From interviewing hundreds of applicants each month, I can say with confidence the type of benefits a company offers can make or break the quality of candidates you attract. It's one of the most asked questions I receive.
While not everyone is motivated by the same thing, there are some commonalities that companies can put their own creative twist on to further stand out from the competition.
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According to a study conducted by Glassdoor, 3 out of 5 (57 percent) of professionals cite benefits and perks as being a top consideration when selecting a job. Of these, vacation and time-off policies consistently rank within the top three incentives that make the biggest impact when deciding to accept an offer.
With more companies looking for ways to meet these demands through competitive compensation packages, it isn't surprising to see travel-inspired benefits become more and more popular. If done right, these incentives can complement traditional vacation benefits while providing a more enriching work-life balance at little or no cost to the employer.
Travel also has positive cognitive advantages, contributing to company satisfaction and productivity levels. It provides a much-needed mental break for our society of overworked and stressed-out personnel, often allowing them to return to work feeling refreshed and inspired.
There are many styles of travel-related perks to consider when putting together a more modern employee perquisite, each with their own set of pros and cons:
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Travel discounts: These programs connect your workforce with exclusive discounts on airfare, hotels and attractions — typically at no cost to the employer.
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Work abroad programs: Companies are expanding their horizons with work abroad programs where they allow employees to choose their office location from anywhere in the world — either with or without room and board allotments.
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Vacation stipends: Taking paid vacation days to the next level, some businesses are footing the bill with annual vacation stipends — this is particularly popular with the travel industry, creating a more authentic and inspiring work experience.
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Adventure days: It's all about the positioning here. This incentive is essentially two to three bonus vacation days that are used to engage employees with the company's core industry and/or values, such as getting outdoors or volunteering.
Related: Employees leaving $272 billion of vacation on the table
My advice for exploring a travel-based benefit: take a close look at your company culture and what motivates your employees. Chances are, you'll find some similarities that will lead you to a decision that is both cost-effective (or free!) and valued by your crew. A win-win on both sides.
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