Today’s corporate job seekers are looking for more than a paycheck. In a survey of respondents who were extremely likely or very likely to leave their jobs in the next 12 months, 88% stated that an overall benefits package plays a role in their decision to leave their employers. Over 60% of the survey respondents said they’d be at least somewhat likely to accept a job offer with lower-than-expected compensation if it came with a more robust benefits package.
In today’s competitive labor market, companies must offer a benefits package that makes it clear the organization values its staff and presents a better option versus other potential employers in the same industry.
Here’s a closer look at the definition of employee benefits, what should be included to make the package attractive to top talent, and how meal perks might be the benefit that ultimately tips the scales.
What is an employee benefits program?
Employee benefits are the corporate perks employers offer employees as part of their employment. These benefits are in addition to a paycheck and may include tangible and intangible items. Some benefits are provided solely by the employer. Others, like health insurance, may see responsibility split between two parties — for instance, the employer paying a certain percentage of the policy while the rest comes out of the employees’ paycheck.
Some experts believe the strength of an organization’s employee benefits package is an indication of how that organization values its team.
What should be included in an employee benefits program?
Deciding what to include in an employee benefits program depends on several factors. Standard benefits change depending on the size of the company and the industry. Common employee benefits have become table stakes. These include:
- Health insurance
- Vision and/or dental insurance
- Life insurance
- Disability (short- and/or long-term) insurance
- Paid time off/vacation time
- Holidays off
- Retirement accounts, such as a 401(k) with employer matching
- Maternity/paternity leave
- Childcare assistance
- Gym membership
- Relocation assistance
But in today’s competitive labor market companies go even further to attract and retain top talent. Some of these benefits include:
- Meal stipends, such as a daily lunch stipend or Friday breakfasts
- Gourmet coffee in the breakroom
- An annual management retreat
- Work-from-home allowances
- Transportation allowances
- Pet-friendly offices
- In-house wellness programs, such as yoga instruction and discounts on fitness watches
- Futuristic office features like nap pods and virtual reality headsets to use during breaks
Offering meal perks to attract and retain top talent
A Grubhub survey found that 60% of employees equate company-provided food with feeling more valued and appreciated. More than half even said that the promise of a free lunch was enough to influence whether they accepted a job offer from a potential employer.
Other studies show meals can have a positive impact on the actual workday too, by boosting employee morale and even productivity. Employees who don’t have to leave the building in search of lunch have more time to bond with coworkers or keep working on their projects. These effects are highlighted in research too, with employees who have free food at work more likely to be ‘very’ or ‘extremely’ happy at their jobs than those without free food at work.
Food can also function as an incentive. One-third of Grubhub survey respondents said they’d be more likely to attend optional meetings if that meeting included company-provided food.
Your meal perks program might include:
- Team-building activities, like trivia, happy hour, or employee appreciation lunches
- Meal credits for traveling employees
- Company celebrations, such as holiday parties or annual kickoffs
- Weekly team lunch or breakfast
- Company-wide education events such as a lunch-and-learn
Providing meals for a hybrid workforce
Most companies are now in a hybrid model, with employees splitting time working from home and in the office. With a Grubhub Corporate Account it’s easy to feed employees across the nation, no matter where they’re working. With our individual meal perks staff can order their meals independently to be delivered wherever they happen to be working that day. And for those in the office, catering and group orders are additional ways to feed your employees.
When it comes to job satisfaction, 72.1% of survey respondents say there’s a direct link between the benefits they receive and how happy they are at their job. Meal perks are one benefit that can help you boost employee morale and retention. To learn more about using a Grubhub Corporate Account to facilitate your meal perks, contact us today.