A new study by digital business publication FitSmallBusiness reveals that small and large companies across the country are offering new and imaginative employee perks to attract and retain talent in a jobseeker’s market.
A key motivator behind free beer on-site, spa services like massages, and even all-expenses-paid international company retreats is a growing recognition among employers that the long-term costs of constantly losing employees and recruiting and training new ones outweighs the cost of a few creative perks that help retain top talent.
According to the report, the current job-hopping culture costs the U.S. economy $30.5 billion per year, and companies spend an average cost of $4,100 per new hire in training.
"A lot of companies believe they won't attract the best employees with just standard benefits packages and perks like free coffee," said FitSmallBusiness Editor-in-Chief Eric Noe in a statement.
"To stay competitive, they're offering creative perks employees can use right now—from simple fun things like time off for new pet owners, to bigger picture benefits that support health and wellness.
“They figure spending extra on these up-front perks will save them money by keeping staff happy and reducing turnover."
The Latest in Employee Perks
FitSmallBusiness assessed data from a variety of sources such as Glassdoor and Angel.co and determined which perks are growing in popularity.
Here is their list of the 15 coolest emerging employee perks for 2019:
- "Pawternity"—time off to raise your little fur ball
- Egg freezing and fertility treatments
- Life coaching and counseling services
- International retreats—company bonding time
- Free beer on-site
- Spa and wellness services
- Nap rooms
- Elder care—assistance with aging parents
- Required time off
- Service sabbatical—helping others on the company dime
- Pet bereavement policies
- Farmers' markets—markets come to your office
- Weather-based flextime
- Wedding leave
- Pet health insurance