The labor market has been noticeably tight in 2017. But technology firms like Facebook, Tesla and Amazon are proud to boast engineers, scientists and other staff with gargantuan salaries, brilliant vacation benefits and unmatched work-life balance opportunities.
According to a recent LinkedIn survey, out of total 50 most desirable employers, about 50 percent belonged to the technology industry. Silicon Valley is known for providing all kinds of exciting and quirky employee benefits including free lunches, game rooms, nap pods and transportation. Glassdoor surveyed a group of workers in 2016 and nearly 57 percent said that they give significant importance to a company’s employee benefits scheme before signing and taking a final decision on the job offer.
Let’s have a look at the top technology companies that are on the wish-list of thousands of job seekers:
It doesn’t come as a surprise that Google yet again tops the list of the tech companies with the best employee benefits. This $75 billion worth tech giant is known for its luxurious perks such as laundry services, free gourmet meals, and haircuts. But besides these premium offerings, it also pays significant attention to some critical employee policies such as parental leave. When the company found that there was an increase in the exit rate of new moms, it decided to make a 50 percent reduction in the workload of working mothers.
Another well-acknowledged aspect of work life at Google is its culture. You will be surprised to read about town halls organized by black employees, unconscious-bias workshops and tremendous backing for all transgender workers in the organization. Google is one tech company that is actively fostering what is referred to as an “inclusive and safe” working environment all over the world.
It isn’t uncommon for companies to step up and pay for their employees’ gym membership. But offering a ‘Wellness Credit’ worth $100 to invest in any preferred self-care activity is probably the most unique and personalized health benefit offered by a company. Enter SalesforceIQ. This company acknowledges that each employee has their own idea of relaxation; it could mean a Zumba session, a game of golf or a short hiking adventure. SalesforceIQ has adopted the same approach for its volunteering program and allows its employees to pick a cause which they are genuinely interested in.
The software company provides six paid leaves each year to its employees, which they can use for any wellness activity they like. The monthly allowance for wellness is $100. This benefit has reported increasing the employee satisfaction in the company tremendously.
Spotify, the giant music streaming firm is perhaps the sole tech company that covers expenses associated with fertility assistance (egg freezing). The company also provides a 6-month paid paternity/maternity leave in addition to a ‘flexible working month’ option for all parents returning to work after childbirth. Glassdoor gave the company 4.2 overall rating for its employee benefits.
Is unlimited PTO a thing? Well, it’s an employee benefit that is slowly gaining immense popularity, especially among tech companies. But Atlassian, the software development firm, goes a step ahead and offers something known as “Vacay Your Way”. This version of PTO allows the company’s employees to take a leave whenever needed. There is a straightforward idea driving this benefit: life happens. You may not always need time off when you have collected the perfect PTO amount in your benefits account. Atlassian’s plans give you the freedom to use your leave to spend time with family, attend to your physical and mental health or meet any other essential needs/obligations.
Netflix, the famous online streaming company, is also high on the employee benefits list. The Los Gatos, Calif.-based TV streaming company offers up to one year of paid leave for new mothers and fathers, who can return part-time or full-time throughout that year, and take time off as needed. Netflix offers up to a year of paid paternity and maternity leave to its salaried workers. Also, it doesn’t keep a track of expense reports or vacations!
Another tech firm that has managed to make its way to the list of top tech companies for compensation and benefits is the peer-to-peer housing firm, Airbnb. The company provides an annual grant of $2,000 to all its employees. The employees can use this grant to plan a vacation anywhere across the globe, as long as they use the Airbnb listed lodgings.
Among the primary reasons employees love working in Apple is its huge stock grants, available to both part-time and retail workers. These grants can be utilized for investing in the business. The tech giant is popular for its excellent employee retention rate. It reports a nearly 10 percent annual turnover for its retail employees (the industry average is 80 percent).
Pinterest is the popular online scrapbooking platform used by social media lovers from nearly all age groups across the world. The little known fact about this inspiration-driven pinning site is that it has an excellent worker benefits program. In fact, Pinterest has one of the most innovative policies for parental leave that you may have ever come across. The company offers up to 3 months of fully-paid leave, an extra month of flexible part-time work, as well as some counseling sessions!