30+ Employee Benefits to Increase Staff Retention

Yo, bosses! Trying to keep your employees happy and motivated in this crazy economy? Mad respect! It’s like trying to juggle flaming torches while riding a unicycle – a serious challenge. 

With inflation soaring higher than your TikTok views, your employees are probably feeling the pinch. And while a fat pay raise would be awesome, it’s not always possible for businesses to shell out the big bucks.

But don’t worry, fam, there are plenty of other ways to show your employees some love and keep them from jumping ship. Think of it as creating a workplace that’s so awesome, nobody would ever want to leave. It’s like building the ultimate friend group – you want everyone to feel valued, appreciated, and excited to be part of the crew. 

So, let’s dive into 50+ epic employee perks that will boost morale, increase retention, and make your workplace the place to be:

Flexible Working: Because Nobody Likes a 9-to-5 Grind

• WFH (Work From Home): Let your employees ditch the commute and work from their couch (or bed, we’re not judging). It’s a win-win – they save time and money, and you get a happier, more productive team.
• Flexi-Hours: Give your employees the freedom to choose their own hours. Maybe they’re early birds, maybe they’re night owls – let them work when they’re most productive. 
• Four-Day Work Week: Give your employees an extra day to recharge and pursue their passions. It’s a great way to boost morale and prevent burnout.

In-Office Perks: Make the Workplace a Vibe

• Free Food: Who doesn’t love free food? Provide snacks, drinks, or even full meals to keep your employees fueled and happy. Think of it as a workplace buffet – everyone wins! 
• Modern Office Space: Create a workspace that’s both functional and stylish. Think comfy chairs, natural light, and maybe even a ping pong table. It’s like upgrading your bedroom from basic to boujee. 
• Sports and Social Clubs: Encourage team bonding and healthy competition with sports and social clubs. From basketball to book clubs, there’s something for everyone. 

Subsidized Travel: Save Money on the Commute

• Claiming Fuel Costs: Help your employees save money on their commute by allowing them to claim fuel costs for business travel. It’s a small gesture that can make a big difference. 
• Cycle to Work Scheme: Encourage your employees to get fit and save the planet with a cycle to work scheme. They can get a new bike and pay for it through their salary, saving money on taxes and transportation costs. 

Holiday and Leave: Time to Recharge and Relax

• Unlimited Annual Leave: Give your employees the freedom to take as much vacation time as they need. It’s a bold move, but it shows that you trust your team and value their well-being. 
• In-Person Retreats: Treat your employees to a company retreat, where they can bond, brainstorm, and have some fun. Think of it as a workation – a chance to work and play in a new environment. 

Social Events: Build a Strong Team Bond

• Regular Socials: Organize regular social events, from happy hours to team-building activities. It’s a great way to foster camaraderie and create a positive work environment. 
• Company Parties: Celebrate milestones and achievements with epic company parties. Think of it as your company’s own mini-festival – a chance to let loose and have some fun. 

Parent and Carer Support: Because Family Matters

• Generous Parental Leave: Offer more than the statutory minimum for parental leave, showing your employees that you support their growing families. 
• Flexible Working for Carers: Provide flexible working arrangements for employees with caring responsibilities, making it easier for them to balance work and family life.

Insurance Policies: Peace of Mind for Your Team

• Private Medical Insurance: Help your employees skip those long NHS waiting lists and get the medical care they need. 
• Life Insurance and Income Protection: Provide financial security for your employees and their families in case of unexpected events.

Pension Plans: Secure Their Future

• Phased Retirement: Allow older employees to gradually reduce their hours while still receiving some of their pension benefits. 
• Defined Benefit Schemes: Offer a guaranteed pension income based on salary and years of service, providing a sense of security for your employees’ retirement.

Monetized Incentives: Show Them the Money!

• Staff Discounts: Offer discounts on your company’s products or services, helping your employees save money and feel appreciated. 
• Commissions and Bonuses: Reward your employees for their hard work and achievements with commissions and bonuses. 
• Share Schemes: Give your employees a stake in the company’s success with share schemes, aligning their interests with the company’s goals.

Training and Development: Invest in Their Growth

• Professional Development Workshops: Provide opportunities for your employees to learn new skills and advance their careers. 
• Onboarding and Orientation: Make sure new employees feel welcome and supported with a comprehensive onboarding and orientation program.

Technology and Equipment: Give Them the Tools to Succeed

• Provide Top-Notch Tech: Equip your employees with the latest technology and equipment, making their work easier and more efficient. 
• Fast and Reliable Internet: Don’t let slow internet speeds hinder productivity. Invest in a reliable internet connection for your office (and for remote workers).

Other Perks and Benefits: Think Outside the Box

• Third-Party Advice: Offer access to financial or legal advice through third-party providers, helping your employees navigate life’s challenges.
• Flexible Benefits Programs: Allow employees to customize their benefits package to fit their individual needs and preferences.

How Much Will This Cost? 

The cost of employee benefits can vary depending on the size of your company, the types of benefits you offer, and the level of coverage you provide. But remember, investing in your employees is an investment in your business. Happy and motivated employees are more productive, engaged, and loyal, which ultimately benefits your bottom line.

Noteworthy Employee Benefits Offered by UK Businesses

• Living Wage: Many companies are now paying their employees a living wage, ensuring they can afford a decent standard of living.
• Enhanced Family Leave: Some companies are offering more generous parental leave policies, including extended paternity leave and shared parental leave.
• Virtual GP Services: With the NHS facing challenges, some companies are providing virtual GP services to their employees, making it easier for them to access healthcare.
• Compassionate Leave: Some companies are offering extended compassionate leave for employees who are dealing with the death or serious illness of a loved one.
• Age-Friendly Policies: Some companies are implementing age-friendly policies to support older workers and promote age diversity in the workplace.
• Period Policies: Some companies are introducing period policies to support employees who experience menstrual difficulties.
• Nursery Discounts: Some companies are offering discounts on childcare to help working parents.

By offering a combination of these awesome perks, you can create a workplace that’s not only fun and engaging but also supportive and rewarding. So, go forth and create a company culture that slays!