Employees adore perks. They want to be appreciated and recognized for their efforts. Many employees apply for jobs based on the perks and rewards provided by the employer.
Employee benefits are non-cash compensation provided to employees. Employees receive these benefits in addition to their salaries and pay. They are also known as fringe benefits, and they are provided to attract and keep employees.
Employee satisfaction is inextricably linked to job satisfaction. Ignoring employee pleasure will eventually result in a drop in commitment. As a result, there is a lack of drive, efficiency, and, eventually, production. Let’s see how MNCs offer employee benefits packages with the example of two tech giants: Facebook and Google.
Employees Benefits by Facebook
Facebook employee benefits encompass a wide range of topics, including health, family, financial, community, and time away.
- Employee credit: As a Facebook employee, you will be given employee credit. Each month, you will be paid $250. Also, credit for Facebook advertisements. This is one of the coolest benefits you will receive as a Facebook employee.
- Family sickness leave: When compared to other firms, Facebook is fairly generous when it comes to giving a leave. When you are obliged to care for some of your very ill family members, you will be provided six weeks of paid family leave.
- Work from home: Another advantage of working on Facebook is that you can work from home if your jobs can be done remotely. You can request remote work from anywhere in the world.
- Wellness reimbursement: Beginning in 2022, Facebook will provide $3000 in wellness reimbursement to its employees. If you’re ready to join Facebook, you should be aware of this. By participating in this initiative, the corporation hopes to encourage its employees to take a step toward fitness.
- Maternity leave: If you are expecting a child, you will be awarded a four-month maternity leave. The organization recognizes your goals and duties to your family and will assist you in reaching your full potential throughout your maternity leave.
- Newborn incentives: If you have given birth to a newborn, the firm will grant you a $4000 incentive to raise the child.
- Paid vacation: Facebook will provide you with 21 days of paid vacation as a full-time employee.
Employee Benefits By Google
Employees benefit Google more than simply a competitive wage. They are offered a fantastic all-inclusive package with several incentives. Depending on your position, region, and role at Google, you can expect additional perks in addition to the minimal benefits received by the majority of employees.
- Salary: Google offers highly competitive remuneration to its employees. Google employees make an average of $120,000 a year. Employees at Google have also reported receiving a cash bonus and a stock bonus, as well as profit sharing, commission sharing, and tips to supplement their pay.
- Health programs: Emergency and lab services, maternity care, preventive care, rehabilitation therapies, and prescription medicines are all essential health benefits at Google. Google is concerned about its employees’ health and well-being and provides a slew of wellness benefits in addition to medical coverage.
- Financial Programs: In addition to regular earnings, Google provides a retirement savings plan, a large 401k plan that often matches 50% of IRS contributions, or other regional retirement plans. This match’s winnings have been completely vested.
- Flexibility: Google understands that flexible work arrangements are necessary for employees to improve their production and efficiency. To work around your schedule, Google offers a hybrid work paradigm, remote work, and job-sharing.Employees require relaxation as well in order to stay healthy and perform effectively at work. They have paid vacation and holiday time.
- Family Assistance: Paid parental leave is one of many Google benefits that help expanding families. Maternity leave of 22 weeks is available to new moms. This enables employees to better manage their work and personal duties. Employees gain from family benefits because it makes them feel like their families and dependents are taken care of, and it also makes them feel appreciated for their work.
Providing the correct rewards and bonuses to your employees is critical for recruiting and retaining great talent. It also contributes to your firm becoming more diverse and inclusive. Depending on the size of your organization, you can develop these perks. Another method is to understand your employees’ needs and interests.