Unique Employee Benefits That Boost Company Success

The rise of remote work in 2020 has transformed the job market, pushing companies to compete not just locally, but globally for the best talent. To attract and retain top performers in this new landscape, your benefits package must be exceptional and reflect your company’s core values. By crafting an appealing benefits offering, you can build a strong talent pool that will drive your business success for years to come.

We aimed to investigate a compelling hypothesis: that companies providing unique benefits beyond typical industry offerings would experience reduced employee turnover and increased gross profit margins.

In our quest for insights, our research team examined the employee benefits programs of 50 top-performing companies from various industries, collecting valuable data on their gross profit margins and employee turnover rates. If you’re looking to enhance your own employee benefits packages and need support from leadership, our findings could provide the guidance you need.

Purpose

This study aims to uncover companies that provide the most unique employee benefits and explore the relationship between these unconventional perks, employee turnover rates, and gross profit margins. Our goal is to inspire HR and L&D managers looking to enhance employee satisfaction and lower turnover by introducing innovative benefits.

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Key takeaways

• The top 10 companies on our list had lower employee turnover rates and higher gross profit margins on average.
• X (formerly known as Twitter) topped the charts as the #1 ranked company for most unusual employee benefits.
• The top 3 most unusual benefits we uncovered were: baby milk shipping, “baby bonding bucks”, and a rooftop nature park.
• Patagonia led in benefits related to employees’ human rights and social responsibilities.
• Clif Bar Company was ranked top for benefits that promoted employee health and wellness.

Top 50 Companies with the most unusual benefits

We conducted a thorough evaluation of the employee benefits provided by each company, rating each benefit on a scale from 1 to 9. This allowed us to compile an overall score for each organization. Additionally, we compared these scores with the companies’ employee turnover rates and gross profit margins to identify any correlations.

If you see a hyphen (-) it means that information was not publicly available.

X topped the company rankings with an impressive score of 72, largely due to its unique perks like baby milk shipping, pet insurance, and onsite laundry services. Notably, tech companies led the way in the top 10 list, showcasing a trend towards offering unconventional benefits to attract and retain talent.

The most unusual benefits offered by companies

In today's competitive job market, companies are stepping up their game to keep talented employees, particularly parents. While financial support for childcare and babysitting is becoming standard, some organizations are innovating in unexpected ways to assist working parents. One standout example is the provision of baby milk shipping, showcasing a truly unique approach to meeting their needs.

If you've ever experienced the heart-wrenching need to "pump and dump" breast milk while away from your little one, you know how frustrating it can be to discard milk that took so much effort to produce. Fortunately, if you're traveling for work with companies like X, or Johnson & Johnson, you now have the option to ship your refrigerated breast milk directly back to your baby!

Among the standout perks in this category is Google's innovative "baby bonding bucks," a €460 stipend designed for new parents. This financial support can be used for services like meal delivery or cleaning, allowing parents to ease their responsibilities and focus on cherishing precious moments with their newborn.

To combat employee burnout, companies are increasingly investing in innovative wellness benefits. These include exciting amenities like on-site rock climbing walls, tranquil rooftop nature parks, and luxurious spas, all designed to promote physical and mental well-being in the workplace.

We see these initiatives as a significant leap toward fostering a healthier work-life balance and creating fairer workplaces for everyone.

Analysis: do companies that offer unusual benefits perform better on average?

Our analysis of the top 10 companies revealed a striking trend: they boasted an average employee turnover rate of just 11.91%, significantly lower than the 14.70% seen in other firms on our list. This indicates that organizations that prioritize innovative employee benefits programs tend to enjoy higher talent retention, ultimately enhancing overall employee satisfaction.

It's important to note that several companies on the top 10 list, including X (18.30%) and Meta (17.50%), experienced turnover rates that exceeded the average. This spike can be attributed to recent mass layoffs within these organizations.

Now, what about gross profit margins?

The average gross profit margins across the top 10 companies were slightly higher at 68.84% compared to the 62.22% overall.

Numerous elements influence a company's gross profit margins, but we assert that cultivating and retaining a skilled talent pool plays a crucial role in enhancing overall financial success.

Many companies overlook the crucial role that benefits packages play in their growth. The reality is straightforward: high-performing employees significantly influence business success, and they are likely to seek opportunities in environments where they feel valued and supported.

Andreas Kyprianou, Senior Director of People Ops, Total Rewards & Analytics, LingualNeeds

Case study: Zoom - joint 1st for lowest employee turnover rate

During the Covid-19 pandemic, as the world retreated indoors, Zoom experienced a remarkable surge in growth that continues to accelerate. This dynamic platform has not only adapted to the challenges of remote communication but has also earned accolades, securing a spot on Fast Company’s Most Innovative Companies list and being featured in Fortune’s Most Admired Companies list this year.

In our study, they tied with Clif Bar & Company for the lowest employee turnover rate, an impressive 3%. Additionally, they ranked 8th for providing the most unique employee benefits, indicating a strong link between their innovative benefits program and overall employee satisfaction.

