Employee benefits are also called fringe benefits and they are provided as non-cash benefits for employees for attracting and retaining them. The importance of providing employee benefits and perks are for attracting talent to weigh the value of the job, improving employee retention to remain in the company, fostering inclusive benefits like parental leave, floating holidays, domestic partner benefits and flexible scheduling, promoting a healthy workforce for caring and increasing employee satisfaction and loyalty. 10 Companies with the Best Employee Benefits and Perks
The 6 mandatory employee benefits in India are health/medical insurance, unemployment insurance, gratuity, employee’s provident fund (EPF), leaves and holidays and workplace security.
Employee perks are monetary and non-monetary benefits provided in addition to the pay portion. Paid time off, insurance provisions, wellness programmes, and more are a few examples.
Perks for employees can boost and support better levels of employee satisfaction. This results in productivity, which leads to increased success and expansion. Additionally, it helps businesses increase their market presence and recruit and keep better people.
Here are the Companies with the Best Employee Benefits and Perks –
10 Companies with the Best Employee Benefits and Perks
TCS
Tata Consultancy Services is a provider of IT services, business solutions, and consulting that has been working with some of the biggest corporations in the world for more than 50 years.
TCS offers a good working culture and working hours with the best employee benefits and perks which involves paid leaves, paid holidays, reimbursements for educational expenses, training, or credentials, insurance plans for a group’s health, centres for medical insurance, plans for life insurance for employees, memberships in a gym, health club dues, etc. It is given to retain the employees and keep them motivated. Excellent employee programs help to increase their productivity.
Google India
A non-government organisation, Google India Private Limited, was established on December 16, 2003.
Google India gives a huge salary to its employees, offers its best employee benefits and perks, which includes flexible working hours, which is one of the main reasons people want to join the company. Employees are motivated to work together as a team to find the best possible solutions. It also provides the best training to improve employee productivity.
Google India provides the best perks for its employees –
- It offers its staff free gourmet breakfast, lunch, and dinner.
- Get a break they deserve after becoming parents.
- Fathers and adoptive parents receive between seven and twelve weeks of paid leave, while new moms can take up to 22 weeks of paid leave. An incentive known as the baby bonding bonus is also given by the employer soon after a child is born.
- Additionally, the organisation offers free gym courses to its staff members who want to be active and healthy while working there.
Accenture India
It is a private limited non-government company founded on the 25th April 1991.
It is one of the foremost advisory companies in India, driven by originality and exceptional variety that combines creativity, intellect, and proficiency.
Accenture offers an opportunity to keep a good work life balance for their employees. To promote a healthy lifestyle among employees, accenture offers the best employee benefits and perks to their employees, which includes plans for group health insurance, a dental plan, disability protection, rewards in money, such as the employee share purchase program, the accenture discount directory, flexible spending accounts, flexible working hours, paid time off, and vacations, etc. Maintain productivity goals on a daily basis.
Additional programs include online fitness courses, wellness initiatives, and employee assistance programs.
Amazon India
It is a public company and it is an effective business strategy that cultivates a culture of productivity, innovation and success. It provides flexible working hours to accommodate personal needs with the best employee benefits and perks for their staff from the beginning of their employment. These comprehensive perks encompass medical coverage, maternity and paternity leaves, long-term savings, and additional support for overall welfare. It provides medical benefits, which consist of medical insurance, dental insurance, vision insurance, temporary and permanent disability insurance, retirement and financial perks etc.
Infosys
It is the top Indian company in the service sector and refers to their workplace as a centre of knowledge that offers the best employee benefits and perks to their employees as rewards. It takes care of the well being of its staff. The employees are content with the working conditions. It organises monthly social gatherings with enjoyable events. Gymnasium, pool, badminton, basketball court, yoga sessions, and various other leisure activities are available at affordable rates at Infosys. Additional perks consist of insurance schemes, collective health insurance, and comprehensive retirement plans.
It is a platform that helps to improve the productivity of the employees.
HCL
The company offers the best employee benefits and perks to their employees, ensures employee satisfaction and addresses their concerns. Essential necessities such as laptops, mobile phones, monthly expenses, and allowances are standard in this organisation. Staff members proudly proclaim that they enjoy the most favourable work environment and flexible working hours.
It is a productivity mindset that drives any association towards superior performance and development.There are no dress code restrictions and the company provides them with a platform for international exposure, promotes a culture of entrepreneurship, and prioritises its employees.
The perks include paid sick leave, maternity leave, paid holidays, and employer-sponsored family vacations.
