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What Are the Benefits of Flexible Work for Companies?
Google is famous for its over-the-top perkswhich include lunches made by a professional chefbiweekly chair massages, yoga classes, and haircuts. Twitter employees enjoy three catered meals per day, on-site acupuncture, and improv classes. SAS has a college scholarship program for the children of employees.
A new survey conducted by my team at Fractl found that, after health insurance, employees place the how to make electronic money value on benefits that are relatively low-cost to employers, such as flexible hours, more paid vacation time, and work-from-home options.
Furthermore, we found that certain benefits can win over some job seekers faced with higher-paying offers that come with fewer additional advantages.
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- We also offer a full range of benefits that support you and eligible family members, including domestic partners and their children.
- Compressed work weeks working 40 hours over four days instead of five Alternative schedule jobs working second or third shift Temporary work Seasonal jobs Gig work As an employer, you can offer your staff one or more of these flexible work options, but keeping track of the different employment statuses and work schedules of your entire staff may seem like too much work for very little return.
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- The most common benefits are medical, disability, and life insurance; retirement benefits; paid time off; and fringe benefits.
As part of our study, we gave 2, U. The next most-valued benefits were ones that offer flexibility and improve work-life balance. Furthermore, flexibility and work-life balance are of utmost importance to a large segment of the workforce: parents.
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They value flexible hours and work-life balance above salary and health insurance in a potential job, according to a recent survey by FlexJobs. American workers are notoriously bad at using up their vacation time.
Over the years, these benefits have become more comprehensive and, for some, somewhat complicated. Remuneration and benefit packages vary from company to company but needs to provide a clear explanation of complex topics so that employees can more easily understand their options and make informed decisions. It was established EMEA Benefits Communication Survey, that most companies do make a concerted effort to communicate the value of their compensation and benefits packages, but options benefits opportunities admitted that understanding of these packages remains low. So much so, that communications are currently receiving a greater boost of focus and efficacy than before. Company communications Communication is necessary across several media, from internal communications via print media such as handbooks, as well as multimedia channels, digital platforms and staff events, through to one-on-one engagements where the information is treated in a highly personalised manner.
Offering an unlimited time-off policy can be a win-win for employer and employee. Over two-thirds of our respondents said they would consider a lower-paying job with unlimited vacation.
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For example, HR consulting firm Mammoth considers its unlimited time-off policy a success not just for what it does but options benefits opportunities for the message it sends about company culture: Employees are treated as individuals who can be trusted to responsibly manage their workload regardless of how many days they take off.
In some cases, under an unlimited time-off policy, employees take the same amount of vacation time.
Student loan and tuition assistance also ranked highly on the list of coveted benefits, with just under half of respondents reporting that these bonuses could nudge them toward a lower-paying job. Company-sponsored gatherings like team-bonding activities and retreats were low on the list as well. We noticed gender differences regarding certain benefits.
Most notable, women were more likely to prefer family benefits like paid parental leave and free day care services. Men were more likely than women to value team-bonding events, retreats, and free food.
Employee Benefits: understanding your options and opportunities
Both genders value fitness-related perks, albeit different types. Women are more likely to prefer free fitness and yoga classes, while men are more likely to prefer an on-site gym and options benefits opportunities gym memberships.
Read more on Motivating people or related topics Hiring and Personnel policies Kerry Jones is the Inbound Marketing Manager at Fractl, where she specializes in content marketing featuring their proprietary research.