Their benefits included; electric vehicle reimbursement, pet insurance, financial planning coaching, and adoption assistance.

Case study: LingualNeeds - only company to offer language learning

At LingualNeeds, I truly appreciate the incredible benefits we enjoy. From enriching language lessons and a gym membership to a central office location, comprehensive healthcare coverage, and flexible work schedules, the perks here are extensive and tailored to enhance our well-being and productivity.

After moving from London to Barcelona, I turned to LingualNeeds for assistance, and they truly made the process seamless. From securing my visa to providing financial support for all moving expenses, Mireia Camps, our relocation specialist, was incredibly knowledgeable and offered invaluable tips to help me settle into my new home effortlessly.

Naomi Boitel, Content Marketer, LingualNeeds

LingualNeeds is an innovative language learning platform that specializes in tailored corporate language classes. With operations in both the USA and Spain, the company fosters a vibrant multicultural and multilingual community, enhancing the learning experience for its users.

In a recent study of 50 companies, LingualNeeds stood out as the sole organization providing language learning stipends for its employees. While this initiative aligns perfectly with their focus on language education, it also highlights a growing trend: the significance of such benefits across all industries. At LingualNeeds, we believe that embracing language diversity is a vital aspect of our commitment to Diversity, Equity, and Inclusion (DEI).

During significant transitions like mergers or acquisitions, a company may shift its primary working language. This change can leave employees facing new communication challenges as they navigate interactions with colleagues who speak different languages, potentially hindering collaboration and understanding.

Promoting language learning among employees, particularly for languages spoken by many of their colleagues as a first language, is an effective strategy to cultivate a culture of inclusion and diversity within your organization.

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Case study: Clif Bar Company - leader in employee wellness

They might have come in third place for the highest unusual benefit score, but they’ve topped the employee wellness category.

At Clif Bar Company, our passion for the great outdoors and commitment to fueling our bodies with organic, wholesome food drives us to prioritize the health and well-being of our employees. It's no wonder we invest significant effort into promoting a healthy workplace culture.

The company recognizes that work obligations often hinder our health and wellness aspirations. To address this, they provide an on-site rock climbing wall and allow employees to spend 2.5 paid hours each week on exercise. Additionally, their generous 6-week paid sabbaticals emphasize their dedication to supporting employees' mental well-being by encouraging them to take time off and recharge.

Their exceptional dedication to employee health and wellness is a key factor behind their impressive achievement of tying with Zoom for the lowest employee turnover rate at just 3%.

Case study: Patagonia - leader in social justice benefits

Patagonia has become a leading example of corporate social responsibility, renowned for its steadfast dedication to minimizing its carbon footprint and promoting sustainable development. This commitment extends to its workforce, earning the company the top spot for offering the best benefits related to social responsibility. Their holistic approach not only benefits the planet but also fosters a supportive environment for their employees.

Patagonia stands out in attracting socially conscious employees by providing unique benefits like paid activism hours. This initiative allows employees to receive compensation for the time they dedicate to volunteering, empowering them to engage in causes they care about while contributing to positive change.

In a standout move, Patagonia champions its employees' well-being and human rights in ways that set it apart from many other companies. They provide unique benefits, including travel reimbursements for staff who need to travel out of state for abortions or gender-affirming surgeries, reflecting their commitment to supporting their team’s diverse needs.

In their mission to create a “brighter future for all our families,” they provide an innovative bail-assistance program specifically designed for employees who may be arrested or detained while exercising their First Amendment rights.

Unique benefits like these significantly contribute to Patagonia's remarkably low employee turnover rate of just 4%, the second lowest recorded in our study.

How to apply this information to your own company benefits

The employee benefits your company provides are a direct reflection of its overall culture. For example, Patagonia's commitment to social justice and LingualNeeds' focus on corporate language training demonstrate how well-designed benefits can help attract top-tier talent that aligns with your company's values. By prioritizing employee perks, you can create a stronger, more cohesive workplace culture.

We encourage you to draw inspiration from this study to enhance your benefits program and to assess your existing policies for improvement.

• Do your current benefits reflect the company’s values and culture?
• Talk to your employees about their lives, goals, and what’s important to them to inspire your benefits program.
• What’s something you could reasonably add to your benefits program to differentiate them from your competitors?

Leverage the findings from this study, especially the lower employee turnover rates of our top 10 companies, to effectively persuade your superiors to embrace innovation in your employee benefits program.

Methodology & Sources

We analyzed publicly available data on employee benefits from various companies, assigning a score to each benefit on a scale of 1 to 9, where 9 represents the most unique offerings and 1 signifies the least. By averaging these individual scores, we calculated an overall score for each company, providing insight into the uniqueness of their employee benefits.

We defined "unusual" by evaluating how distinctive a benefit was in relation to industry norms. For instance, if a benefit was widely offered across the industry, it would receive a lower score.

We collected data on employee turnover rates and gross profit margins from a variety of sources, including annual reports, HR publications, and news articles. Please note that if you encounter a hyphen (-), it indicates that the specific data was not publicly accessible.