How the world’s biggest companies make their benefits packages standout from the crowd
Their success is built on their talented employees and their ability to attract top talent fuels their success. As companies at the top of their game, they’re under constant pressure to attract and retain the biggest talent in their industry.
So, what perks and benefits do they offer and what can we learn?
Apple
Apple’s benefits include private healthcare insurance, a private pension plan and life assurance that pays out four times the employee’s annual salary to a beneficiary of their choice. They offer discounts on their products for employees and their family members. Apple also reportedly offer $300 (£230) of gym credit as part of their fitness and wellness programme.
While they don’t offer free food on their campus like many tech companies do, food is free for employees asked to work nights or weekends. And of course, the apples are free. Apple also offer discounts on public transport and cycle to work schemes to help cover the cost of commuting for employees.
Potentially the biggest draw for new employees is the beer bash concerts exclusively for employees. Employees get to see big music acts perform and get access to free beer and appetisers.
Amazon
Amazon offer employees a variety of support. For employees who work more than 20 hours per week, Amazon offer funding towards medical insurance as well as dental and vision insurance with premiums paid in full.
They also offer an Employee Assistance Programme which provides employees with 24/7 confidential support for multiple aspects of work and life. There’s also financial counselling and online assistance with children’s developmental disabilities. One of the most attractive benefits is their tuition reimbursement.
Amazon prepays 95 per cent of tuition for courses related to in-demand professions such as medical technicians, paralegals and robotics engineers.
It’s no secret that Google is one of the most desirable companies to work for in the world. A lot of that is down to the benefits and perks on offer to Google employees. Not only do they get every meal at work free, employees can also take free cooking classes with their colleagues.
They also offer Google Talks with celebrity speakers making regular appearances. Google has onsite gyms and free workout classes available to employees. They also offer a free shuttle bus to help employees get to work every day.
Facebook is officially the most desirable place to work in the US according to Glassdoor. When you see what perks and benefits they offer, it’s easy to see why. Like many other tech companies in the US, they offer free meals and snacks throughout the day.
They also offer numerous onsite services such as a barber shop, dry cleaning and health and dental care. Like many of the big companies, they also offer a discounted gym membership. One of the standout perks on offer is the $4,000 (£3,100) in ‘Baby Cash’ for employees who are new parents, along with financial assistance with adoption fees.
AirBnb
AirBnB offer a host of benefits relating to health and wellbeing. They offer benefits with dental, vision and temporary and long-term disability insurance. They also contribute towards health insurance premiums for employees.
AirBnB employees also get breakfast, lunch and dinner free. The standout perk is the $2,000 (£1,500) travel coupon employees get each year for use at AirBnB listings around the world.
What can we learn?
Many of the big brands focus on health and wellbeing with their employee benefits package. With financial help with insurance, discounted gym memberships and healthy food on offer, helping employees with their health and wellbeing appears to be the standard.
In other words, these are things that most companies should offer. Potential new employees may not even consider companies that don’t offer some form of health and wellbeing benefits package.
Another thing that these companies have in common is the convenience they provide to employees with everyday matters. Whether it’s the commute to work or the dry cleaning, each company offers ways to make their employees’ life easier. Of course, not all companies can afford to provide a free shuttle bus or an onsite barber shop, however simple things that can help provide some convenience to employees can go a long way.
One thing that all these companies have in common is that they offer at least one standout perk or benefit. Whether it’s Amazon’s tuition fee reimbursement or AirBnB’s travel coupon, each company has something that sets it apart from the rest. AirBnB’s offering really sets it apart, as it’s unique to them and their product offering.
For companies looking to really set their employee benefits offering apart, they need to look at their own product or service offering and find a way to make it benefit their employees.
This article was provided by Caboodle.
In partnership with Caboodle
Caboodle is one of the UK's leading employee benefits companies.
