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Stand Out From the Crowd: Non-Standard Benefits Attract More (and Better) Candidates

Even though the economy and job market are tight right now, employers need to keep in mind that things can easily change. You may feel like they have the upper hand when it comes to recruiting, but soon the shoe may be on the other foot. And when job seekers are not knocking down your doors to get in, employers will need something special to entice quality job seekers to come work for them.
That may mean that along with the standard benefit package of health insurance, paid vacation and holidays, and a savings plan employers will need to begin considering what other optional benefits they can add to sweeten the pot.
Second-Tier Benefits for Employers to Consider
After the traditional or first-tier benefits that most employers offer, there are a whole range of other possibilities that companies can consider. While these may be common among many large and some medium-sized firms, smaller, owner-run companies don't always have the budget.
However, if you are considering adding some additional perks to the package, here are ten of the most popular second-tier benefit programs (listed alphabetically).
- Employee Assistance Program (EAP): Assists employees with lifestyle or personal problems that may affect their work productivity.
- Employee Discounts: Some organizations have their own logo products available for sale, while others firms offer employees a discount (think retail, health care services or consumer products manufacturing).
- Employee Referral Program: When a new hire has been referred to the company by a current employee and successfully completes a set amount of service with the employer (usually six months), the referring employee receives a financial reward.
- Flexible Spending Account (FSA): Allows an employee to set aside a portion of his or her earnings to pay for qualified expenses as established by the company and law (usually medical expenses or dependent care). Money deducted from an employee's pay into an FSA is not subject to payroll taxes.
- Flex Time: Whether employees get the opportunity to work four ten-hour days a week or another alternative work schedule, flex time is becoming more popular with employers of all sizes. According to a 2009 Careerbuilder survey, 70 percent of employers plan to offer this benefit.
- Gym Membership: As more and more organizations proactively focus on employee health and welfare, health club memberships, discounts, or other type of rewards for maintaining good health have become very popular.
- Profit Sharing: Providing employees with a bonus based on company's profits is an organization's way of thanking employees for their contribution to the success of the organization.
- Rideshare Program: Some organizations offer assistance to employees who choose to find alternative ways of getting to work rather than driving alone.
- Teleworking: Sometimes referred to as telecommuting, allowing employees to complete some of their work at home one or more days per week.
- Tuition Reimbursement: This program subsidizes an employee's higher education by paying for certain costs associated with successfully attending an accredited college or university to gain education related to their work.
The Best of the Rest Benefits
Probably one of the best known companies with benefits that are off the chart and listed as Fortune's No. 1 best company to work for is Google. This firm offers a myriad of additional perks, not to mention one of the greatest benefits: a positive work environment.
Along with things such as food, parties, a credit union, on-site dry cleaning and car washing, massage therapy, and an outdoor volleyball court, Google offers many more perks; too many to mention. If you want to read about all of them, you can visit the Google benefit page.
In the meantime, here are five special benefits offered by a variety of employers, including some from Google.
- Community Service: Good citizenship is moving to the forefront and one of the ways that employers are stepping up their game is by developing programs that provide employees time off to volunteer.
- Dependent Care: Sometimes referred to as "backup baby care". For employees who have dependent children or aging family members, dependent care offers assistance by providing discounted and/or emergency care services.
- Hybrid Car Subsidy: Want to reward employees who embrace sustainability? Consider offering a financial incentive to any employee who buys a new hybrid vehicle. (Employees at Timberland get $3,000)
- Insurance Programs: No, not the usual plans that most employers already offer, but for other things, such as home, auto or long-term care.
- Pets at Work: Of course, there is always Bring Your Dog to Work Day; however, some firms allow employees to bring their dogs to work every day.
The idea is that benefits don't have to be just about health insurance and vacation any more. With a little creativity and thought, employers are designing benefit programs that stand out from the crowd.
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