Nowadays benefits aren’t only limited to what we usually assume benefits to be such as health insurance and 401K matching. Companies today are now offering what are called fringe benefits. With the importance of employee happiness growing, the importance of fringe benefits will also continue to grow along with it.
Fringe benefits are additional benefits that supplement an employee’s salary. Typically fringe benefits are also tax-exempt for the employer.
Examples of fringe benefits include:
- Office snacks, meals and cafeteria plans
- Gym memberships
- Retirement benefit plans
- Education assistance
Fringe benefits differ from traditional benefits. Often fringe benefits are not related to money at all and are available to be enjoyed in the present rather than waiting for long term benefits or investments. Millennials especially are more keen on companies who provide fringe benefits such as having free snacks in the office and the option to work from home occasionally.
Having perks such as fringe benefits increase employee happiness thus also increasing team productivity. Offering fringe benefits entices new hires in an effective manner.
Some companies that offer cool and unique fringe benefits are:
AirbnbImage Source: medium
Airbnb: offers an annual $2,000 stipend to travel and stay in an Airbnb anywhere.
NetflixImage Source: bizjournals
Netflix: office has a 200 person theater that features upcoming Netflix movies and series.
PatagoniaImage Source: The Surf Channel
Patagonia: Let My People go Surfing Policy allows employees to get away from their desk during the day to catch a wave, go hiking or just enjoy the great outdoors.
Image Source: Transworld Snowboarding
Burton: offers season passes to ski resorts for “pow days”.
Ben & Jerry's
Image Source: mic
Ben & Jerry’s: allows employees to take home up to 3 pints of ice cream everyday. Half Baked? Yes, please.
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