Monday, December 30, 2019
What egg freezing, learning stipends, and ClassPass all have in common
What egg freezing, learning stipends, and ClassPass all have in commonWhat egg freezing, learning stipends, and ClassPass all have in commonWith unemployment at historic lows and employees leaving their jobs or even ghosting them for greener pastures, companies are getting creative with perks to retain the employees they have and attract new ones. And with good reason cheaper than cash, they tend to provide that much sought-after work-life balance.But companies have been tailoring their perks towards specific groups of people its not just one-size-fits-all on-site gyms or even free meals anymora.1. Cherry lets startup employees choose their own perksInstead of handing out a standard perks package that only a few people use, Slackbot marketplace Cherry is letting employees take their pick of the benefits they get from their company, reports TechCrunch. Options arent standard try pricey workout subscriptions like ClassPass and Peloton, food delivery services like Postmates, and crea ture comforts like Netflix and Spotify Premium.CEO Gillian OBrien told TechCrunch that companies were wasting money and could save by just giving everyone this budget and letting them choose perks for themselves.Follow Ladders on FlipboardFollow Ladders magazines on Flipboard covering Happiness, Productivity, Job Satisfaction, Neuroscience, and more2. A select few employers will help you pay off your student loansIts a great perk if you work at the handful of companies that are offering loan repayment, says Fast Company. Unfortunately, only about 4% of companies do this. Other employers, however, offer cheaper, yet still helpful, options, like student loan consolidation and refinancing. According to a survey of 5,000 Millennials by LaSalle Network, what they want the most from their benefits package is direct financial help, either in the form of a 401k with a company match or student loan assistance.3. Learning stipends are a hot perk because they promote career growthMoney that yo u use to grow and learn is very attractive, reports Forbes. The more you know, the more it adds to your skill set and potential career growth. Always wanted to learn SEO? Wouldnt it be nice if your company paid for a course so you could add it to your resume or use it to help get a promotion?4. Companies fight to retain new moms with posh perksIf theyre not given support by their job, new mothers are in danger of dropping out of the workforce. Inc. reports that some companies have stepped up to back them to the max during that crucial time, with perks like breast milk shipping for moms on business travel. Qualcomm offers discounts on the teched-out Snoo crib that lets the infant and the mother sleep, and Patagonia offers paid travel for caregivers for mothers on business trips.5. Kindbody is a low-cost fertility startup offering egg freezing and IVF to companies who want to offer it as an employee perkFreezing your eggs typically costs $10,000, and the founders of Kindbodys missi on is to make it more affordable for both private individuals and the companies who use their egg freezing services as an employee benefit, according to Inc. Theyve got the cost down to $6,000 currently.Perks keep people happy and encourage work-life balance. In some cases, they may just be the tipping point on whether to stay or go. As companies know too well, losing people is expensive according to Harvard Business Review, replacing an employee who leaves costs about 21% of their annual pay.You might also enjoyNew neuroscience reveals 4 rituals that will make you happyStrangers know your social class in the first seven words you say, study finds10 lessons from Benjamin Franklins daily schedule that will double your productivityThe worst mistakes you can make in an interview, according to 12 CEOs10 habits of mentally strong people
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