Attracting top talent is challenging. But retaining your employees is even tougher.

When your company doesn’t have the finances to offer salary increases, work perks and employee benefits packages can replace monetary rewards.

Of course, employees want a fulfilling job with opportunities for career advancement. But employee benefits are an opportunity to increase retention without hurting your company’s bottom line.

Finding the best work perks and employee benefits

If you’re unsure about the appeal of company benefits and work perks, it’s worth noting that almost half of employees consider them when finding their next job.

It’s challenging to state the best employee benefits because they vary from employee to employee. One might appreciate flexible working hours, while the next would rather have daycare for children.

One certainty is that if your company is to attract the best talent, you need to think bigger than outdated perks like dress-down Fridays and spontaneous pizza lunches.

Why employee retention’s important

Companies that neglect employee retention pay a heavy price — in both a financial and non-financial sense. Not only does the cost to replace an employee sit between 6-9 months’ salary, failure to prioritise employee retention means you miss out on a stable, committed workforce.

By keeping your best employees around, you benefit from the following:

Higher productivity.
Improved quality of work.
Employee satisfaction.

All of this adds up to improved results for your business.

Investing in employee retention is a no-brainer, and this article is the best place to learn how you can use employee benefits packages to improve your company’s retention.

The cost of employee benefits

For a small business, shedding money every month for the right employee perks might seem out of reach.

Thankfully, there are plenty of affordable benefits and perks to keep your workforce happy, many of which work as effectively as the more lavish options. For example, many workers desire flexible working — a benefit which can be free of cost for your business.

As you’ll find in the list below, plenty more employee benefits follow the same pattern.

Choosing the right employee benefits and incentives

Having to choose between dozens of benefits can be overwhelming. How do you narrow the options and select the right perks and benefits?

When selecting perks for work, consider the cost, impact, and frequency. Ideally, you should have a mix of:

One-off benefits, such as a cycle-to-work scheme.
Recurring events, such as hiring referrals.
Rolling benefits, such as working from home.

You can keep things fresh by adding to your employee perks programme a couple of times per year.

Big statements aren’t always necessary, but if your company has the resources, abundant compelling benefits retain and attract top talent. Our list of employee benefits and work perks covers both bases, enabling you to find a healthy balance for your financial and logistical requirements.

Read on as we explore 31 staff perks and benefits you can implement to build a vibrant company culture.

31 work perks and employee benefits

Here are 31 specific employee benefit examples that will motivate your current team and help to boost employee recognition.

1. Commute travel reimbursement

Employees spend a lot of money getting to and from the workplace. And ever-rising fuel and parking prices are a huge concern for everyone driving to work. Plus, sitting in traffic doesn’t put your team in the best frame of mind for the workday.

Companies with travel benefits as a work perk are boosting their employee retention rates as they remove these concerns. And you have a few options here, e.g. a car allowance or reimbursing public transport expenses.

Adding a car allowance to your employee’s salary looks like supporting fuel and maintenance costs. But you can’t know that all this money supports work travel — you’ll inevitably be paying for personal trips too.

Meanwhile, encouraging the use of public transport by reimbursing ticket prices (either partially or fully) is commendable. It’s more sustainable and will help to relieve congestion in the area.

Yet, claiming expenses is a time-consuming task that will distract your team from more valuable work.

Instead of these approaches, you can take a fresh approach to business travel by offering a mobility budget.

With Bolt Business, your team can access various mobility options to make travelling for work easier. Employees can get picked up by a Bolt driver, ride an electric scooter or e-bike, or opt for car sharing with Bolt Drive. And, as the company admin, you can build travel policies, set spending limits, and track every journey.

Employee benefits

2. Free healthy snacks

Offering food and drink is an age-old work benefit. Whether it’s a working lunch, a stocked pantry, or the latest coffee machine, employers have long been aware that the key to an employee’s heart is through their stomach.

While it’s true that employees warmly welcome free food and drink, it no longer has the draw that it once did. Most businesses offer their team simple snacks and refreshments when working at the office — so much so that an increasing number of employees expect free food and drink.

For business owners, it’s essential to go beyond the conventional and provide a more diverse selection of food and drink. You should upgrade your office kitchen selection to provide nutritious food and drink that helps your team stay healthy and, in turn, perform to the highest level possible.

By signing up with Bolt Business, you can keep your office stocked by allowing certain team members to make convenient grocery orders with Bolt Market.

3. Hiring referrals

Finding top talent is more challenging than ever.

