15 companies that expanded employee benefits in 2023

December 18, 2023 5:30 AM

As we head into the new year, most organizations are cautiously eyeing their 2024 budgets. Coming off of 2023 — a tricky year for any organization — employers are looking to trim costs. Will robust benefits be sacrificed?

Not if we learned anything this year. Plenty of companies large and small doubled down on providing inclusive benefits that support diverse workforces with varying needs. Who did it — and how did they do it?

Listening tours, lunch-and-learns, pilot programs and employee surveys helped guide savvy businesses to the benefits most-wanted by their workforce. Check out the notable expansions below, from Kickstarter and Nvidia to Chobani and Bank of America.

Kickstarter

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Kickstarter is officially on a 4-day workweek after a successful pilot

Global fundraising platform Kickstarter adopted a four-day workweek after testing the reduced schedule during a six-month pilot conducted from April through October of 2022. Partnering with 4 Day Week Global, a nonprofit organization dedicated to helping businesses move to a 32-hour workweek, Kickstarter worked to give its employees a three-day weekend, with most of its workers now only working Monday through Thursday.

"If you can give people a whole day back, they can spend more time with their families or resting or volunteering," says Jon Leland, chief strategy officer at Kickstarter. "That is just so immensely valuable to everyone in the company."

Ally

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At Ally, financial wellness benefits include 100 free shares of stock

Stock purchasing options are a great way to sweeten employee benefits, but they're not always within financial reach for every worker. Which is why Ally Financial took a more direct approach: Each employee at the bank receives 100 shares of company stock through the #OwnIt program.

As of 2022, approximately 35% of public companies provided employee discounts on stock-purchase programs, according to SHRM, with one-third of decision makers saying the incentive was to acquire and keep talent. But for many workers, especially in turbulent financial times, investing money in stock options is low on the list of ways to spend their earnings. By offering the stock for free, Ally sought to take the guesswork out of it.

"Many companies offer a stock purchase plan, but this was really different," says Gwen Gollmer, Ally's executive director of benefits. "We wanted to build an owner's mindset, and the easiest way to do that is to make sure every employee is an owner. Not only is this great for them, but it drives business results and it also drives shareholder value.

Bank of America

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Benefits in action: At BofA, a month off work is good for employees — and the company

In early 2023, Seema Jones took four weeks off from her job at Bank of America to spend some long overdue quality time with family. While her boss texted her a few times throughout her break, it was never to discuss work — it was to make sure Jones was having a nice time, and to ask her to share some pictures of the trip.

"I didn't receive a single phone call for work," says Jones, a California-based market operations team manager for the bank. This winter, thanks to a newly-launched sabbatical program at Bank of America, she traveled with her mother and toddler son to Las Vegas to spend a month with her grandmother, whom her son had never met because of COVID. "I was able to have the most peaceful sabbatical."

Bank of America launched the new sabbatical program in 2023, and uses it to celebrate milestones: After 15 years with the company, an employee can take a four-week break; after reaching 20 or 25 years, five weeks are available; and after 30 years, six weeks is available. A total of two sabbaticals may be taken within an employee's tenure at Bank of America. Since January, 5,000 employees have taken advantage of the offering.

Allstate

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Allstate's returnship program ensures career breaks aren't career enders

A resume gap shouldn't be a career-ender.

Whether employees leave the workforce to raise kids, switch careers, pursue education or manage a myriad of other interruptions, a brief break often translates into an endless struggle to get back on track. Career breaks can lead to lower salaries, lost wages and fewer opportunities for career advancement long-term.

Insurance company Allstate is now offering a 16-week returnship program — participants receive training, education, mentorship and support, with the possibility of an eventual job offer. The company began with a pilot program in 2021 focused on tech and IT employees, and has since brought in several cohorts of returnship participants, with plans to expand to more departments.

Chobani

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Chobani partners with WeeCare to expand child care and elder care benefits

Chobani recently announced the launch of its partnership with WeeCare, a leading child care provider, to provide expanded child care and elder care benefits for all full-time U.S. employees.

All U.S. employees, from manufacturing to corporate, will now be eligible to receive backup care credits and a $1,200 annual cash stipend for child care or elder care costs. WeeCare's network of care providers connects employees nationwide with close-to-home options that may meet their needs.

