15 Inclusive Employee Benefits to Offer in 2024

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Laurenzo Overee

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15 Inclusive Employee Benefits to Offer in 2024 - October 15, 2024
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Inclusive employee benefits shape your team members’ engagement and satisfaction. The benefits that you offer affect a team member’s loyalty to the company. An inefficient benefits package could cause hires to seek out more positive and inclusive environments.

Traditionally, employee benefits revolved around perks like vacation time off and retirement plans. However, the pandemic has demonstrated that workforce priorities and sentiments remain fickle and change at the drop of a hat. These days, many employees are seeking flexible schedules and holistic wellness benefits.

As such, hiring managers must proactively respond to the latest employee trends to retain top talent. Inclusive employee benefits could be a game-changer in talent acquisition during difficult job markets.

We compiled 15 inclusive employee benefits to apply in 2024 to help your company attract qualified candidates in response to any talent crunch.

15 Inclusive Employee Benefits for 2024

#1 Mental Health Support

Statistics from Medical Health America’s 2023 State of Mental Health in America survey revealed that 21% of adults experience some form of mental illness. Many mental conditions display subtle symptoms like appetite and sleep pattern changes and remain disregarded while they undermine a person’s quality of life.

Mental health conditions like anxiety and depressive disorders could worsen with the stress buildup and burnout at the workplace. The World Health Organization (WHO) shared that organizations globally lose 12 billion productive work days annually to depression and anxiety alone, at a cost of nearly US$ 1 trillion.

You can strengthen your workforce’s resilience by providing mental health packages that include:

Sponsoring subscriptions for mental wellness and mindfulness apps like Headspace, Calm, and Happify.

Offering video counseling services from certified and licensed therapists.

Allocating meditative spaces at work where employees can destress between working hours.

Providing employee wellness programs like yoga, art, and meditation lessons to help individuals unwind.

#2 Inclusive Parental Leave/ Family Stipend

Inclusive parental leave policies ensure that every employee receives financial support for managing their family responsibilities. For example, you could provide parental leave to surrogate mothers, adoptive caregivers, and single parents. These perks would extend beyond conventional parental roles, regardless of a couple’s sexual orientation or gender identity.

Broadening parental leave packages can boost your company’s reputation as an inclusive employer and diversify your talent pool for future hiring campaigns. You could also offer parental leave as part of a family stipend, which employees have the freedom to claim for miscellaneous family expenses. So, these stipends could cover the following:

Paid childcare leave – employees can apply the stipend for recurring fees, including aftercare and in-home care services.
Bereavement leave
Fertility consultation and procedures
Family injury and insurance
Senior care for elderly parents and relatives
Fertility Treatments

It is also important for your hiring team to discuss family concerns and challenges with candidates to tailor stipends according to their unique needs. Your team should also consult the data on your state’s average cost of expenses (e.g., average weekly daycare rates) to decide on a practical stipend amount.

#3 Flexible Work Schedules

Flexible work schedules allow employees to maintain a work-life balance as more companies break from 9-5 structures. Therefore, a flexible work schedule reduces stress levels, prevents burnout, and keeps your workforce well-rested, engaged, and focused on advancing company goals.

Promoting flexible work options on your JD caters to the specific needs of candidates juggling various life commitments. These may include childcare duties or health issues that hinder daily commutes, which could ultimately affect their decision to apply for a job.

One recent survey revealed that 92% of millennials prioritize job flexibility in their job search. The same study also shows that 80% of women seek flexibility for their next job role.

Ongig’s Text Analyzer makes it easy to manage critical JD sections and elements like work flexibility to optimize job searches for improved application rates.

#4 Gender Affirming Medical Benefits

According to the Human Rights Campaign Foundation’s Corporate Equality Index, a growing number of organizations continue to adopt gender transition guidelines.

These policy updates can boost your company’s reputation as an inclusive employer while significantly improving the quality of life for transgender hires. Medical research shows that 78% of trans people who receive medical treatment experience improved mental health and also reduced suicide rates.

Providing gender-affirming benefits to new hires reduces the burden of costly medical consultations and reassignment surgeries. These policies follow the changes implemented by the American Medical Association, which aimed to put a stop to healthcare companies’ discrimination toward transgender individuals.

Your hiring team can advance inclusive hiring initiatives by making gender-affirming benefits more accessible to applicable hires. For instance, you could share about the availability of these employee benefits on your JD or include them in the employee handbook.

Collaborating with insurance providers offering comprehensive coverage on transgender-related healthcare services is also essential.

#5 Domestic Partner Benefits

Your company can enhance inclusive hiring by offering domestic partner benefits with similar perks as married couples. So, these policies apply to employees who can verify that they have been living with their partner for a specific time. Other eligibility criteria for domestic partnership benefits include proof of financial interdependence between parties and the dedication and exclusivity of the relationship.

A workforce survey showed that coverage for domestic partners is similar in cost to coverage for spouses or other dependents. Including domestic partner benefits in your job postings could attract unmarried job seekers currently sharing the household with their long-term partner while engaged in long-term family planning.