Offering hiring referrals makes it easier to fill vacant positions, as the employee recommending someone you later hire receives a monetary reward. They get a bonus while you plug a gap in your workforce — win-win!

4. Maternity and paternity leave

You’ll have certain maternity and paternity obligations, depending on the country where you operate. But there’s no reason to limit your policies to the minimum requirements.

Extending leave entitlement for mums and dads — or ensuring that it’s shareable between them — is a powerful incentive that can positively impact employee retention.

5. Private medical insurance

Private medical insurance is one of the most expensive work benefits you can offer, but it goes a long way towards attracting and retaining employees.

Private insurance coverage prevents your team from waiting lists and substantial healthcare costs. Whether it’s physical health, mental health, dental, or vision, a conclusive healthcare plan ensures they get the support they need at a difficult moment.

6. Birthday leave

A birthday cake is an excellent way to show appreciation for your staff, but offering a paid day off is even better.

Birthday leave is an underused work perk that doesn’t cost a fortune but means the world to employees. Whether it’s the entire day off, an early finish, or a late start, giving your team a break to celebrate their birthday is an invaluable yet straightforward work perk.

7. Work social events

Allowing your employees to form close bonds with co-workers goes a long way towards boosting retention. Putting in the effort to organise after-work drinks, team-building events, and seasonal get-togethers contributes significantly to sustaining employee happiness and morale.

8. Bonuses

Financial rewards will always speak loudest to certain employees. For team members in results-driven departments, cash bonuses can motivate them to work to the best of their ability.

9. Summer camp for children

While summer brings a lot of smiles, it also brings a childcare headache for parents.

If your team includes parents, consider offering a summer camp so your employees have one less thing to stress about. If it isn’t logistically feasible, contact local childcare facilities to arrange a discounted rate for your workforce’s youngsters.

10. Cycle-to-work schemes

Many companies are introducing cycle-to-work schemes to improve employee happiness, fitness, and morale — while reducing carbon emissions.

Although the name suggests otherwise, you don’t have to limit the scheme to bikes, as depending on the provider you can also include skateboards, scooters, and other modes of micromobility.

Through the scheme, your company subsidises the cost of a new (e.g.) bike for an employee. In return, they need to use this bike for their daily commute. As you can imagine, this perk is popular for businesses in central locations, making it much easier for employees to avoid traffic and parking — all while saving money and helping the planet!

Company perks for employees can include a cycle-to-work scheme.

11. Mental health support

Almost half of employees say their job has a detrimental impact on their mental health. When life events or work take a toll on your employees, you should offer some form of support.

On-call counsellors and access to therapy are some ways you can improve access to mental health support. Similarly, implementing paid mental health days can be a welcome addition when employees deal with burnout, stress, or anxiety.

12. Employee discounts for company products or services

Offering free use of, or employee-discounted access to, your business’s products or services is a simple but effective way to attract and retain employees.

This attractive work perk benefits the employer and employees by providing significant savings while ensuring money is spent within the business.

And by incentivising employees to use your products or services, your team will have a well-tuned knowledge of the company, which, over time, can lead to significant improvements.

Companies of all sizes should consider this initiative, but as far as small business company benefits go, this is one of the best as it won’t blow your budget.

13. Create an ergonomic workplace

Employees notice when you take their health and safety seriously. Investing in ergonomic-friendly solutions will make your team more productive and experience greater job satisfaction.

Better still, with your employees at lower risk of musculoskeletal disorders, you reduce healthcare costs and absence from work.

An ergonomic workplace can include posture-correcting desk chairs, standing desks, and laptop stands.

14. Bring pets to work

An office with four-legged friends might not be feasible every day of the week, but you can bookmark a regular day for allowing them, which gives your team something to look forward to.

This is a valuable work perk, especially for new pet owners anxious about leaving their little friends home alone.

An example of benefits for employees includes bringing pets to work.

15. Retirement and pension plans

Whether an employee is starting or retirement is approaching, employees value a company pension plan so much that 3 out of 4 consider it the most critical workplace benefit.

Thoughtful employers inform their team about retirement, prepare them for life after work and match pension contributions. If you’re still determining the appeal of a stellar pension plan, 28% of employees are considering switching jobs for a better retirement plan.

16. Free park or museum passes

People are, by and large, social creatures, and this unique work benefit allows employees to explore the best cultural experiences with co-workers and family. Free or discounted admission can cover the most popular museums, theatres, cinemas, and tickets for sporting events.

For employees who like a taste of culture, this is a valuable workplace benefit they won’t want to give up lightly.

