There are several alternatives when it comes to providing benefits that are provided by or via the company. While some businesses specifically focus on enjoyable and decadent benefits like takeout cuisine, game rooms, etc., others focus their perk offers on health, wellbeing, and stress reduction.The availability of free meals, snacks, and beverages is a typical office bonus. These extras can vary from sweets like pastries and specialty coffees to healthier alternatives like salad bars, fruit platters, and waters with flavorings added
The beautiful thing about some employee benefits is that they may directly affect productivity in addition to making employees feel more appreciated and happy.
Offering a variety of healthy drink alternatives, for instance, might encourage improved hydration, which can enhance productivity. According to Lindsay McLain, vice president of marketing at JUST Water, “Research clearly reveals that proper hydration helps to maintain our brain functionality at its best. Offering employees flavor-infused fluids and premium mountain spring water is a terrific benefit that will improve their welfare and increase their productivity throughout the day. Yoga, meditation, gym memberships, gift cards to healthy restaurants, and other wellness-related job benefits are becoming more and more popular. Offering healthy workplace incentives to employees is a trend that is rapidly expanding as society as a whole places more emphasis on wellbeing.
In addition to this, some of the more traditional benefits offered typically include:
Medical or healthcare coverage is the most common benefit provided to employees. These cover packages typically include cover for checkups, doctors’ appointments, basic medical procedures, emergency room visits, and a range of surgical procedures
Another type of insurance that businesses frequently offer is dental insurance. In addition to the medical care mentioned above, dental coverage is occasionally offered as a distinct perk.
Ordinarily offered as a separate plan, vision insurance normally covers basic checks, annual eye examinations, prescription lenses, and some operations.
Another typical benefit is life insurance, which is sometimes offered as a group plan that covers all employees for a set amount of time. Benefits from life insurance normally continue for the duration of a person’s work with the relevant firm, after which point they are terminated from the group plan. Individual plans are available from certain businesses, although they are often the more expensive choice.
Retirement plans are available through most companies, although the structure may differ between firms. Common retirement plans include LIC’s New Jeevan Shanti, HDFC Life Click 2 Retire, SBI Life Saral Retirement Saver, ICICI Pru Easy Retirement, Max Life Guaranteed Lifetime Income Plan.
The cost of travel and lodging is often covered by the employer when an employee must travel for work-related reasons. However, many will also pay for everyday expenses like transportation and meals.
Remote working trends have been around far longer than the epidemic, therefore an enormously growing number of businesses are now giving their employees the freedom of working remotely. On specific days of the week, some employers permit employees to work from home, while others give them complete freedom to decide how they want to spend their time at the office.
Most recent college grads have unpaid student loan amounts, but some companies offer to help them make their repayments. This is a fantastic method to assist freshly qualified personnel in joining the industry and is often a specific sum each month.
Many companies provide funding for workers’ professional growth and training, and this is frequently the case for new hires who need training right away. Some businesses go above and above in giving staff members the chance to participate in professional (and, in some cases, personal) development programmes. By doing this, staff members may take advantage of such opportunities without having to use any of their savings or paid leave allowances.