25 Companies with the Best Benefits and Perks
In this article, we will take a look at the 25 companies with the best benefits and perks. If you would like to skip our discussion on the global workforce trends, you can go to the 5 Companies with the Best Benefits and Perks.
In today's dynamic business environment, attracting top talent requires more than just competitive salaries; it demands a comprehensive benefits package that will address the diverse needs of a modern workforce. Companies that offer various perks not only enhance their attractiveness as employers but also leverage these benefits as strategic tools for business growth and sustainability.
This is evidenced by the fact that organizations recognized for their superior employee benefits often report lower turnover rates, translating to significant cost savings in recruitment and training. According to the Society for Human Resource Management (SHRM), 56% of US employees consider employer-sponsored health benefits when deciding to stay in their current job. When it comes to identifying the best employee benefits companies, it's important to explore various sectors, including tech giants and manufacturing firms. This helps in understanding how innovative benefits can shape business outcomes and employee satisfaction. The companies that lead in this realm not only offer traditional perks but also prioritize the holistic well-being of both full-time and part-time employees.
Workplace Evolution: Changing Expectations of Today's Workers
A Microsoft survey from 2021 found that 41% of workers globally were thinking about leaving their jobs within the next year, showing how people's expectations from their workplaces are changing. Health benefits are now crucial for employee satisfaction, as highlighted in another 2021 Glassdoor survey where 40% of the respondents said health insurance is the most important benefit. Furthermore, the desire for flexible work is also growing. In a 2022 FlexJobs survey, 56% of participants said they'd consider finding a new job if remote work options were taken away. Companies like Alphabet Inc. (NASDAQ:GOOG), Microsoft Corporation (NASDAQ:MSFT), and Salesforce (NYSE:CRM) are adapting to these changing needs of employees by introducing flexible policies.
At Google, a key player under Alphabet Inc. (NASDAQ:GOOG), there's significant emphasis on creating a rich workplace culture and extending a wide range of benefits to its employees. This commitment has consistently positioned Alphabet Inc. (NASDAQ:GOOG) at the top of employee satisfaction surveys, highlighting the importance of employee well-being in achieving organizational excellence. This has also helped improve Alphabet's financial performance, with the company achieving a remarkable 13.49% growth in revenue in the final quarter of 2023. Similarly, Microsoft Corporation (NASDAQ:MSFT) also prioritizes employee benefits and is one of the companies with the best health benefits. With perks like healthcare, parental leave, and development opportunities, Microsoft has created a workplace that promotes a positive culture and boosts innovation and productivity. This approach has been vital to Microsoft's ongoing financial success, consistently reaching a market capitalization of over a trillion dollars. Salesforce (NYSE:CRM) is another company that promotes a deep sense of unity and community among its staff. Salesforce's commitment to its employees is evident in its low attrition rates and high satisfaction scores. With consistent year-over-year growth, Salesforce (NYSE:CRM) remains a leader in the customer relationship management sector.
Here’s what Vulcan Value Partners said about Salesforce (NYSE:CRM) in its Q4 2023 investor letter:
“Salesforce, Inc. (NYSE:CRM) is the world’s leading SaaS vendor for customer relationship management (CRM) and salesforce automation (SFA) software. The company offers many other products including software for marketing automation, customer service automation, analytics, application integration, and enterprise collaboration among others. During the quarter, Salesforce increased guidance for the fiscal year including higher revenue growth, higher free cash flow growth, and higher operating margins. The company also indicated it is seeing a less measured buying environment and more business opportunities, indicating the macro environment is getting relatively better for them. Salesforce is deeply entrenched within its customer base, has high retention, high recurring revenue, and is a very scalable business with high margin potential. Salesforce is dominant across its offerings and is constantly innovating with new products, features, and artificial intelligence to deepen customer relationships and grow the business.”
A headshot collage of employees indicating the company's diversity and innovation.
Our Methodology
To shortlist the 25 companies with the best benefits and perks in 2024, we consulted a number of credible sources, such as CareerAddict, Fingerprint For Success, and BetterUp. Utilizing equally weighted metrics such as employee rewards, discounts, bonuses, paid time off, retirement plans, remote work policies, paternity/maternity leave, insurance programs, and company equity, we calculated a unique Insider Monkey average score for each company. To assign scores for each of the metrics, we consulted the companies’ websites and sources like Glassdoor and Comparably to gain comparative ranking details about the perks and benefits being offered. The 25 companies with the best benefits and perks have been ranked in ascending order of their average scores out of 100.
By the way, Insider Monkey is an investing website that tracks the movements of corporate insiders and hedge funds. By using a consensus approach, we identify the best stock picks of more than 900 hedge funds investing in US stocks. The top 10 consensus stock picks of hedge funds outperformed the S&P 500 Index by more than 140 percentage points over the last 10 years (see the details here). Whether you are a beginner investor or professional one looking for the best stocks to buy, you can benefit from the wisdom of hedge funds and corporate insiders.
25 Companies with the Best Benefits and Perks
25. Accenture
Average Score = 79%
Accenture is known for offering excellent health care benefits, which ensure employees and their families are well taken care of. They also provide many opportunities for learning and career advancement, showing a strong commitment to employee development. Generous parental leave policies make it easier for new parents in the company to balance family and work.