"After conducting listening sessions with our workforce, we learned that child care was an important need for them," says Shari Eaton, chief people officer at Chobani. "Many were faced with the challenge of finding care that was not only affordable but also high-quality. We were impressed by WeeCare's mission to make child care accessible to all families."

Read more:

Why Chobani increased its minimum wage to $20 per hour

Tito's Handmade Vodka

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Vodka to veggies: Tito's distillery brings fresh produce to its employees

On the outskirts of Austin, Texas, Tito's distillery produces vodka to be sold worldwide. But for its employees working or living in a food desert, the company wanted to provide something else: fresh, free produce. So in 2017, they built a farm on the property that would eventually inspire community gardens across the country.

By making access to healthy food a priority at the distillery, Tito's not only saved their employees money and time, but they added to their employee wellness benefits. To help them get started, they brought in a regenerative farmer and, after overcoming a steep learning curve, succeeded in building what is now home to over 25 varieties of fruits and vegetables that employees can eat at work and take home to their families.

"We're vodka producers, not farmers, so we had to learn a lot," says Amy Lukken, chief joyologist at Tito's. "We built 74 raised concrete beds and 16 hoop houses after that. We've got an onsite soil lab where we're able to test everything and play around with it, and we're learning everyday, which has been fun. We have seven full-time farmers — Tito's employees — who grow the food."

Nvidia

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How to introduce menopause benefits to the workplace

According to a 2021 survey from telehealth company Gennev, 99% of women experiencing menopause don't specifically have supportive benefits at work. Software company Nvidia didn't want its employees to be a part of that majority, especially when its women's employee resource group came to leadership asking questions about getting menopausal support.

"When we went back to our carriers they essentially told us that employees' providers were the ones that needed to assist them with health issues," says Denise Rosa, benefits manager at Nvidia. "We dug a little bit deeper and figured that it would be best for us to find that third-party solution that would be able to support our employees and meet them where they are in whatever stage of life they're in."

Aon

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'Earn and learn': Aon is investing $30 million in apprenticeships to recruit new workers

Aon is investing $30 million to expand its apprenticeship program, with the hope it creates 10,000 corporate apprenticeships by 2030 across even more employer partnerships. The financial services company launched their Chicago Apprentice Network along with Accenture and Zurich in 2017, with just 75 apprentices across the three companies. Currently, the program boasts over 2,000 apprenticeships from over 140 companies across 18 industries.

While apprenticeships are often associated with trade work, Aon has set out to prove just how valuable it is to teach future "knowledge workers" the needed skills onsite while still paying them for their time — and in turn, do away with four-year degree requirements.

"Traditionally, there's this requirement of a four-year degree before getting into an organization, but as we all know, that doesn't always equate to knowing how to do the job," says Shantenae Robinson, public affairs manager for Aon's global eco-systems and apprenticeship program. "An apprenticeship is an opportunity to earn and learn."

Gympass

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Mind-body connection: Gympass adds Headspace to employee benefits plan

At well-being benefit platform Gympass, a recent partnership with mindfulness and meditation app Headspace is helping employees connect both their mental and physical selves. Headspace will now be available to Gympass's own employees, as well as their 15,000 employer partners, providing meditation tools, sleep help and other mindfulness exercises.

Gympass has been expanding their platform beyond gym memberships and fitness classes throughout the pandemic, and this new partnership was an important step to addressing the challenges employees have gone through over the last few years, says Livia de Bastos Martini, the company's chief people officer.

"Well-being is the key topic for any person in HR right now," she says. "How do we tackle the isolation from remote work, or the lack of an office for people to socialize? We want to have as many different activities and alternatives so people can tackle their own mental health."

Read more:

Gympass and Lifesum bring hormonal health to employees managing menopause

Haberman

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This marketing agency pays employees $1,000 to pursue their hobbies

It can feel impossible to fit in hobbies or personal interests amid a never-ending to-do list. Yet attaining work-life balance is essential to fostering happy and fulfilled employees, and Haberman, a Minneapolis-based marketing firm, is giving employees a necessary nudge.

