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New and Innovative Employee Benefits That Will Boost Your Staff Retention

Job satisfaction levels are a key determinant of how an organization keeps its best staff in today's human resource landscape. It may not be possible for growing businesses to compete with multi-million-dollar revenue companies. Instead, there are alternative ways leaders can make employees feel that the business cares for their well-being and future. If you are an HR leader today, presents some new and innovative employee benefits to consider.

Sponsoring Their Education

Your organization should encourage its employees to envision the path they would like their career to take. To ignite growth, employers should allow employees to take academic leave to pursue courses related to their work.

Alternatively, the organization can provide employees with flexible working hours to take a part-time or online graduate program. Online programs allow employees to figure out a healthy work-life balance. Able organizations should sponsor or subsidize the cost of short courses and degrees for their staff. For instance, an engineer who wants to pivot to more administrative work can take a Master of Business Administration graduate degree to gain accounting, financial analysis, data analysis, entrepreneurship, and management skills.

Giving Education Benefits

Education benefits show an employer's investment in its staff's professional development. You can structure these benefits in different ways, including tuition reimbursement and scholarships for deserving applicants. All employees pursuing any self-development course should be eligible for education benefits. While some employees may afford to take time off from work to focus on education, others may prefer a self-paced online degree to complete their coursework at a moderate pace.

Staff Coaching

Staff coaching helps employees identify and work toward goals related to an aspect of their work or personal life. An organization can cover coaching sessions for its staff members as part of the compensation package. Employees check in with their coach regularly, so they stay on course toward their goals. People aiming to rise in leadership benefit immensely from coaching as it grows their self-awareness, helping them to work on weaknesses and use their strengths better.

Extra Perks

There are lots of other perks that can serve as great incentives, like gym memberships, time off to volunteer, donation matching, and assistance with student loans. If you’re looking for something with a more local flare, consider tickets to local theaters and museums, as well as some LA Dodgers tickets to help build a sense of community.

A Robust Benefits Package Sends the Right Message

The nature of an organization's benefits packages says a lot about how important the staff members are to it. For wellness, employees should not worry about losing income by taking their vacation days. Encourage people to set aside time for personal care by making paid vacation and personal days standard.

Your organization should also be creative about improving the health insurance coverage for employees so that customizations your employees genuinely care about are included. For instance, offering vision care plans is useful for employees working long hours in rooms with artificial light. Staff members also place a lot of importance on dental care, and therefore organizations should strive to have this benefit in their insurance plans.

Let All Benefits Work Together

The various benefits that your organization uses to reward its staff members should work in congruence and send a consistent message that it cares about its employees' wellness, development, and productivity. Take time when designing the employee benefits package at your organization — expensive does not always mean better. Instead, each item should have a specific impact on the minds and attitudes of the target beneficiaries.

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