17. Paid time off that gets taken

Offering employees paid time off is essential, but you must also ensure employees book those days off. When you notice team members haven’t used their vacation allowance, remind them of the importance of taking a break and encourage them to maintain a healthy work-life balance.

Indeed, in some countries, a specific period of paid absence is mandated to ensure that employees take a break from the workplace.

18. Flexible working hours

If you’re searching for free employee benefits, look no further than flexible schedules.

When quizzed on which perks for work employees expect most, a flexible schedule comes up repeatedly. Some people do their best work in the morning, some need an extended break in the middle of the day, and others need to finish early for family commitments.

By empowering your team to be flexible with their work schedule, you show that you trust their decisions, which will earn you respect too.

19. Childcare assistance

To keep working parents loyal to your company, childcare subsidiaries are an increasingly popular choice.

Given the astronomical childcare costs nowadays, parents face the difficult choice of sacrificing their careers or shouldering high expenses. Providing childcare reimbursements makes it easier to retain and attract new talent.

And so high is the demand for childcare support that almost two-thirds of parents say they would leave their job for another if it offered better family-care benefits.

Undoubtedly, this is one of the best employee benefits, so act fast before your top employees switch companies.

20. Paid sick leave

There’s something unhealthy about rationing sick days. When staff exceed their limit, they use vacation days instead, which results in them being able to take fewer breaks throughout the year.

Offering an unlimited sick day policy shows that you respect and trust employees.

21. Volunteering opportunities

Unfortunately, work and family commitments give employees little time to donate to worthwhile causes.

Providing paid time off for charity work aids and incentivises such activity — allowing individuals to support the causes they care about and build togetherness within your team.

22. Matched charity contributions

Workers value employers who strive to do good in the world. Working for a company that uses its position to make positive changes and help people in need is something employees are proud of.

Matching employee donations to charities of their choice is a simple way to show support for the causes your employees care about most.

23. Holistic services

Lower back pain is the most common work-related disability in workers under 45. So it’s easy to imagine how grateful your team would be to receive subsidies for massages or treatments with an osteopath or chiropractor.

24. Gym membership

Although gym memberships and fitness classes are considered ‘typical’ work benefits, they remain effective. Active employees are engaged and productive, so it’s up to you to ensure they have everything needed to stay healthy.

You can fund your employees’ efforts to be active in many ways:

Subsidised gym memberships.
Discounted fitness classes.
Sponsored sports teams.
Covering entry fees for sporting events.

25. Free breakfasts or lunches

Not having the time to prep lunches for work can often lead to many skipping breakfast and lunch. A stocked office kitchen with nutritious breakfast options and easy choices to conquer lunchtime hunger is a helpful work benefit for employees — especially with grocery prices rising worldwide.

Complimentary breakfast and lunch options keep your team fuelled and productive throughout the day — and it also supports socialising, which boosts company culture. And the easiest way to provide meals for your team is with Bolt Food.

Employees eating pizza from Bolt Food

26. Summer half-days

When the summer months roll in, Friday afternoons can be agonising for your team, who want to get outside and enjoy the sunshine. With workers being the least productive on Friday afternoons, everyone will look forward to an early finish on Fridays through summer — and it doesn’t necessarily mean sacrificing productivity levels!

27. Life Insurance and Income Protection

‘Group benefits’, such as life insurance and income protection, offer important protection to your employees — helping to give peace of mind to them and their dependants.

Paying for life insurance entitles your employee’s beneficiary to a payment in the event of death. Meanwhile, income protection ensures the employee gets a monthly income if they cannot work.

It’s worth noting that income protection comes with a pre-agreed waiting period — a timeframe that must pass before payments are made to employees.

28. Career development

Workers don’t want a job that will stagnate their professional development; they want a career that encourages them to learn new skills and improve. And when you invest in upskilling employees, you get a committed and highly-productive team.

Give employees time to attend tutorials and conferences, reimburse course fees, and provide plans for continuing further education.

Add Bolt Business to your employee benefits package

You now have plenty of employee benefit examples, but assembling a stellar lineup of employee benefits and work perks can still be challenging. To make things easier, Bolt Business is a single solution that ticks off multiple employee perks!

Through the Bolt app, employees can enjoy a monthly travel allowance for Bolt rides, car rentals, scooters and e-bikes. You can also allow your team to order food from the best local restaurants directly to the office and restock the kitchen with convenient grocery deliveries.

Get started with Bolt Business today to improve your employee benefits package.

28 employee benefits and work perks to increase retention

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