Salary benefits are something that is often underestimated by employers. With the right strategy and set-up, salary benefits can be used both to motivate employees and to attract new talent to the company. But what exactly is a good salary benefit? It goes without saying that a more senior employee approaching retirement age has a completely different life situation than an employee with small children at home – so how do you get salary benefits to suit employees regardless of their (work)life situation? There are a few things to keep in mind when deciding what benefits a company should offer. Which salary benefits are most popular naturally depends on the industry, geographical location and the employees’ personal needs and wishes. Having said that, there are a number of salary benefits that are appreciated by many. Here are some of the most popular salary benefits in 2023:
The immensely popular wellness allowance will probably always hold first place when it comes to salary benefits. From gym memberships, spinning sessions and yoga sessions, to massages and everything in between. The wellness allowance is extremely versatile and can be advantageously offered as a very good alternative where there is something to suit everyone.
Although this type of wellness allowance has been around for a long time, why not try something new: letting employees exercise during working hours? It can be an effective way to get both healthier employees and attract new talent.
Extra vacation days
There are probably many who would accept this benefit. Regardless of how well we enjoy our jobs, most people appreciate the possibility of increased time off.
Two or four wheels? Benefit car and benefit bike
Car as a benefit is another popular salary benefit and employers who offer a car benefit to their employees provide more benefits than the car benefit itself. Instead of owning your own car, which involves additional costs in the form of fuel and insurance, a discount car is a good alternative.
If a benefit car is not suitable, then the benefit cycle as a salary benefit has increased significantly in recent years. And today, companies can offer employees preferential bicycles at really good prices.
Flexible working hours
Many employees appreciate the possibility of having flexible working hours, which facilitates the life puzzle and makes it easier to combine work and private life. Being able to flex your working hours is a popular salary benefit for many.
Remote work and home office
WFH (work-from-home) has become a really sought after benefit after the pandemic and the demand continues to increase. Many employers already offer the option of remote work and if you don’t already, it might be worth looking into. Today, hybrid work has become a watershed for many talents looking for their next employer.
Cleaning help, grocery bags, babysitting on conference trips and homework help are just a few examples of benefits that are appreciated by employees. Sometimes that extra help in everyday life can be a very valuable relief.
Company health care
In contrast to regular health care, company health care is something that is hired by employers to give their employees access to experts in areas such as work environment and ergonomics. Company health care is a really good tool for preventing work injuries, stress and burnout at work.
Insurance such as life insurance has become an increasingly desirable salary benefit among job seekers. Insurance is often included in a package solution with an occupational pension.
Financial benefits for the future
There are salary benefits that can have a really big impact on employees’ future. Many employers today offer their employees an occupational pension, which means an “extra” pension in addition to the general pension. The classic pension plan remains one of the most sought-after salary benefits and whether or not a job offer includes an occupational pension can be a deal breaker for new talent.
Another attractive pension benefit is salary commutation, which means offering to match pension savings. With pension provisions, the employer contribution is reduced, which makes it possible for the employer to match the employee’s amount with a percentage. In practical terms, salary commutation takes place in such a way that you, as an employee, exchange part of your gross salary (the salary before tax) for a pension. You then pay no income tax on the amount you want to save for pension, but instead pay the tax in the future when you withdraw your pension. For the vast majority, this tax will be lower than paying income tax today.
Good salary benefits = time consuming and a lot of paperwork? False!
If it seems time-consuming to negotiate several different services before the wellness allowance, the solution is wellness package! A wide range of pre-purchased offers at the sharpened price is a valued option. We all know the value of having an active lifestyle and the wellness allowance can be used both to boost physical and mental health. Remember, healthy employees are happy and engaged employees.
Here we have collected the most common questions we usually get at Benefits.