92% of employees say that benefits are vital to the overall satisfaction they feel at work and 78% of employees say they would stay with a company because they liked their benefits. 

When employers offer competitive and innovative benefits, their employees are more likely to stay with the company long term. Providing a good benefits package shows employees that you care about their overall well-being and prioritize their health.  

Here are some benefits to consider offering to help increase retention 

Flexibility  

Employees want flexibility, whether that means flexible start/end times, paid breaks, and the ability to leave the office for personal matters.  

94% of workers say they want flexibility in when they work, and 80% say they want flexibility in where they work. According to these studies, it is clear that employees value flexibility. Here are some ways to implement flexibility in the workplace 

  • Allow employees to leave early or come in late.  
  • Offer paid breaks. 
  • Encourage employees to spend time in casual conversation with their coworkers.  
  • Provide more part-time job opportunities. 
  • Allow employees to work remote/hybrid.  
  • Do not encourage employees to answer work related phone calls or emails during their vacation/ sick days. 

Finding various ways to implement flexibility in the workplace can help you retain your employees.   

Career development  

Employees will feel more engaged when their employers are invested in their career growth. Employers can offer development programs such as mentorships and internships to help employees succeed in their long-term work goals. Offering these types of programs can also help build healthy relationships among employees.   

Mental health and wellness programs  

According to Forbes, nearly all employees want mental health and wellness benefits. 92% of employees said it was important for their company to value mental health programs to help the psychological well-being of their employees.  

Offering mental health programs can help promote positive mental well-being which will increase productivity and overall employee satisfaction.  

Unlimited paid time off (PTO) 

Unlimited PTO is growing in popularity, and many employees look for it in benefits packages. When employers choose not to put a limit on vacation days, sick days, or mental health days, it enhances work-life balance for employees and creates a greater sense of trust and accountability in the workplace. If unlimited PTO doesn’t work for your company or industry, make sure you are offering enough paid time off for employees to feel like they can be away if they are sick or have a medical/personal appointment and still have time left for a vacation.   

One powerful employee retention strategy is to offer benefits that employees actually want. Offering competitive benefits will help employees stay motivated to work hard and stay with your company long-term.