These inclusive employee benefits could improve your employee’s cash flow and finances while they remain focused and motivated in developing their careers. So, a domestic partner benefits package could include paid sick leave, retirement benefits, and medical and health insurance coverage.

#6 Unlimited Paid Time Off (PTO)

A people-oriented work culture enhances employee engagement and productivity by considering individual needs. In fact, an organization with a people-oriented culture considers employees their most valuable assets. Unlimited PTO is one effective payment structure for maintaining a people-oriented work environment.

With PTO, employees have infinite paid-off days rather than the fixed amount allocated at the start of their organizational journey. Employees can use PTO based on their needs, from childcare leave to vacation breaks. Under the policy, managers and supervisors can approve the PTOs as long as employees fulfill their assigned tasks and duties.

With unlimited PTO, you essentially establish your company culture upon trust. Doing so promotes transparent communication between leaders and employees, preventing schedule clashes and misunderstandings. In the long term, your company can maintain greater accountability in talent management while staying cost-effective.

#7 Diverse Employee Networks

The best practices of inclusive hiring enable candidates of all backgrounds to assimilate into your work culture. Offering diverse employee resource groups (ERG), options ensures your hires find the resources and peer support needed to ease into their roles.

An estimated 57% of employees in the United States reported benefits from participating in an ERG, such as improved job satisfaction and career development. For the best employee experience, consider expanding ERG options beyond popular networks (e.g., women and LGBTQ+ communities).

ERGs to consider adding to the mix may include:

Intern networks – A community managed by supervisors and managers with experience collaborating with interns. Members can access rich insights on job expectations and best practices.

Wellness networks—Employees in these networks receive positive reinforcement from fellow members to prevent burnout and achieve a healthier work-life balance. These groups can significantly boost your company’s employee wellness initiatives.

Parent networks – A group for parent employees where members can share tips on childcare and work-life stress management.

#8 Employee Rewards Programs

An employee rewards program promotes a sense of belonging and acceptance. Outward employee recognition goes a long way in your inclusive and DEIB efforts. Adding employees to a program establishes a transparent practice that appreciates individuals for their contributions.

So, by incentivizing employee contributions, you can continuously advance your organizational goals while sustaining a motivated workforce.

In addition, consider individualizing rewards according to your employee’s needs to achieve the best response. You could align your rewards with unique employee value propositions or workplace insights from organizational surveys.

Consulting Firm Mercer highlights the following four essential inclusions to maximize the impact of your employee rewards programs:

Market-informed (basing compensations on the latest market/industry rates)
Performance-driven
Fair and consistent delivery
Designed to support individual career development

Some creative employee rewards include gym membership subsidies, education tuition rebates, and one-time financial incentives. These initiatives can boost employee morale and strengthen company loyalty by demonstrating that your company values and responds to individual needs.

#9 Floating Holidays

Employees have varied lifestyles that affect their holiday arrangements. Floating holidays provide the flexibility for employees to reschedule holiday off days according to their preferred practices.

For instance, an employee could swap their Christmas Day off for the Songkran celebration (the Thai Water Festival, which falls on 13 April annually). Floating holidays also promote a culture of acceptance and appreciation for cultural and religious diversity.

Companies commonly apply floating holidays to national celebrations like New Year’s Day, Memorial Day, Independence Day, and Thanksgiving Day.

From an employer’s perspective, these practices improve business continuity by staggering time-offs during peak periods. Your hiring team could leverage policy to boost talent acquisition since the Fair Labor Standards Act does not currently mandate floating holidays as regulation.

#10 Diverse Healthcare Provider Schemes

Expanding your organization’s healthcare provider network can enhance the quality of service and treatment options for employees of diverse backgrounds. Industry studies reveal that individuals tend to undergo better recovery, patient satisfaction, and adherence to medical protocol when served by practitioners from similar communities.

According to the research, patients and healthcare practitioners from similar backgrounds build stronger relationships based on trust and understanding that reduces implicit bias. Your organization can maximize employee healthcare outcomes by systematically assigning individuals to healthcare providers from their respective communities.

Your talent managers can diversify healthcare provider options by:

Broadening medical provider options through discussion with health insurers or third-party administrators.
Recommending mobile app solutions like HUED, which pairs users with equitable and inclusive healthcare experts.

#11 Employee Assistance Programs (EAPs)

EAPs offer employees accessible resources and professional treatments to perform at their best when life gets tough. These inclusive employee benefits may cover mental health services and physical health benefits, including short-term counseling programs, financial advising, and medical treatments. Companies can offer EAP via third-party vendors like LifeWorks and CorpCare.

EAPs support employees in navigating emotional distress or major life events like weddings, bereavement, and family planning. Research shows that EAPs reduce absenteeism by 70%, keeping employees engaged and motivated as they navigate life challenges.

As such, these assisted programs could optimize your company’s productivity since the Center for Disease Control and Prevention (CDC) reports that absenteeism in the U.S. costs employers $225.8 billion annually in productivity losses.