Insurance plans and family welfare programs are available here. The company offers educational and training opportunities for its employees.
Gym facilities, yoga classes, sports activities, corporate wellness initiatives, and other recreational programs are provided at minimal costs.
Bharti Airtel
It offers the best employee benefits and perks to their employees with adaptable work choices to empower their employees to keep them motivated.
They are supporting budding business people to require charge of the commerce openings that go past the organisation.They are committed towards bringing their manager’s brand guarantee of occupations never done for some time in life. It was possible for the company to boost employee productivity. It offers flexible working hours in many of its offices.
Paternity and maternity leave are given to their employees for taking care of and look after the child.
Life is eccentric and they accept that the employees ought to be able to take their personal and expert lives forward in an all-encompassing way.
Wipro
It is a platform used to improve efficiency, productivity and to boost employee experiences and engagement.
Wipro offers the best employee benefits and perks to their employees, like paid holidays, maternity leave, and vacation to assist its employees in finding the ideal balance between work and life. The employees are also encouraged to participate in a variety of CSR projects. Wipro’s advising program, “Mitr,” helps representatives with conquering difficulties in their own and proficient lives.
It offers flexible working hours to its employees with good salaries and facilities.
CANON
The company gives the best employee benefits and perks to their employees and their families are encouraged to attend annual health checkups sponsored by Canon. Additionally, health camps are held frequently in the office building. The company provides insurance for the employees’ parents, spouses, and children, in addition to health and accident insurance. In the event of an accident, the accident insurance policy provides assistance to employees. Virtual working is available to front-line sales and service employees, allowing them to report in the field without having to go to the office for attendance or reporting. It offers flexible working hours and helps their employees get their job done with better productivity.
INTEL
The Intel employee benefit plans are meant to keep employees content and productive. Most employees meet all the requirements for two huge extra plans every year. Intel provides its employees with access to affordable and adaptable medical, dental, and vision insurance through a wide range of options. Every Intel worker is entitled to one year’s vacation. With time spent on assistance, more get away days might be given. Intel likewise offers monetary guidance for qualified representatives to finish degree projects, coursework, or endorsements that are associated with their profession to advance constant schooling. Most Intel grounds highlight nearby conveniences that offer recreation exercises including ball, volleyball, wellness focuses, exercise classes, and different things. So it offers the best employee benefits and perks to their employees. The extensive employee training and development helps boost their productivity. It offers flexible working hours for their employees.
Conclusion
All the above mentioned were the companies with the best employee benefits and perks. The benefits and perks are provided to attract talented employees. It helps employees to access necessary medical care and maintain a healthy lifestyle. Providing flexible working hours with no uniform restrictions helps to create a relaxed and enjoyable work environment. Employees feel valued and appreciated, which boosts their productivity. It helps the employees achieve their goals. All these factors help to increase job satisfaction.
F.A.Qs
What is the retirement (401k)plan ?
It is a component of a certified benefit sharing arrangement that allows employees to contribute a portion of their wages to individual accounts. There are two fundamental kinds of 401(k)s, conventional and Roth.
2. What is dental insurance?
Dental plans cover a scope of preventive and supportive consideration and techniques for employees and their dependents, whether total or at discounted rates, and frequently include two yearly dental tests, like two yearly teeth cleanings and one set of x-rays every year.
3. What is gratuity?
It is an amount given to employees for providing services to the company after completing five years of continuous service in a company.
4. Am I eligible to get a gratuity for working for four years to nine months?
No, you are not.
The employees are eligible for gratuity only if they have completed five continuous years of service for a company.
5. What are the paid leaves given to employees?
Paid leaves are the time that an employee takes leave from their job due to illness, vacation, or some other reasons without any pay deductions.
6. What are the benefits of medical insurance?
It provides coverage for dental, vision, and health care provided for the employee as part of a benefits package. It is the common workplace benefit that one might get at a job. Insurance for medical services involves regular precautionary tests, certain medicines/treatments, techniques and special cures. The employees get clinical consideration to improve health and maintain their wellness.
7. When an employee gets eligible for paid leave?
The employee who has worked for at least 240 days.
8. Does TCS have a marriage leave policy?
No.
9.What is Infosys annual leave policy?
It usually provides 15 to 20 days’ leave a year as Paid Time Off and vacation, with around 55% of employees expected to work free out of the workplace.
10. Give some examples of fringe benefits?
The examples are health insurance, family and clinical leave, employee remuneration and retirement saving funds plan.
