Salary isn’t everything. Sure, it pays the bills, but it doesn’t necessarily win hearts. Today’s workforce expects more from their employers than just a paycheck. They’re looking for value. They want to feel that the company they work for cares about their well-being, supports their goals, and respects their individuality.
This is where voluntary benefits come in. Offered as optional perks, often at group rates or subsidized by the employer, voluntary benefits can make your company significantly more attractive in a fiercely competitive talent market. Done right, they help attract, engage, and retain top talent. They’re no longer “nice to have”, they’re strategic.
But, and here’s the big catch, you can’t just copy-paste a benefits plan from another company and hope for the best.
Why? Because your industry is different. Your workforce thinks differently. Their priorities, demographics, income levels, and personal goals are not the same as those of another company’s employees. Even your budget is different.
Choosing the right voluntary benefits means being intentional, strategic, and employee-focused. And in this blog, we’ll show you how to do exactly that.
Understanding the Types of Voluntary Benefits (And When to Offer Them)
Voluntary benefits span a wide range. Here’s a breakdown of the most common categories, and some insight into when they might make sense and when they don’t.
1. Health & Wellness Benefits
- Examples: Dental, vision, supplemental health insurance, mental health support, gym memberships.
- Best For: Companies with high healthcare costs, or where employees value holistic wellness.
- When Not to Use: If your core health insurance plan is already robust, offering too many add-ons may create overlap or confusion.
2. Financial Protection Benefits
- Examples: Life insurance, disability insurance, legal services, ID theft protection.
- Best For: Industries with high-risk jobs or workforces with family dependents.
- When Not to Use: When the base compensation package already includes comprehensive financial safety nets.
3. Lifestyle Benefits
- Examples: Pet insurance, commuter benefits, flexible work arrangements, student loan repayment.
- Best For: Urban, younger, or digitally-savvy workforces who value personalization and flexibility.
- When Not to Use: In more traditional or rural work settings where these options may be underutilized or logistically difficult.
4. Career & Learning Benefits
- Examples: Tuition assistance, learning platforms, certifications, mentoring programs.
- Best For: Growth-minded companies and industries where upskilling is critical.
- When Not to Use: If employee turnover is high and the ROI on education investments is unlikely to be realized.
How to Select the Right Voluntary Benefits for Your Employees
The key word here is right. Not trendy. Not what your competitors are doing. Not what looks good on a recruitment brochure.
1. Start With an Internal Survey
What do your employees actually want? Don’t guess. Ask.
- Use anonymous surveys to collect input on desired benefits.
- Break data down by age, department, life stage, etc., what a 24-year-old coder wants may not align with what a 45-year-old manager values.
Pro Tip: Include open-ended questions to catch ideas you didn’t think to offer.
2. Understand Your Budget & Capacity
Voluntary benefits may be “optional,” but they still come with costs, both in money and administrative effort.
- Identify which benefits can be 100% employee-paid, partially subsidized, or fully covered.
- Consider the HR resources required to manage them. Automation and third-party platforms help, but you need a plan.
3. Know Your People
Not just job titles, your people.
- Are they mostly parents? Singles? Remote workers? Frontline employees?
- Cultural values, education levels, tech-savviness, and even geographic location influence what benefits will resonate.
4. Align With Company Goals
Benefits should support your broader mission.
- Want to be known for innovation? Offer tech-forward learning benefits.
- Focused on wellness? Go beyond gym discounts, offer mental health days or stress management support.
5. Evaluate Regularly
Needs change. So should your offerings.
- What worked two years ago might feel stale or irrelevant today.
- Conduct yearly benefit satisfaction check-ins and watch usage data. Low enrollment? That’s feedback.
Conclusion
Voluntary benefits aren’t just extras, they’re a mirror of your company’s culture, values, and priorities. Offering the right mix tells employees: we see you, we hear you, and we care about what matters to you. Alongside these perks, remember that Compliance Prime offers HR compliance webinars led by industry experts—another way to demonstrate that employee well‑being and regulatory know‑how go hand in hand.
The trick is to stop thinking about benefits as boxes to check and start treating them as tools to build a workplace where people actually want to stay, and grow.
So, listen to your team. Balance their needs with your business reality. Be bold enough to be different. And smart enough to be thoughtful.
Because in a world where talent has choices, the right benefits might just be your best recruiting tool.
