Pet insurance & chair yoga: Coming to an office near you
With little room in their budgets for significant raises or rich traditional benefits, more companies are looking to creative, low-cost perks to keep their workers happy.
The result has been a spike in voluntary benefits — benefits employees select and pay for through payroll deductions.
These perks are meant to show employees their company values them — as well as provide a greater work/life balance. However, the types of voluntary benefits being offered varies greatly from company to company.
Example: Some employers are sticking to more-traditional voluntary benefits — such as life insurance and adoption assistance programs — whereas, others prefer to offer unique perks like instructional videos on how to practice chair yoga.
One voluntary benefit that’s seen a huge uptick in popularity in recent years is pet insurance. A decade ago, you’d be hard-pressed to find more than a few companies that offered employees discounted health insurance coverage for their pets. Now there are more than 1,600 employers in the U.S. that offer pet insurance, including major corporations like S.C. Johnson, TD Bank and Travelocity.
Readers, what unique voluntary benefits does your company offer?
- Share on
Free Training & Resources
White Papers
Provided by Anaplan
Further Reading
Thinking about adding tips and overtime compensation to box 14 of Form W-2 for TY 2025? Two recent IRS notices have provided insight. Th...
A physical therapy and rehabilitation clinic in Hawaii recently learned an expensive lesson about overtime compliance after a federal inves...
Ever-growing postage rates are driving companies to digitize as much as possible. A record-high rate hike set for July 14 is going to impac...
Employers that don’t want to require employees to turn in receipts for business travel reimbursement can rely on per diem rates. T...
After several years of volunteer work, three individuals filed a lawsuit under the Fair Labor Standards Act (FLSA), saying they should have...
At first glance, Trump Accounts look like a low-cost win: tax-free, $2,500 per employee, good optics. But heads up — the fine print i...
