Ive seen my fair share of company benefits after 10+ years recruiting for tech companies.Tech Startups in San Francisco are known for having extensive benefits from daily lunchesto paid gym memberships or free monthly massages. Before I share some of the coolest benefits Ive come across, I have a word of advice for new companies
Ive learned from experience working withsmall startupsand fromfounding Bettsthat benefits can become a tricky subject.
When you are deciding which benefits to offer, keep in mind that as a company scales, the cost of benefits will increase too.Covering the cost of gym memberships for10 employees becomes a drastically different cost when your team grows to 100.
Also, be sure to think through the benefits you are offering. Asfun as Summer Fridays sound, theycan set your team up for a rough wake-up call come fall.
Looking for some benefit inspiration? These tech companies go above and beyond.
Weve heard of companies paying for their gym membership. Weve seen Instagrams of a friends team working at a food bank for an annualvolunteering day. But having a $100 Wellness Credit to spend on whicheverself-care tacticfeels most personally effective? Now thats interesting.
SalesforceIQ knows that people have different ways of relaxing, whether its a round of golf, a Zumba class at the gym, or hiking in the National Parks.SalesforceIQtakes a similar approach to their volunteering program, and letsemployees pick the cause theyd like to spend their time on.
They offer6 paid volunteering days annually, and a monthly $100 stipend for wellness. Though Idobelievethat spending a day volunteeringor running a 5kcan be a great team building activity, being able to choose the specifics within a broader benefitis a great way to ensureindividual satisfaction.
2.Need a day? Take a day.
Have you heard of unlimited PTO?Its atrend in benefitsthatsbecoming increasingly popular in the benefits suiteoffered bytech companies.
Atlassians versionis calledVacay Your Way.Instead of watching your hours painstakingly accrue, unlimited PTO plans allow employees take time off when they need it.The theory behind thisis that life happens, and usually not at the exact time you have accrued the perfect amount of PTO.
If you need to take time off to care for family, recover from an injury, or just plain need a mental health day, these plans allow for that. The expectation is that work will be handled appropriately before taking an extended vacation, but it truly is the kind of benefit that treats employees as the responsible adults they are ( or should be!).
Though insurance may notseem like the most exciting benefit, having extensive coverage can be a literal lifesaver.
Indeed offers emergency insurance that sendsanairambulance anywhere in the world.While its not something you would necessarily plan for, having a speedy pick-up afterfalling on a hike in the Australian Outback couldabsolutelybe a lifesaver.
Want to have children, but not quite ready yet?Google, LinkedIn, Intel, Spotify, Facebook, Microsoft, Amazon and Wayfair areall reportedto offer fully paid coverage for IVF andmost even offeregg freezing.The initial processfor egg-freezingcan cost upwards of $10k, withan annual storage fee of $800, and one IVF round can go for around $15,000.
While the ideasounds great to empower womens choices about having children, a scrappy start up may want to think twice before offering this as it would be extremely costly to scale.
4.The list goes on and on!
Imagine working in an office with a Zen room for meditating and receiving complimentary massages. What if I told you that same company would also send you to one conference of your choice annually, and keep your bookshelf stocked with the help of Amazon book gift cards?Not to mention the onsite OctoDojo gymGithubs benefit suitetruly does goabove and beyond.
Perhaps one of the more creative benefits Ive seen,YMediarecentlyannounced thatit rented ahomein Hawaiiindefinitelyforallemployees to use.
With 10 bedrooms, and similar homes going for $10k a week on Airbnb, this beach house seems like a luxurious getaway. Every employee, no matter their title or length of tenure at Y Media, can book a week vacation there.Talk about vacation envy!
Having major FOMO?
Glamorous trips and company Zen gardens aside,not all benefits have to be encrusted in gold to feel plentiful.
Some of the best perks turn out to be relatively inexpensive. Recently at Betts Recruiting, we had a beer pong tournament to celebratethe team crushingtheir quotasatthe end of the quarter.The officeended up hustlingmore foraBP tournament thanforaSpiff with awesome seats at aChance the Rapper concert!
Having random partners and a bracketon a whiteboardturned out to be the perfectway for people to get to know each other better, and definitely raised some healthy competition.
Carolyn Betts Fleming is the Founder and CEO of Betts Recruiting, the leading global recruitment firm specializing in matching revenue-generating talent with the worlds most innovative companies.