It is important to select an EAP provider that caters to a diverse community for the best results. Some factors to consider when making a decision include:

24/7 therapist availability
Content translation
User anonymity to safeguard an employee’s privacy.

#12 Remote Work Support

Research from Upwork reveals that 22% of the American workforce could work from remote positions by 2025. As such, providing remote team members with incentives and support similar to those received by on-premise teams is becoming increasingly important.

Companies should prioritize remote work support as studies indicate that 45% of remote workers feel less mentally healthy when working from home due to a lack of work-life balance. The following remote work support offerings could help maintain employee well-being and maximize their productivity:

Home office stipends – A budget for remote workers to spend on products and services to create a conducive work environment.
Virtual mentorship programs – Employees can receive guidance and tips from senior executives and leaders to succeed through professional development.
Performance and annual bonuses—Companies can track relevant metrics, such as deadline adherence and online client feedback, to reward remote work efficiencies.

#13 Pet-Related Benefits

Pet insurance is a strategic employee incentive to include in your job postings as more individuals opt to raise pets/fur babies over having children. These inclusive employee benefits reduce the financial burden and stress of costly veterinarian treatments and therapies (e.g., a wound treatment for a dog could amount between $800 and $2500).

Your HR and hiring team could also apply pet bereavement leave policies. These initiatives further validate employees’ bond with their pets to foster a more accepting work culture.

#14 Education Assistance Programs

Education assistance programs empower employees who are keen on upgrading their professional and academic skills through continuous learning. You could provide inclusive employee benefits such as tuition fee reimbursements, course subsidies, or refer employees to courses that can help advance individual career development goals.

Management consulting expert GP Strategies recommends the following measures for enhancing your company’s education assistance programs:

Aligning tuition programs to meet business objectives.
Defining the success of your education assistance programs with measurable KPI data like retention and turnover rates.
Gathering routine employee/participant feedback to assess the effectiveness of your programs.
Consistently evaluating and improving education assistance programs based on cost and relevance.

#15 Professional Networking Opportunities

Companies that offer professional networking opportunities present employees with exclusive industry exposure that could significantly improve their long-term career prospects. These sponsored initiatives may include professional conferences, roundtable discussions, workforce focus groups, and career association memberships.

For a more inclusive approach, consider matching employees from underrepresented groups to events organized by their respective communities (e.g., women in tech network that promotes gender diversity in technology sectors). These networking opportunities can also optimize participation as employees learn from industry experts with relatable and relevant career experiences.

Inclusive Employee Benefits as a Cornerstone of DEI Strategy

Many inclusive companies have now realized that inclusive benefits plans are a great way to support diverse employees and create a more inclusive work culture. Therefore, offering benefits that address the diverse needs of employees is an important step in promoting equal access and fostering an inclusive environment where everyone can thrive.

Meeting the Diverse Needs of Your Employees with Inclusive Employee Benefits

A one-size-fits-all approach to benefits is no longer enough. Employees come from different backgrounds and face unique challenges based on factors like marital status, family structure, work location, or financial status. For example, adoptive parents, people of color, and other minority groups may require benefits that traditional plans don’t always cover. Therefore, offering family-building benefits, maternity leave, or even remote work options is a great way to show employees you care about their individual needs.

Benefit Design Matters with Inclusive Employee Benefits

To truly support a diverse workforce, your benefits plan design should be flexible and inclusive. So, consider adding options like wellness stipends, tuition reimbursement, and financial wellness programs that go beyond traditional benefits like healthcare benefits and retirement plans. These new benefits also help ensure that employees have equitable access to resources that help them be their best selves at work.

Employee Feedback is Key for Inclusive Employee Benefits

A good idea for improving your inclusive benefits package is to gather employee feedback regularly. Surveys, exit interviews, and conversations with fellow employees can offer insights into the needs of your employees and reveal gaps in your current benefits package. So, including employees in the benefit plan design process allows company leaders to create an inclusive benefits offering that supports all employees, regardless of their cultural background or financial status.

Inclusive Employee Benefits and Company Success

Studies show that inclusive benefits contribute to better health, higher employee satisfaction, and improved employee well-being. Offering an inclusive benefits package is also the best way to attract and retain the best talent. It shows diverse candidates that your company values inclusivity and also gives everyone an equal chance to succeed.

Building an Inclusive Work Culture Through Inclusive Employee Benefits

Creating an inclusive work culture is not just about offering the right benefits. It’s also about making sure employees feel comfortable bringing their whole selves to work. Therefore, by offering an inclusive benefits plan, you’re taking the first step toward building a sense of community where employees from all different backgrounds feel they have equitable access to opportunities and support.

Why I Wrote This?

Ongig’s Text Analyzer platform applies advanced AI algorithms that replace dull and biased JDs with fair and effective alternatives. As such, your hiring team can leverage the Text Analyzer to promote employee benefits at scale to win the interest of top candidates. So, request a demo with Ongig to elevate your talent acquisition campaigns without hassle.

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October 15, 2024 by Laurenzo Overee in Diversity and Inclusion, HR Content