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The best fringe benefits to look for in 2023

Technology is notorious for its bountiful and fun perks: think naps, or free food including catered meals for breakfast, lunch, and dinner, as well as free access to healthy snacks. On-site gyms are also a common perk, as are endless branded swag gifts — that Patagonia fleece vest is a strong contender among male finance and tech workers.

Throw in some arcade games, ping pong tables, and free beers from the fridge for when your brain needs a rest, and it’s easy to think techies have it all figured out.

Some benefits are so standard that they are not available anywhere else. In 2015, Uber booked Beyoncé to perform with a private company. At the Capital One location in Tysons, Virginia, the rooftop features an 18-hole mini putt putt course and retro food trucks.

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Perks are designed to do a few things: they’re perhaps most important of all: they’re a showcase of company culture – “we’re fun, honestly!” – and also a lever to attract new employees to a company. Great benefits can also help tech companies retain their existing workforce.

This is important, because employment at technology companies can be short. The average Google tenure in the US is just 1.1 years. In the UK, the average length of employment of employees is the lowest of any OECD country at around 1.6 years.

While a perk like pet insurance or the ability to bring your dog to work is great, in the broader macroeconomic environment of 2023, these kinds of incentives are no longer enough.

The cost-of-living crisis has brought perks into sharp focus. Annual inflation in the euro area was 9.2% in December 2022; a year earlier it was 5%. So having a climbing wall in the office is nice, of course, but how does that help employees pay their astronomical energy bills?

In addition, the new hybrid environment fostered by the pandemic has rendered many previous benefits obsolete. If you work from home more days than not, those office niceties like free massages and having your car washed on the spot are of little consequence. You just won’t be able to take advantage of it.

Now it’s all about benefits. Probably the most important benefit anyone gets from their 9-5 is their salary and, according to the European Central Bank (ECB), wages in Europe have remained fairly stable in recent years. The better news is that a large majority of companies expect to implement a wage increase of 4% or more in 2023.

That’s one piece of the puzzle; what else do employees want to see as part of a benefits package this year?

Money matters

Financial incentives are becoming increasingly attractive. From employee share plans to flexible spending accounts, tuition or reimbursement – ​​which is particularly appealing to those looking to support their future career progression – to pension contributions or matching, there are many ways employers can give their employees a real financial boost.

This job as a Senior Java Engineer at payment company SumUp, based in Berlin, is a good bet. With a company pension scheme and 28 days of paid leave, you also receive a budget for attending conferences and external training courses.

Health is wealth

Employee stress is a major problem. A study conducted by Gallup and Workhuman of over 12,000 employees in 11 European countries and the US found Ireland, the UK and Belgium to be the worst locations for burnout.

Three in 10 Irish workers surveyed reported feeling burnt out “very often” or “always”. That compares to 1.5 in 10 in Switzerland who reported feeling burnt out less often. Employers that offer a range of health and wellness support will attract the best talent. From work sick leave to life insurance, internal flu shots and mental health support, some companies also offer fertility benefits such as IVF or egg freezing.

At ByteDance, TikTok’s parent company, well-being is ingrained. We are “committed to the well-being of all our employees and promise to provide comprehensive and evidence-based programs to promote and support physical and mental well-being,” it says. If that sounds good, an Amsterdam role for a Dutch-speaking Content Moderator is now available.

Tangible, please

Other areas where companies can give back to employees in a way that positively impacts their bank balance is by offering perks such as commuter benefits, bike-to-work schemes and vouchers for free food at home.

Real flexibility when it comes to how the work is done is essential. From remote to hybrid styles, many employees discovered cost savings inherent to working from home during the pandemic, as well as more time to themselves, and are hesitant to give that up.

Better family leave benefits are also attractive. In addition to maternity leave, companies offering care leave, attractive parental leave packages for all parents, and bereavement leave are becoming more and more common.

Finally, companies that match charitable donations and days employees can spend volunteering are starting to become the norm. Check out XpertHR, which is hiring a Software Engineering Manager in Amsterdam. The company offers a wide range of benefits, including two extra ‘charity days’ per year.

For more tech jobs with brilliant benefits, visit The House Of Talent Job Board


Shreya has been with australiabusinessblog.com for 3 years, writing copy for client websites, blog posts, EDMs and other mediums to engage readers and encourage action. By collaborating with clients, our SEO manager and the wider australiabusinessblog.com, Shreya seeks to understand an audience before creating memorable, persuasive copy.

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