10 best employee benefits for 2023
What are the most popular employee benefits, and why? We’ve done a deep dive to find out.
March 28, 2023
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What are the most popular employee benefits, and why? We’ve done a deep dive to find out.
When we set out to create Jobs For Good, we knew we wanted to verify companies not only by the positive impact they make through their business model, but also how they treat their employees. This covers everything from diversity and inclusion policies to the types of benefits they offer.
As we mentioned in our blog post on what employees want most, only 41% of UK workers feel satisfied with their benefits!
That means there’s massive room for improvement, but what are the most popular perks, and why? We’ve done a deep dive to find out.
Flexibility in the workplace is more in demand than ever before, with the number of searches for flexible jobs almost tripling between December 2022 and January 2023.
Flexible working covers:
Most of our Companies For Good offer some kind of flexibility, like On Purpose who offer flexible working hours. Want to offer more flexibility but not sure how to get started? Check out global HR platforms like Teamed and Deel.
The latest cultural shift? The four-day work week.
With the recent trials proving to be a success, requests for four-day work weeks are predicted to come ‘flooding in’, with seven in 10 workers surveyed saying they plan to ask their employer to embrace the initiative.
And it’s easy to see why, 78% of employees are happier and less stressed under a four-day week. Plus, 63% of businesses found it easier to attract and retain talent. Sounds like a win-win to us.
Driftime Media, which is currently hiring, offers a four-day work week!
Another benefit that’s become increasingly sought-after is more generous parental leave. The number of job ads that mention enhanced parental leave doubled between 2021 and 2022.
Rather than offering the standard statutory package, many companies are now offering enhanced leave to help new parents adjust.
Here’s a great example from allplants:
Around one in four pregnancies in the UK end in loss. But in the UK, employees (and their partners) who lose a baby before the end of the 24th week of pregnancy have no statutory right to take leave.
The Miscarriage Association is backing a bill brought to Parliament last year that proposes the UK passes regulations similar to the miscarriage leave enacted in New Zealand in 2021.
In the meantime, some businesses, like allplants, are taking steps to offer this leave themselves.
In a LinkedIn survey, 45% of people said they left their old jobs due to concerns over lack of advancement opportunities. So, it’s super important to keep offering employees training opportunities to keep them engaged and motivated.
Platforms like Sunlight allow you to set a monthly or yearly budget for your team members so they can book courses for themselves at any time. It’s what we use ourselves here at Jobs For Good!
Here are some more examples from our Companies For Good:
59% of workers say they would consider taking a job with a company that offers better well-being benefits than their current employer.
Wellbeing support has grown massively in recent years, with mental health support providers like Oliva, Spill, and Unmind leading the charge.
Therapy isn’t the only wellbeing benefit on offer. Companies are also offering:
Employers have to pay at least 3% into their employees pensions, but 58% of UK employees want higher contributions from their employer.
Many companies offer higher contributions, including lots of our Companies For Good, like:
With one in three employees wanting health insurance as part of their benefits package, it’s still one of the most sought-after perks.
Many of our Companies For Good offer private health insurance, like Third Space Learning, Pledge, Big Society Capital - and lots more!
Some of the most popular providers are:
Some companies also include private dental insurance under this policy too!
Several studies have shown that office dogs offer social support, are able to reduce stress, increase cognitive abilities and social interaction and counteract depression and anxiety in people.
As well as having our very own Dogs For Good (Koda, Winnie, and Pepper), our Companies For Good have plenty of office dogs! Businesses like Urban Jungle, RheEnergise, and The Modern Milkman all have dog friendly offices.
As well as taking a nice break from the ‘business as usual’ routine, team trips boost moral, helps boost team bonding and builds trust.
These trips can include:
One of the most exciting benefits we’ve seen in this category is Lemonaid & Charitea’s project trips. They take their teams to the growing regions of their ingredients and project partners in Sri Lanka, India, South Africa, Mexico or Peru.
If you’re reworking your employee benefits and aren’t sure where to get started, check out platforms like Ben, Juno, and Sunlight. These employee benefits platforms give employees the opportunity to choose the benefits they want and build their own package. This is a great option for startups with a more limited budget, or if you want to make your benefits as flexible as possible!
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