How to Stay Competitive With Your Intangible Benefits

People and culture are the backbones of businesses. To bring in the top talent and reduce turnover rates, company leaders need to have the right tangible and intangible assets in place. Intangible employee benefits are a large factor that potential and current employees consider when deciding on a job or deciding to stay at a business. So, how do you stay competitive with your intangible benefits? 

1. Consider Work-Life Balance 

Work-life balance is becoming more and more important, especially with more people working from home and more businesses shifting to a hybrid work model. Providing a strong work-life balance for your employees increases their mental health, which impacts their overall productivity in the workplace. A few work-life balance benefits to consider are: 

• Option to work remotely
• Unlimited (or generous) paid time off
• Flexible work schedules
• Casual dress code
• Gym membership reimbursement

2. Invest in the Growth of Your Employees 

Another great way to build upon your intangible benefits is to invest in the skills of your employees and make sure that they are set up with tools to help them gain further knowledge of the industry. This not only impacts them as individuals but it enhances your team as a whole. A few employee growth development benefits include: 

• Paying for courses and certifications 
• Reimbursing for tuition 
• Conference and networking stipend 
• Book stipend 

3. Encourage Flexibility

Encouraging a flexible work culture is one of the most appreciated intangible benefits that you can offer to your employees. Flexibility in the workplace shows employees that company leaders care about their lives outside of work. Here are a few easy ways to implement flexible work: 

• Work from home options 
• Flexibility to rearrange work schedules for medical appointments 
• Unlimited time off (read more about how it works here) 

Check out these guidelines many of our clients follow when deciding when to revisit their benefits packages. If you need additional help with creating competitive intangible benefits for your employees, reach out to our team here.