24. Bank of America Corporation (NYSE:BAC)
Average Score = 80%
Employees at Bank of America Corporation (NYSE:BAC) enjoy comprehensive retirement plans. Bank of America Corporation (NYSE:BAC) also offers exclusive employee discounts and has a variety of wellness programs aimed at maintaining physical and mental health, emphasizing the importance of a healthy work-life balance.
23. IKEA
Average Score = 81%
IKEA helps its employees live in an eco-friendly way by giving rewards for making sustainable choices. Workers also get big discounts on IKEA stuff, making it easier to do home improvements. The company cares about work-life balance and offers flexible schedules to fit personal needs.
22. Cisco Systems, Inc. (NASDAQ:CSCO)
Average Score = 84%
Cisco allows its employees to work flexibly and adapt their schedules to fit personal commitments. Health and wellness centers are available on-site, making it convenient for employees to take care of their health. Financial benefits and stock options are also part of the package.
21. NVIDIA Corporation (NASDAQ:NVDA)
Average Score = 85%
At NVIDIA Corporation (NASDAQ:NVDA), employees are offered high health and wellness benefits. Stock options are also available, aligning employee success with the company's performance. NVIDIA's commitment to employee well-being is evident in its wide range of benefits.
20. Riot Games
Average Score = 85%
Riot Games offers a unique work environment that blends creativity with comprehensive wellness support. Employees enjoy perks related to gaming, which helps create a fun and engaging workplace.
19. Amgen (NASDAQ:AMGN)
Average Score = 85%
Amgen provides competitive health care and retirement benefits, ensuring long-term security for its employees. The company's tuition reimbursement program is a testament to its commitment to ongoing learning and professional growth. Employees are supported in their career ambitions and personal well-being.
18. Microsoft Corporation (NASDAQ:MSFT)
Average Score = 87%
Microsoft Corporation (NASDAQ:MSFT) is celebrated for its extensive health benefits and employee discounts on products and services. The company's generous parental leave policies support families during important life events. Microsoft Corporation (NASDAQ:MSFT)'s holistic approach to benefits reflects its dedication to ensuring employee satisfaction and well-being. Microsoft is in the eighteenth position on our list of companies with the best benefits and perks.
17. SAP
Average Score = 87%
SAP offers flexible working hours, allowing employees to manage their professional and personal lives more effectively. The company's health and wellness programs are designed to support overall well-being, while different learning opportunities encourage professional growth. SAP's employee-focused policies create a supportive and dynamic work environment.
16. Alkami Technology
Average Score = 88%
Alkami Technology fosters a collaborative work culture with competitive benefits that cater to employees' needs. Career advancement opportunities that support professional growth are readily available.
15. eXp Realty
Average Score = 88%
eXp Realty's innovative remote work model offers unparalleled flexibility, allowing employees to work from anywhere. Equity awards and health benefits demonstrate the company's investment in its employees' success and well-being.
14. Calix
Average Score = 89%
Calix encourages innovation among its employees. The work environment is lively, and the company provides good benefits. Employees get stock options, making them feel like they're part of the company's success. Calix cares about its employees and creates a supportive and growth-focused atmosphere.
13. Meta Platforms, Inc. (NASDAQ:META)
Average Score = 89%
At Meta Platforms, Inc. (NASDAQ:META), they offer various perks like free meals and on-site health services to make the daily work experience better. With generous leave policies, employees have enough time for personal matters, showing that the company values work-life balance. Meta Platforms, Inc. (NASDAQ:META)'s benefits aim to support a diverse and inclusive workforce.
12. Netflix, Inc. (NASDAQ:NFLX)
Average Score = 89%
Netflix is known for its culture of trust, offering unlimited vacation days and flexible schedules to accommodate different working styles. The company's support for families is extensive, with comprehensive leave policies for new parents. Netflix's approach to employee benefits emphasizes autonomy and personal responsibility.
11. Toast
Average Score = 90%
Toast's vibrant company culture is supported by competitive health benefits and stock options that help attract and retain talent. Toast values the well-being and growth of its employees, making it a desirable place to work.
10. VMWare
Average Score = 90%
VMWare places a strong emphasis on wellness and professional development, offering programs that support both. The company encourages community involvement to provide a sense of purpose beyond the workplace.
9. Alphabet Inc. (NASDAQ:GOOG)
Average Score = 90%
Alphabet Inc. (NASDAQ:GOOG) offers an impressive range of benefits, including wellness centers and generous parental leave, setting a high standard for employee care. Alphabet Inc. (NASDAQ:GOOG)'s culture promotes innovation and well-being, with a wide range of services and programs available to staff. Google is among the top 10 companies with the best benefits and perks.
8. HubSpot
Average Score = 91%
HubSpot provides generous vacation and remote work options. This helps employees strike a balance between work and personal life.
7. Salesforce
Average Score = 91%
Salesforce offers volunteer time off and wellness reimbursements. Furthermore, the company’s comprehensive health benefits ensure that employees have access to the care they need. Salesforce's approach to benefits reflects its values of giving back and supporting its workforce.
6. Fast Enterprises
Average Score = 92%
Fast Enterprises creates a friendly and engaging workplace with health benefits and social events that build a strong community. The company's balance between work and social activities contributes to a positive and supportive environment.
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Disclosure: None. 25 Companies with the Best Benefits and Perks is published on Insider Monkey.