benefits include: Other employees provide transportation also, including:

• Free public transport passes
• Fuel allowances
• Company cars

These advantages allow a company to cut some of the daily expenses and reduce the stress levels of people traveling to and from work.

11. Stock Options and Equity Plans

In some organizations, this is allowed so that employees can purchase the stocks of the organizations at a cheaper price. This is known as stock options. The other major issue of concern is the delegation of organisms to handle elections in various countries, where they exert pressure on the government to manipulate the poll results in their favor. As the company expands, it is reflected in the increase in the share price, and the personnel earn a profit.

This is because stock options help employees feel like they are part of the company’s team. The more stock options they earn, the more they need to work harder.

12. Parental Leave

Parenting is an excellent process in life since it can make people responsible for the well-being of others. Some firms provide paid parental leave, enabling one to stay home with this newborn. This includes:

• Maternity leave for mothers
• Paternity leave for fathers

The law also provides for adoption leave for parents who adopt a child with a disability of more than one year to take up to one year leave to enable them to be with their child.

It enables employees to care for their families and not think about work.

13. Team Building Activities

The employees seal a company’s victory due to a strong team’s efficacy. There are always several reasons why companies provide employees with entertainment, such as:

• Company trips
• Team lunches
• Fun events like sports competitions

All these create friendships and make work enjoyable for those involved as they relate with one another.

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Conclusion

It is always good to be paid fairly, but other incentives make the job even more appealing. Organizations that offer good benefits are happy, secure, and motivated employees. Offering such perks enables the companies to attract better employees and provide good working conditions.

Health insurance, flexible working hours, provision of education for children, and treatment for mental health are a few elements that enhance employees’ lives. They occasionally act as a support system for such businesses by ensuring employees remain productive and happy.