When considering a new job, it’s easy to let a high salary range sway your decision. But the labor shortage has tipped the scales in workers’ favor, prompting many employers to come up with unique employee benefits to attract top talent.
An impressive paycheck might still be the driving force to decline or accept a job offer, and that’s perfectly normal. But if you’re trying to choose between multiple offers or can’t decide if an open role is worth applying for, looking at a company’s employee value proposition and benefits can make the decision easier.
Good benefits might even be the difference between feeling burned out at a new job and achieving the work-life balance you’ve been seeking. From unlimited PTO to paid lunches, here’s a guide to employee benefits with unique options to watch for.
What are employee benefits?
Any perks included in a compensation plan beyond wages or salaries are employee benefits, sometimes known as fringe benefits. These can vary widely between employers and include anything from retirement plans to team bonding trips, though some are more common than others.
Well-rounded compensation plans help employers because they can boost productivity and company loyalty. But the reasons why employee benefits are important are far more meaningful, with many of the most traditional perks playing an essential role in your overall health and well-being.
Traditional employee benefits
Pension plans have become less common than they were in the 1970s. But as traditions change, other benefits replace them, and there are certain types you might have come to expect from a permanent employer. Some of the most common employee benefits include:
Health insurance coverage
The Affordable Care Act (ACA) only requires companies with 50 or more full-time employees to offer employer-sponsored insurance, so offering health coverage as a part-time employee benefit is up to the employer, regardless of size.
Still, many large and small companies know prioritizing employee health helps with productivity, hiring, and retention. Private health insurance and employer-supported programs are common traditional benefits.
Retirement plans
Whether it’s a defined benefit (DB) pension or a defined contribution (DC) pension, the latter of which is more common today, many employers offer a workplace retirement plan. This is most often a 403b or 401k match program, where employers help contribute to your savings.
Paid time off
The US has no federal law requiring companies to offer paid leave, and 28 million American workers receive no holiday or vacation pay. But any employer who wants to remain competitive offers some form of paid time off (PTO), and many even offer unlimited PTO.
But as good as taking all the time off you want may sound, unlimited PTO does come with some downsides. If you only have a certain amount of vacation days or weeks, you might get a payout for unused time, but that doesn’t apply to unlimited programs.
Non-traditional (but common) employee benefits
Some non-traditional benefits have become common enough that they don’t sound as remarkable as they first did. But here are some of the perks you might find in a modern workplace:
Remote or hybrid work
According to a Pew Research Center survey from spring 2023, 35% of Americans who could do their jobs remotely were working from home full-time, while 63% reported working on a hybrid schedule.
These numbers may sound high, but many employers, including high-profile companies like Lyft, pushed employees to return to the office in early 2023.
With 68% of remote employees claiming they’d rather look for a new job than go back in person, many job seekers still consider work-from-home policies a major perk. It can reduce commuting time, remove distractions, and give you more opportunities to run errands or spend time with family.
Mental health support
In the US, 57.8 million people live with a mental illness. Many employers have begun offering benefits like employee assistance programs and wellness coaching to help employees find happiness and deal with the effects of workplace stress. You might also have the option to go on stress leave to decompress and heal when things get tough.
Parental leave
New parents in nearly 200 countries receive government-mandated paid maternity leave. The US isn’t one of them, but competitive maternity leave policies are still available at some companies. And while paternity leave in the US isn’t as prevalent, it’s an attractive benefit for parents-to-be.
Everything’s negotiable, including benefits
When a job offer comes in, you can include benefits in your negotiation strategy. Asking for what you want is a business skill, so employers may respect you more for showing that you know your worth. And 85% of Americans who counter an initial offer get at least some of what they asked for.
Maybe the job is almost perfect, but you’re a working parent who needs to start the workday later than the rest of your colleagues. Maybe you want to work from home, but the company says it needs you in the office.
If you think you’d love the job but feel one little thing is missing from the package, try stretching your negotiation skills and asking whether your employer is willing to offer more. Some of the most commonly negotiated employee benefits include:
Remember: you don’t need to feel guilty for starting a conversation about benefits. The worst that can happen is a “no.” In an interview, the company may ask, “Why should we hire you?” but you’re interviewing the company, too. And the benefits offered are a big part of the equation.
Benefits beyond the compensation package
The benefits you’ll find in a job posting or employee handbook can help you get a feel for what an employer offers. But if you really want to find a job you love, there are a few things to consider beyond employee perks.
Good company culture
A high salary, or even good benefits, won’t prevent a toxic work environment from taking a toll on your body and mind. Before accepting a job offer, try to get a feel for the personalities and expectations to avoid potential workplace stressors.
And if your current job has you feeling overworked, underappreciated, or lacking respect in the workplace, that’s a good reason to consider looking for a new role.
Strong company culture doesn’t just rely on ping-pong tables and free kombucha to counteract a bad workplace environment. It’s a place where employees don’t have to work to protect their energy and where everyone feels valued, no matter where they fall in the organizational structure.
Profits benefit everyone
Bonuses aren’t unusual for certain types of jobs, like sales. But some employers incentivize strong work performance by sharing the wealth with the whole team when the company does well.
One option is a profit-sharing plan, which benefits both employees and employers. When the company’s profits are high, they share a percentage with workers, boosting employee pay or retirement funds without committing to unsustainably high salaries.
Employee-owned companies (EOC) also incentivize hard work. This ownership often comes in the form of employee stock options or an employee stock ownership plan (ESOP). And in the case of worker cooperatives, another employee-owned business model, employees own 100% of the company.
Room for growth
When you think about what you want from a new job, it’s important to consider how you define success. Is a high salary and attractive benefits package enough to tolerate being bored at work or staying in a dead-end job? Or do you want to grow and progress in your career?
If upward mobility matters to you, consider a prospective employer’s professional development opportunities. Many companies have support systems in place to help you become a manager or take on more responsibility. And some will offer flexible schedules and even tuition assistance to help you go to graduate school.
30 of the best unique employee benefits
If you’re hoping to find a job you love, don’t just look at the pay scale. Look at the full-time or part-time benefits you’d have and ask yourself how they would help you practice self-care, achieve work-life balance, and enjoy life both on and off the clock.
Here are some of the innovative employee perks you might come across on your job search:
Health and wellness benefits
- Free online therapy sessions
- Gym memberships
- Perks for those who bike or walk to work
- Career coaching
- Standing desks or under-desk foot pedalers
On-site services
- Massage therapy
- Nap pods
- Doggy daycare
- Free lunches
- Fitness centers
Remote work support
- Coworking space stipends
- Home office stipends
- Internet stipends
- Lunch delivery
- Monthly house cleaning
Personal and career growth opportunities
- Tuition reimbursement
- Student loan repayment
- Volunteer days
- Professional development stipends
- Financial wellness training
Family-friendly benefits
- On-site childcare
- Pet insurance
- Family planning assistance
- Unlimited paid parental leave
- College assistance for dependents
Work-life balance
- Flexible work hours
- Mandatory PTO
- Paid sabbatical
- Weekly half-days
- Unlimited vacation time
Your career plays a huge role in your happiness
Whether you’re trying to decide to stay in your current role or find a new one, it’s important to consider what a job can give you beyond a paycheck. Not every company offers unique employee benefits, and finding ones that suit you can improve your whole life — not just at work.
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