Ping pong tables, happy hours and beer on tap are great perks, but they won’t cover your medical bills or fuel an adventurous retirement. For that, you’ll need top-flight healthcare and a retirement savings plan.
While some tech companies point to ever-expanding lists of “out there” perks to draw in talent, others are doubling down on the traditional gold standards. We spoke to three companies to learn why they think tried and true perks still matter.
An e-commerce company whose consultants show off kitchen tools at parties and on their personal websites, Pampered Chef is on a mission to make it easier for people to cook at home and spend more time with their families. To Director of Strategic Analytics Robb Bennett, staying true to that mission requires the company to take work-life balance seriously in designing its benefits programs.
We want to make our employees’ working lives a positive and efficient experience.”
While some companies substitute 401(k) matching and top-flight health coverage for trendier perks, your company has decided to invest heavily in traditional benefits. Why is that?
We help families get meals on the table quickly and easily so they can spend more time with the people they love. We’re inspired by the same approach to employee benefits — we want to make our employees’ working lives a positive and efficient experience so they can balance their work lives and personal lives. We provide that by offering the core employee benefits that have a big impact on long-term happiness like an employee savings programs, health benefits, 401(k) matching programs and best-in-class vacation and leave policies.
This year, we implemented a flexible vacation policy so coworkers can take the time away that they need without counting vacation days, fully-paid 12-week leave for primary caregivers and fully-paid four weeks for secondary caregivers to ensure our employees don’t miss the moments that matter most.
How do those perks help you find great people?
We believe a career opportunity at Pampered Chef is compelling because, in addition to our meritocracy-based compensation structure with robust employee benefits, we also offer a purpose-driven culture, a focus on employee empowerment, and a commitment to individual growth and development. In the current job market, candidates are looking beyond just compensation, and we believe these dynamics position us well in competing for the best talent in the Chicago market.
A digital marketing agency with a specialty in working with pharmaceutical brands, closerlook offers creative support, data analytics and custom development services. According to Joanna Kontoudakis, VP of human resources, the company has its fair share of out-of-the-ordinary perks, including pet insurance and a partnership with a sustainable fruit and vegetable farm. But to her, the stability of a strong traditional benefits package is hard to beat in demonstrating care for employees.
It signals to potential recruits how invested we are in them from the start.”
While some companies substitute 401(k) matching and top-flight health coverage for trendier perks, your company has decided to invest heavily in traditional benefits. Why is that?
Competitive healthcare coverage, flexible PTO and a 401(k) match have been and will continue to be mainstays in closerlook’s benefits program. Sure, we have some more fun things too, like pet insurance and gym discounts, and we offer a community-supported agriculture share with Mick Klug Farm. We also have elective ones, like 100 percent maternity leave, generous paternity leave and tuition reimbursement. Supporting our teams’ financial, physical and emotional health is a no brainer for us because of the value and stability these programs provide in the lives of our staff and their families.
How do those perks help you find great people?
It signals to potential recruits how invested we are in them from the start. Culture and a great fit are really important to closerlook. But these need to be mutual. Offering strong, foundational benefits is one way to show people how committed we are to successful work and home environments.
One of Chicago’s fastest-growing startups, FourKites uses tracking technology and predictive analytics to help some of the world’s largest companies deliver stuff on time. Manager of HR and Office Sara Simmons said FourKites has placed a large emphasis on getting its core benefits right to ensure that team members feel like they’re taken care of.
People are our most important asset, and it’s important that our benefits reflect our values.”
While some companies substitute 401(k) matching and top-flight health coverage for trendier perks, your company has decided to invest heavily in traditional benefits. Why is that?
People are our most important asset, and it’s important that our benefits reflect our values. Having a comprehensive benefits package that ensures our employees are taken care of at a very basic level is important to us. We cover 90 percent of each employee’s health premiums, and we offer a 4 percent 401(k) match, which is fully vested after 90 days. We also have competitive PTO and an unlimited sick policy.
