The Perks That Matter: How to Keep Your Employees Happy?

The Wellness of Employees: Why Is It So Crucial?

Did you know that burnt-out employees are 2.6 times more likely to quit? (Gallup). Imagine losing your best talent, and it’s not about pay—it’s about feeling undervalued, overworked, and unsupported.

This is the reality many companies face today. Employees want more than just a pay check; they crave security, flexibility, and well-being. That’s why Fringe Benefits aren’t just an HR buzzword—they’re a game-changer for companies looking to retain top talent and stay competitive in a rapidly evolving job market.

What Are Fringe Benefits?

Fringe benefits are perks and additional compensation beyond an employee’s base salary. These aren’t just “nice-to-haves”—they’re essential in today’s workforce. Here are some examples:

• Healthcare Coverage :
  No employee should have to worry about medical bills. Comprehensive health coverage provides peace of mind and supports long-term retention.
• Paid Vacations :
  Burnt-out employees can’t innovate. Time off allows them to recharge, leading to improved motivation and productivity.
• Mental Health Support :
  Stress kills productivity. Providing access to counselling and mental health resources helps employees stay engaged and resilient.
• Work-from-Home Flexibility :
  Many employees value hybrid work models. Even a single remote workday per week can boost satisfaction and work-life balance.
• Tuition Reimbursement :
  Millennials and Gen Z prioritize career growth. Investing in their education fosters loyalty and drives long-term success.

Companies that invest in fringe benefits see higher engagement, lower turnover, and increased loyalty.

Why Employers NEED to Prioritize Fringe Benefits

What happens when employees don’t feel supported? They would start to leave. And replacing them isn’t cheap. Studies show that losing an employee can cost up to twice their annual salary.

The good news? Employers who prioritize employee well-being don’t just retain their best people—they attract top talent and boost productivity.

• 92% of employees say benefits are key to job satisfaction (SHRM)
• 78% would stay longer if offered better benefits (Glassdoor)
• Companies with strong wellness programs see a 25% reduction in absenteeism (Harvard Business Review)

Key Statistics on Fringe Benefits

(Source: SHRM Employee Benefits Survey)

As you can see from the Key Statistic, Wellness Programs are amongst the lowest to Benefit Types.

How Leading Companies Are Prioritizing Fringe Benefits

Microsoft: Prioritizing Family and Financial Wellness

Why it matters: Employees want financial security and family support. Microsoft delivers.

• Paid Parental Leave: Up to 20 weeks for birth mothers and 12 weeks for all new parents.
• Adoption Assistance: Financial support to help employees expand their families.
• Retirement Plans & Stock Options: Comprehensive financial planning for long-term security.
• Mental Health Support: Free counselling sessions and wellness programs.

Read More : Microsoft Employee Benefits

Lesson for Employers: Invest in long-term benefits that give employees peace of mind.

Starbucks: Investing in Employee Growth and Well-Being

Why it matters: Employees stay when they feel valued and have opportunities to grow.

• Tuition Reimbursement: Covers 100% of tuition fees for employees pursuing a college degree.
• Healthcare Benefits: Medical, dental, and vision insurance—even for part-time employees.
• Parental Leave: Paid leave for new parents, including adoption and surrogacy.
• Mental Health Resources: Free therapy sessions and wellness support programs.
  

Read More : Starbucks Employee Benefits

Lesson for Employers: Offer benefits that help employees grow—because stagnation leads to turnover.

Why Fringe Benefits Matter Now More Than Ever

The workforce is evolving, and employees expect more than just a pay check. Strong benefits help employees stay motivated, engaged, and productive. Whether it’s a wellness program, tuition assistance, or extra vacation days, investing in people-first policies ensures long-term success.

Ready to make a change? Start prioritizing employee well-being today.