Competitive employee benefits are a crucial component for companies to attract, recruit, hire, and retain top talent. While health insurance, paid time off, and 401(k) matching have practically become non-negotiables in today’s employment market, there are a lot of additional perks and benefits that you can offer to provide further hiring incentives and promote your employees’ social, financial, mental, and physical wellbeing — without diving into employees’ wallets for more premiums or subscription costs.
Developing useful low-cost/no-cost benefits takes creativity, research, and alignment with your employees’ priorities. The Pax8 People Ops team uses a variety of tools to keep a pulse on what is most important to our team. We offer an online “suggestion box” in SharePoint where employees can submit ideas and requests, as well as conduct frequent polls on Teams and surveys on our people management platform, Lattice.
Some Pax8 benefits were created in direct response to our move to remote work during the COVID-19 pandemic. We realized that employees were missing out on the built-in socialization and networking that comes with being in the office and that they needed additional financial supplements to create effective at-home working environments. Additionally, mental health and financial wellness became more important than ever due to the stress, anxieties, and isolation brought on by the uncertainties of a global pandemic, so we continued to develop our programs in those areas to better support employees. Some of our offerings also required finding and partnering with outside organizations to deliver savings and discounts.
Below, we break down some of the top low-cost/no-cost benefits Pax8 People Ops has found to be most popular with our employees.
Everyone deserves some “just for fun” benefits! Back when Pax8 was full-time in the office, we offered perks like snacks, beer and kombucha on tap, a climbing wall, a ping pong table, and an on-site gym. With our move to hybrid work and a global team, we’ve had to adapt to provide opportunities for socialization and discounts wherever our employees work.
Meet for a Meal Program (all employees)
To continue building strong working relationships and foster a sense of company culture while working remotely, Pax8 rolled out a “Meet for a Meal” program in 2021. This program was designed to encourage employees to get to know coworkers outside of their team and make new connections. Twice a month, Pax8 employees can meet with coworkers (either in-person or virtually) during business hours and expense their lunch (up to $20).
Home Allowance Program (all non-management employees)
People Ops recognizes that working remotely requires additional equipment and supplies than what is needed in the office. To help employees create a more productive and comfortable at-home working environment, our Home Allowance Program provides a one-time stipend that can be used for eligible office furniture, equipment, supplies, and Internet service at home.
Working Advantage Discounts, Offers, and Deals (all employees)
Pax8 partners with Working Advantage to help employees save money on everyday purchases. This program provides exclusive deals, limited-time offers, and members-only discounts on products and services including movie tickets, pet insurance, groceries, gym memberships, electronics, flowers, hotels, car rentals, theme parks, and more!
Foodsby Food Delivery Discount (Denver-local employees)
When Pax8 employees return to the office, we will continue to offer our Foodsby food delivery discount program. This service provides access to contact-free delivery from local restaurants in the Denver metro area, requiring no tipping and no minimums — and Pax8 pays the delivery fee to the office.
EcoPass (Denver Metro employees)
To reduce commuting and parking costs, and to encourage greener commutes, Pax8 provides an EcoPass to Colorado employees. This pass provides unlimited bus and train rides, including fares for trips to and from the airport. Pax8 is also looking into a commuter Flex Spending Account (FSA) that would provide low-cost commuter benefits to all US employees
Health & Wellness Benefits
Our employees’ health and wellness are foremost priorities for the Pax8 People Ops team — especially as the uncertainty and isolation of the pandemic has created additional stress, loneliness, and anxiety for everyone. We offer the following no-cost benefits to help our employees and their families connect with the health resources they need, when they need them.
Health Advocate (US employees)
It can be overwhelming to try to navigate the healthcare system during times of illness and injury. This free service provides employees with their own Personal Health Advocate who can assist in finding the right doctors, resolving billing issues, scheduling appointments, and understanding care options. Pax8 spouses, children, parents, and parents-in-law can also use this service.
Employee Assistance Program — EAP (US employees)
The Employee Assistance Program, or EAP, is a free benefit that provides 24/7 confidential, professional assistance for employees facing a personal, family, or workplace problem. Employees are eligible for up to 3 sessions with trained staff (either in person or by telephone) per year per concern — which can include relationships, emotional health, depression, and anxiety.
EAP also offers resources and concierge matching for:
– Childcare and parenting services, including referrals for childcare options, adoption resources, prenatal and breastfeeding programs, and education planning
– Senior care services, including referrals to senior housing options, home care, home safety resources, retirement planning resources, and help for caregiver issues
– Legal and financial services, including referrals to legal counsel, financial planners, debit/credit management resources, legal document preparation, and estate planning. Employees are eligible for a 30-minute legal consultation on 3 legal matters per year and a 30-minute financial consultation for up to 3 financial issues per year
– Home services, including referrals to contractors and home repair specialists, pet care resources, and moving/relocating resources
73% of Americans rank their personal finances as the #1 stress in life, according to a July 2021 survey. To help alleviate that anxiety, Pax8 offers several programs to help our employees better understand and manage their finances.
Alpha Capital Management (US employees)
Where does household money go each month? What are credit scores and why do they matter? Alpha Capital Management is available free to all US employees for financial guidance and resources on how to begin investing for the future.
Employee Assistance Program — EAP (US employees)
As described more thoroughly in the section above, our Employee Assistance Program includes referrals to financial planners and debit/credit management resources, with employees eligible for a 30-minute financial consultation for up to 3 financial issues per year.
Communication is key!
What good are perks and benefits if nobody uses them? It’s critical to ensure that all employees know what’s available to them and how to access and take advantage of every benefit. Sharing a list of benefits on a slide during an onboarding presentation is not enough. Pax8 frequently sends reminders about available benefits and perks via company-wide Teams chats, polls, and SharePoint pages to reinforce the message and increase participation.
Our hope is that by offering these low-cost/no-cost perks and benefits, we can help our employees thrive in both their work and personal lives. And we continue to listen to our team to develop new programs to meet the changing priorities of our workforce — because our people are what matter most.