Creating a Positive Benefits Outlook: 4 Top Company Examples
Retaining employees today is a major nuisance for companies, as employees are becoming more proactive. It is more important than ever to take care of your employees by keeping them happy and satisfied. A good way to do that is by having a positive benefits outlook.
A positive benefits outlook simply means that you provide employee benefits that your employees consider good. If your employees are satisfied with your employee benefits package, they will have a generally positive outlook regarding what you provide, as an employer.
For example, multibillion-dollar companies like Chase are launching initiatives to reduce cost, improve access, and increase the quality of healthcare for their employees.
Similarly, other companies have also started to provide benefits packages that create a positive benefits outlook, to compete well in today’s job market. Here are some companies that have successfully created a positive benefits outlook.
Costco was founded in 1983 and is currently headquartered in Issaquah, Washington. The company has over 240,000 employees and is a membership-only warehouse club. The multinational chain is known in the US and globally for providing bulk items at extremely low prices, as well as, providing the well-known Costco credit card, which affords competitive discounts on products.
The company recently became the largest retailer of organic foods, wine, and meat in the world. Despite there being much more profitable industries, Costco beat them all when it came to benefits packages.
Costco achieved this by firstly giving an above-market rate salary to all its employees, even the new ones. There is no strictness based on working hours. You can come, do your job, and get paid for every hour you work at any given time.
The company is also known for providing some of the best insurance-based benefits with multiple options for employees. On top of that, Costco also provides benefits that complement other benefits like giving away free leftover stock over employee discounts.
All of this has created a positive benefits outlook in the eyes of Costco employees which is why they have a high retention rate.
Kaiser Permanente is a healthcare giant currently headquartered in Oakland, California. Kaiser was founded in 1945, and currently has over 200,000 employees across the US. It’s known across the US for delivering high quality managed care services, and is often the go-to company for medical insurance.
Considering that the company is a healthcare expert, it provides one of the best healthcare benefits in the country. All of the employees receive full medical insurance, including health, vision, dental, and mental health insurance.
The company also pays way above the average market salary and has a working environment built specifically for the employees. Most employees at Kaiser say that there is no better place to work.
The company has consistently focused on providing the best benefits and salaries in the industry. However, on top of that, they give their employees the option to choose several other benefits according to their needs and wants.
Overall, the feedback of the employees is very positive and has consistently created a positive benefits outlook in the eyes of the employees and also potential candidates.
Verizon is one of the biggest telecommunications giant with the goal of connecting the entire world. The company was founded in 2000 and is headquartered in New York City. As of 2019, Verizon has over 130,000 employees.
Verizon is known for its exceptional salary packages and benefits. It’s also known for its quick-paced work environment and the constant opportunities for advancement its employees get.
The company culture is very unique and not everyone adjusts to it. However, the employees that do adjust to the company tend to stay there. A lot of the employees have been working at the company since 2000.
Verizon is known to provide the best and most extensive set of benefits in the telecommunications industry. It has successfully created a positive benefits outlook in less than 2 decades.
Apple may very well be called the biggest and most well-known tech company in the world. It was founded in 1976 and is currently headquartered in Cupertino, California. The company currently has almost 137,000 employees.
Apple has one of the most devoted customer bases which is why it was imperative for them to make their employees just as devoted to the company.
Apple tends to pay higher than competitor companies and provides tens of benefits both on-site and off-site. The employees at Apple’s headquarters tend to receive way more benefits that come with the massive Apple Park building.
Benefits like on-site gyms and doctor offices are just some of the value-added benefits. The company also provides free fine dining, on-campus events, and work from home privileges. The company also provides education reimbursement and student loan assistance.
Along with its reputation and the extensive list of benefits, Apple has created one of the best benefits packages in the corporate sphere.