The company offers a passion project program — employees who have worked at the firm for at least a year are eligible for $1,000 and three days of PTO to pursue an interest or hobby outside of work. Employees then present their projects to the team, inviting the staff to learn about something new and get to know each other on a more personal level.

Sarah Haberman, who co-founded the company with her husband Fred, says the company has always facilitated an environment of learning and exploration. Her husband pursued his own passion for hockey in 2005 by creating a local pond-hockey championship, which became an annual event held in their community. That led to other programs facilitated by the organization, like growing an organic community garden. Sarah herself has pursued a certification in equine learning and has held workshops with the Haberman team where they spend time with horses.

Andersen

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Sending employees back to school: Andersen launches customized, free MBA program

Tuition-assistance benefits are trending across industries, but at financial services firm Andersen, they're taking it one step further: A fully-funded MBA.

According to education.org, the current average debt of a Master's degree holder is $80,494, over $60,000 of which is from school alone. Coupled with the financial uncertainty of today's economy and the cost of housing, an investment of this size feels out of reach for many, regardless of the payoff. Andersen's Enterprise MBA program, in collaboration with the University of San Francisco, will help offset those costs and is available to the company's global workforce of 13,000 employees.

"We have a long-standing history with USF through our CEO, and that relationship has provided a unique opportunity to collaborate on these program offerings that are hugely relevant to our business," says Nancy Power, head of HR at Andersen. "This is really an option for individuals who are pursuing advanced degrees in general business administration and want to re-skill in those areas as well."

Prudential

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Management training is key to Prudential's mental health strategy

Prudential has been working diligently to address the mental health and well-being of their 41,000-person workforce: that involves a partnership with mental health provider Lyra, as well as continuous leadership training to help identify employee needs and combat mental health stigma.

Additionally, the company has instituted recharge days and meeting-free Fridays to help people balance their work responsibilities and maintain healthy balance.

Betenbough Companies

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Amid a cancer battle, this CEO is building holistic health into his company's plan design

When Rick Betenbough was diagnosed with stage-four pancreatic cancer nearly two years ago, he headed south of the U.S. border in search of alternatives to chemotherapy and radiation.

Among the medical treatments the CEO of Betenbough Companies received at a clinic in Cancun, Mexico: sound and light infusions not covered by traditional health insurance; cold-pressed juice and nutritional supplements as part of a heavy enzyme and detox treatment for cancer and degenerative diseases known as the Gonzales Protocol; and vitamin D therapy on the beach and Bible study devotionals.

Betenbough has seen enough progress that he's been inspired to promote holistic health for his 345 employees and their family members. The company's health "assurance" initiative was rolled out in January 2023, layered on top of a self-insured group health plan that covers nearly 700 lives. More than half of those plan participants have registered for an account to participate in voluntary wellness programs, which include subsidizing 80% of the cost for blood work, a consultation to discuss the results and recommended actionable items.

Checkr

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When upskilling benefits went unused, Checkr redesigned its program to empower employees

Despite a large annual learning stipend per employee, global tech platform Checkr was only using 2.5% of their annual learning budget as of 2020, and found employee participation in L&D options painfully low. To course correct, the company partnered with upskilling platform Degreed, which offers a Learn In program that gives employees access to a learning wallet to use at their discretion, as well as a suite of courses and programs to participate in. A personalized card is available for all global full-time employees, and once a requested program is approved, funds are added to the card for the employee to use.

"This year in January, every employee was reset to $3,000," says Jamal Smith, senior L&D specialist at Checkr. "Before Learn In, that same benefit was available, but you had to come out of pocket and search for those learning opportunities. It can be daunting to think about the various providers and courses and programs out there, and the bigger issue was you had to be reimbursed. For some people, coming out of pocket $500 or $2,000 isn't feasible."

Poll Everywhere

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Why this company reinstated a 4-day workweek for the summer

Robert Graham, CEO of software company Poll Everywhere, has helped initiate another summer of four-day workweeks. First trialed in the summer of 2022, Poll Everywhere decided to reduce their workweek to 32 hours again, giving employees three-day weekends all season long.

"Life is very much about how you spend your days," says Graham. "And it's not as if people are going to Europe every weekend, but somebody seeing their grandpa for the first time in a while or walking on the beach with their nephew — those things add up."