33+ Ideas for the Best Company Perks Out There

When your company is pulling together a competitive total rewards package, base pay, equity, and benefits all play a role — but perks are just as important as ever.

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Competitive tech companies have shown the value of those extra incentives that are a cherry on top of a great compensation package, and help employees feel that they can live a more rounded and quality lifestyle.

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Sometimes the cost of the perk doesn't matter as much as the perceived value of it. Offering a variety of perks that appeal to different people increases the likelihood that every employee will use company perks to their full advantage.

We've pulled together a list of some of the most popular employee perks within a competitive total rewards package, complete with original data and insights.

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Physical health 

For employees increasingly working off-campus, flexible incentives are the perfect way to encourage a healthy lifestyle based on an employee's specific needs. Data from Agora shows that companies spend up to $1,000 a year per employee on average for wellness initiatives.

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For example:

• Gym memberships - Give subsidies for gym membership, whether it's a partnership with a certain gym, a monthly stipend up to $100, or monthly or annual discount.
• Fitness perks - Offer a monthly or annual stipend for fitness classes, Groupon, ClassPass, or home fitness equipment.
• Exercise apps - For those who choose to stay at home, apps like Whoop, Aaptiv, and Oura are great choices.

Mental and emotional health

Offering mental health benefits has become an increasingly important factor in the workplace, and is a top concern for Millennial and Gen Z employees. In fact, one recent study found that 73% of employees and 81% of managers would more likely stay at a company that offered high-quality mental health resources.

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Here are some perks your company can offer: 

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• Employee assistance programs (EAPs) - An EAP gives free and confidential assessments, referrals, short-term counseling, and follow-up services for a wide variety of issues, from mental health disorders to substance abuse and family issues. Some popular options include Spring Health, Modern Health, Lyra, and Teladoc.
• Meditation apps - Offer membership to meditation apps like Headspace and Calm.
• Mental health apps - Check out company subscriptions to mental health resources like Talkspace, BetterHelp, and Ginger.io.

Workplace flexibility

Working remotely versus in the office is still a contentious and ever-changing goal post for many companies. 63% of employers in 2022 offer most of their employees a hybrid work model. Increasingly, many employees don't want to return to the office at all — but some still miss the camaraderie and mentorship opportunities it offers.

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Whichever way your company decides to go, offering some degree of flexibility can satisfy all parties and make your company one people want to stay with.

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Some ideas include:

• Co-working options - Offer either company satellite offices for people to work from, or cover the costs of co-working spaces like WeWork.
• Schedule flexibility - Support working parents, people taking care of sick or elderly family members, and accommodation for life transitions or medical events — not to mention people who want to work out in the middle of the day or do some easy upkeep around the house.
• Team events – If your team works remotely year-round, pay for happy hours, team events, and semi-annual retreats (maybe even somewhere fun or interesting, like Cancun or a mountain retreat).
• Commuter benefits – Most employees foot the bill to commute to work, a frustration as remote work has become more common. Programs like TransitChek in New York City offer pre-tax benefits for monthly commutes up to $280, but employers in a variety of locations can simply offer a subsidy or mileage reimbursement.
• Phone and Wi-Fi reimbursement – Especially for employees who work from home, this could be a big windfall. Data from offer letters sent through Agora shows that employers offer the average employee $900 per year for reimbursement.
• Home office stipends - Agora’s data shows that on average, employers give $1,500 per employee to cover costs related to working from home — from buying new computers to office furniture like an ergonomic desk and chair.

Training, development, and education

Developing employee talent is a great way to help team members grow within their own personal skill set and within the organization. In fact, as of 2022, 65% of employers offer some kind of professional and career development perks.

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Some ideas include:

• Professional development courses - This could range from sponsorship to attend industry conferences to stipends for night classes, or internal training seminars.
• E-learning memberships - Check out resources like LinkedIn Learning, Degreed, Coursera, and Udemy.
• Book stipends - Offer up to $250-$500 a year for personal learning and enrichment.
• Coaching and mentoring - Provide one-on-one sessions with mentors who will help develop a specific skill set.
• Hobby interests - It doesn't just have to be for work! Offer tuition reimbursement for classes on photography, sculpture, cartography, cooking classes, or whatever else lights your employees' fire. 

Company swag

Branded swag like mugs, t-shirts, and notepads are a perfect welcoming gift to onboard employees and help them feel like they’re a part of the greater team. Check out places like Design Like Whoa, Creative MC, Swag.com, USImprints, and Brandvia for a variety of options.  

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Just like with other comp components, putting together a package of great perks is just the beginning — conveying the value and availability of all those perks is equally important when closing candidates and retaining employees.

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Agora can help

Most candidates and employees never get to see — much less understand — the full value of their total rewards packages. Many companies are now turning to compensation software tools like Agora to communicate total rewards and boost employee hiring and retention. 

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From demystifying compensation to showcasing top perks, we’ve got you covered. Want to see how it works? Schedule a demo with our team. 

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