Believe it or not, showing appreciation for employees can make a huge impact on the employee experience. According to a survey by the Society for Human Resource Management, not feeling appreciated is the top reason why employees leave a job. But that survey revealed a scary accompanying statistic—most employees receive no recognition or appreciation for a full year.
With Employee Appreciation Day right around the corner (March 1st!) employers should be busy planning ways to show their employees how valued they are. Simple gestures like a company lunch, an individual conversation to show gratitude, or giving employees an afternoon off.
But employers can take this one step further by showing employee appreciation all year long. The best way to do this is by offering employee benefits that truly address the needs and wants of your employees. This lets them know that you understand their pain points and value them enough to assist them.
Some hot benefits to consider are:
Student loan forgiveness programs. Majority of the workforce is dealing with large sums of student loan debt that is hindering their ability to make major purchases or save for retirement. Offering programs that help employees tackle this debt can drastically ease their concern over the matter.
Paid parental leave. Many younger employees want to start families, but are concerned about leaving work to do so. Paid parental leave for both mothers and fathers is a big help for those looking to start families during their career. The cost of raising a child is constantly increasing, so showing your employees that you value their family plans makes them truly feel appreciated.
Financial advice. Much of the workforce struggles with financial literacy or how to maximize their retirement savings. Show employees that you value how hard they work for their money with advice on how to make the most of it. This can be done with one-on-one consultation, group classes, or online resources.
Standing desks. Many recent studies have shown that sitting for long periods of time can negatively impact health. Providing standing desks promotes a more active workday and helps counteract the effects of sitting, while showing your employees that you value their well-being.
Stress management and mental health programs. Go beyond just physical health with benefit offerings by exploring stress management and mental health programs. It’s estimated that 1 in 3 American adults is dealing with a mental health issue that they may not be able to get treatment for under traditional medical care. Left unmanage, stress can snowball into major mental and physical health issues for employees. Providing on-site resources or coverage for outside resources can make all the difference in an employee’s overall well-being.
Pet insurance. Most people consider pets to be part of the family but unfortunately, health insurance does not. Routine veterinary care can cost up to $1,000 a year, with some illnesses and surgeries costing tens of thousands of dollars. Pet insurance options shows your employees that you value what they value, even if it has paws.
Employee benefits that address the needs, concerns, and priorities of your employees can help them feel valued and appreciated – only Employee Appreciation Day and beyond.
Sources:
1. SHRM/Globoforce Employee Recognition Survey, 2012
2. https://www.shrm.org/resourcesandtools/hr-topics/benefits/pages/2018-benefits-whats-hot-and-whats-not.aspx
