Voluntary Benefits

Voluntary benefits mean that employers provide some of the optional additional perks and offerings to the employees that are usually partially or fully paid by the employees themselves. These features broaden standard employee benefits packages and are personalized to meet each employee's preferences and requirements, better employee satisfaction, loyalty and their overall well-being. Voluntary benefits may include anything from additional insurance plans, wellness programs, flexible spending accounts, to discounted gym memberships and commuter benefits.

Example of Voluntary Benefits

The tech startup which provides a comprehensive voluntary benefit package will complement the core benefits package. The employees can apply for extended benefits e.g. pet insurance, identity theft protection, and financial counseling services that are deducted from their salaries. Besides, the firm provides access to wellness initiatives such as yoga classes, meditation workshops, and delivery of healthy meals, promoting employees to make their health a priority. Through voluntary benefits that are customized to distinct employee interests and lifestyles, the company boosts its brand as an employer, attracts the best personnel and promotes a culture of employee-centeredness and overall health.