When the economy slows down, companies may be hesitant to enhance their salary offers to attract talent. It’s a good time to think about the benefits that complement an employee’s compensation! Here are 3 surprising initiatives that could gain popularity in the coming years.
1. Pet Leave
In 2022, the agency Talk Shop Media made headlines for adopting a “pawrental leave” policy for new pet parents.
“This will help [our employees] have time to adjust to their new responsibilities as pet owners, and let their new ‘fur babies’ settle into their new home.”
At the other end of the spectrum, the Spanish company Patitas & Co, specializing in pet food and products, chose to offer bereavement leave for the death of a pet.
More broadly, the HR Executive website identified pet-related benefits as the next HR trend to watch, referencing a Nationwide survey revealing that 32% of pet owners would be positively influenced by an employer who took the following initiatives:
- Pet insurance (40%)
- Leave to care for a pet (29%)
- A pet-friendly office (27%)
- Leave to welcome a new pet (14%)
2. Helping Employees Grow… in Their Personal Lives
Many companies have skills development programs designed to help their employees advance in their role or—at least—within the company. Some companies, however, detach the idea of development from its direct benefit to the organization.
The company Braindates, for example, is known for encouraging its employees to pursue a project through a “Personal Learning Quest.” Globocam took the concept in another direction by launching its “Life Dreams” program.
“This unique initiative allows 30 of our employees each year to fulfill a dream that is close to their heart, whether it’s a trip, an unforgettable experience, or simply an achievement related to personal well-being,” the website explains.
The program is not limited to financial assistance; employees who participate receive personalized internal support to develop their project.
3. Parking as a Reward
Determined to bring their employees back to the office, companies are thinking of ways to do so willingly. One avenue to explore would be to revisit the somewhat archaic concept of reserving the best parking spots for senior management.
Earlier this year, the site Coursera floated the idea of using the most coveted spots to reward top-performing employees. A simple idea that costs absolutely nothing to implement!
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