Which Types Of Companies Offer The Best Employee Benefits
Organizations offer varying levels of employee benefits in line with their industry type and the following types of organizations offer the best benefits
Getting a dream job is not always just about the work itself as most employees are also looking for the extra employee benefits and perks they will receive in addition to their salary. These benefits can vary between each organization and are usually in addition to pay or salary. Most major organizations also offer the main extra benefits such as medical coverage, disability insurance, retirement plans and life insurance. Most of the organizations that make it to the “best places to work” lists usually have one thing in common, and that is a great employee benefits package. In some cases just receiving a paycheck each month is not enough to keep employees happy at their jobs. This is one of the main reasons large organizations always offer extra benefits, but also go onto give employees additional benefits. The additional benefits can range from onsite childcare to discounted movie tickets. More and more organizations are widening their offerings as they compete to keep their employee benefits packages more attractive than competitors or other industries. It is more beneficial to organizations to offer good benefits packages to retain employees than have to hire new employees to replace them. The cost of the new hire process far outweighs the cost of offering a few extra benefits to existing employees, but bean-counters can often not see the value proposition to this strategy.
Various Industries and the Employee Benefits That They Offer
Education Service Sector Employee Benefits
Employment in the educational service sector includes a wide range of jobs from teachers, teaching assistants, professors, administrators and librarians. Aside from the endless school vacation days that employees in the education sector get, they are also rewarded with many other perks and benefits. Employees get great health coverage, dental and retirement benefits and they often continue long after the employee has left the job. In most states where teachers enroll in the teachers retirement insurance programs they will continue to receive many of the employee benefits even after they retire as long as they worked for a minimum number of years.
Healthcare Employee Benefits
Employees in healthcare jobs have an advantage right from the start. Not only are they able to pick and choose from the best doctors available, they also have an insight into where the best services are provided. These employees have access to the best health, medical and dental insurance so any additional benefits are a real bonus. Healthcare organizations want to keep the employees happy as well as healthy, so they often offer a wide range of wellness employee benefits like discounted massages and spa days. Employees are also offered the opportunity to try herbal and holistic medicine to cure their ills.
Technology and Media Company Employee Benefits
With the rise in the number of tech companies and the expansion of media companies over the past few years, there has come a significant rise in the range of employee benefits offered to these employees. In order to create a more modern and relaxed work environment where the employees state of mind is key to the businesses success, companies are starting to offer a much more diverse set of employee benefits in this industry. Tech companies have been reported to offer additional benefits such as extended paternity leave for both male and female employees, paid time off, commuter benefits, onsite training facilities and even gyms and spas for wellness. Silicon Valley tech startups-ups also offer sleep booths, free gourmet food, pool tables and stock in the organization, making this path very compelling to potential employees.
Investment and Retail Banking Employee Benefits
The banking industry is another place of employment that offers a wide range of employee perks in addition to the usual three. As banking firms are highly regulated and have large teams of people to deal with financial operations, they are able to provide a safe and rewarding place to work. Most banks will offer FSA, HSA, child care reimbursements, annual paid time off and 401k in addition to the standard health, retirement and dental benefits package.
Retail Industry Employee Benefits
The retail industry is made up of many low-paid, part-time employees and this industry very rarely provides a decent employee benefits package above the state and federal minimums. In this industry, employees are constantly in transition, moving from one job to another, and it is simply too expensive for the employer to offer a wide range of decent benefits. The most common compensation other than pay in the retail industry is discounted prices on merchandise and access to special clearance sales that are not available to the general public. Any health, dental, retirement or 401k benefit that might be offered is usually only available to long term employees who are higher up in the larger companies.
Construction Industry Employee Benefits
Employees in the construction industries are among the lowest compensated employees. Even though the work that they do can be among the most dangerous jobs, they are rarely rewarded for it. In many cases, construction workers work for small companies or are self employed so employee benefits are not that at the top of the list of priorities. However, this is beginning to change, as technology begins to take over, many of the skilled construction workers are seeking new opportunities so in order for larger construction companies to maintain a skilled work pool, they are beginning to think about the employee benefits that are offered are rolling them out.