Why these 3 NYC tech companies still take traditional benefits seriously

by Liz Warren
October 22, 2018

A company’s perks and benefits can sometimes be what pushes a candidate to sign an offer letter. But when it all boils down, what are the benefits that really seal the deal? It could be that in-office ping pong table or the elaborate happy hours that some companies offer. On the other hand, it could be the 401(k) matching program or all-inclusive health benefits — the traditional, less flashy perks — that can make a huge impact on an employee’s life. We talked to talent professionals at a few NYC tech companies who explained that it’s often a mix of the two.

 

Justworks
image via justworks

An HR platform that provides enterprise-class benefits at affordable prices, Justworks makes sure that the team practices what it preaches. Senior Recruiter Will Klaynman explained that it’s important to mix in traditional benefits with all of the modernized perks the company offers.

 

While some companies substitute 401(k) matching and top-flight health coverage for trendier perks, your company has decided to invest heavily in traditional benefits. Why is that?

I think it's important to offer a diverse spectrum of benefits to team members — some modern and some traditional. Some of the more modernized benefits Justworks offers include free Citi Bike and One Medical membership. It helps our employees cut costs and stay active and healthy.

That said, there's always going to be value in offering competitive medical benefits. Give people plenty of plan choices, rich options for both individuals and families and be generous in covering the premium cost for your employees. Still, once you've got that in place, there's much more you can do to attract top talent and take care of your team.

 

How do those perks help you find great people?

As a recruiter, when your company's benefits and perks have a clear value proposition, it helps. It's a win if they make things that are painful or mundane — like a morning commute or a visit to the doctor — easier and more fun. If you can offer that sort of value, you have a better chance of connecting with the right people and ultimately interesting them in learning more about the role.

In short, people are different and have many different needs. Some live close, some far away, and some have children they take to and from school before work. Whatever the case may be, you need to be flexible and make sure the benefits you provide are inclusive of people in many different situations. Having a mix of modernized and traditional offerings are one way we ensure this.

 

custora
image via custora

Marketing tech company Custora helps companies take care of their customers. Likewise, the company strives to take care of its own team by offering perks and benefits that their workers need. Talent Acquisition Lead Nathalie Rodriguez went through their employee offerings.

 

While some companies substitute 401(k) matching and top-flight health coverage for trendier perks, your company has decided to invest heavily in traditional benefits. Why is that?

I'd say we have a mix of both traditional and trendy perks. Our thought process consists of a few benchmarks — what are things people often worry about in their day-to-day that we can alleviate through our benefits, and what are things that in hindsight would be really practical and fun?  

Full coverage healthcare is something we feel strongly about, mainly because it’s a big area of concern when you think about the current political climate. We also offer 401(k) plans and equity. While we don’t currently have tuition reimbursement benefits, we do provide annual education stipends for those who want to learn and feed their intellectual curiosity. These traditional perks are incredibly important and beneficial to our team.

 

How do those perks help you find great people?

Great people are often active in their searching, and as employers, we often have to compete for their attention and commitment. Offering benefits that genuinely help the people on our team is one way to make us even more appealing as a company.

 

groundtruth
image via groundtruth

A location platform that helps companies drive business performance, GroundTruth is always thinking about new ways they can make their employees' lives easier. Corporate Recruiter Lauren MacArthur walked us through some of the perks and benefits the company offers.

 

While some companies substitute 401(k) matching and top-flight health coverage for trendier perks, your company has decided to invest heavily in traditional benefits. Why is that?

At GroundTruth, we invest heavily in both traditional benefits and trendier perks. We offer daily catered lunches and fully-stocked kitchens while still providing our employees with robust health coverage including 100 percent covered premiums and a 401(k) employer match program. We feel it's important to invest in both to make sure we're supporting every facet of our employee’s life. Providing a comprehensive benefits plan ensures we’re attracting talent, increasing loyalty and retention, and improving focus and productivity. It shows our employees and prospective candidates that we are invested in their health — whether it be physical, emotional or financial.

 

How do those perks help you find great people?

Employees are our most valuable asset. Thus, the perks and benefits we provide are essential to creating a thriving workplace in which employees feel satisfied inside and outside of the office. Our perks and benefits show prospective candidates that we care about their personal well-being. Not only are we able to provide candidates with a clear career path, but we are also able to provide a better quality of life and create a mutually beneficial relationship between us and our future employees.

 

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