
Benefits have become the most significant differentiator in distinguishing forward-thinking companies from those struggling to keep pace. Year after year, the top companies on The Great Place to Work list consistently put the lives of their people first. That’s the difference.
This isn’t a recruiting trick; it’s the mindset of great leadership. Competitive wages, insurance and other traditional benefits aren’t enough to attract and retain high-level employees anymore. It all comes down to what companies offer and how they treat their employees compared to their competitors.
The best companies in the world aren’t laggards who offer bottom-tier benefits and call it good enough. They prove time and again that they care about the lives and personal well-being of their people: They challenge themselves to exceed industry standards.
Older, Traditional Benefits

Before diving into the substantive benefits offered by top-level organizations, executives must understand what the industry standards are, and of course, what it takes to exceed them.
This is where older, “traditional” benefits fit into the conversation. These are the most basic benefits that a company can offer. Some of them are expected. Some are required by law.
Benefits Required by Federal and State Laws
There are federal and state laws in place to protect the rights of employees, including regulations regarding various areas of employee compensation, including wage guidelines and unemployment benefits. There are also laws that regulate Medicare, Social Security benefits and Worker’s Compensation.
Under the Affordable Care Act, companies that employ 50 or more people full-time are required by law to provide health insurance and up to twelve weeks of unpaid, job-protected family and medical leave.
Meeting Industry Standards
Traditional benefits have become the definitive industry standard. Even companies that are far from being considered a “Best Place to Work” should offer them to stay at least moderately competitive. These benefits include:
Health Insurance, Medical Plans
Vacation Days and Paid Time Off (PTO)
Paid Sick Leave
Life Insurance
Disability Insurance
Stock Options
401K and Retirement Benefits
These benefits are the least a company can offer while still attracting employees. If an organization doesn’t provide some or all of these benefits, it can be a deal-breaker for most people.
Somewhat Newer, Middle-Tier Benefits

These benefits are similar to traditional benefits — they’re just better versions of them. Companies that offer these are doing a little bit extra to attract and retain high-quality employees and improve their employees’ lives. They include:
Vision Insurance
Dental Insurance
Required Vacations and Paid Time Off
Flexible Spending Accounts (FSAs)
Health Savings Accounts (HSAs)
Plus Traditional Benefits
Offering these benefits may show some effort, but it’s still missing the mark. The most qualified and high-demand employees are looking for much more than graduated versions of traditional benefits.
They’re searching for an organization that values their mental, emotional and physical well-being. They want to work for a company that cares about them as people.
If an organization or executive team wants to set itself apart, it needs to push the envelope and do something unexpected. It needs to offer benefits that will actually have a positive impact on an employee’s life in the here and now.
The Newest Benefits

If an organization wants to join the ranks of “Great Place to Work,” it must offer more than just basic to middle-tier employee benefits. In fact, it should start by asking some simple, fundamental questions.
How happy are their employees? Do they feel understood, valued and recognized? Do they believe their executives and supervisors see them as actual, living, breathing people and not just numbers on a spreadsheet?
Lifestyle Benefits: What’s the Difference?
Organizations have to change how they think about employee benefits. It’s not about pinching pennies and reinventing recruitment strategies. It’s about mastering employee retention by improving company culture and focusing on employee well-being.
Lifestyle benefits may not be required by law, but they might just have the most significant impact on an employee’s everyday life. They include:
Gym Memberships
Mental Health Services
Required Vacations
Subscription Services (Netflix, Hulu, etc.)
Grocery Delivery
Childcare (On-Site or Off-Site)
Gas Stipends
Education and Career Development Opportunities
Tickets to Events
Travel and Transportation Reimbursements
Maternity/Paternity Leave
The list goes on. Lifestyle benefits are explicitly crafted to improve an employee’s life in and out of work. Why? Because life is about so much more than the bare necessities of existence. It’s about more than just survival and the bottom line.
Most employees will actively search for companies that offer customizable benefits packages. A large percentage of people report that having the option to personalize their employee benefits to fit their lifestyle increased their job satisfaction. For instance, 83% of millennials said they would actually change jobs based on what lifestyle benefits are offered.
Lifestyle benefits foster a sense of community in the workplace, reduce everyday stress, create lifelong memories and give people unique and life-changing experiences. They also make people feel respected, recognized and cared for by their employers.
Personalized, Customizable Lifestyle Benefits

It would be fantastic if companies could offer every lifestyle benefit they could imagine, but, unfortunately, that’s not possible. They can’t provide everything.
Since organizations often employ people with varying needs and lifestyles, this can be limiting. With insufficient options, they’ll have to pick and choose which employee lifestyles they can actively support, which is not conducive to the personal growth of a diverse team. It can be frustrating, and even with the best intentions, a company can still fall short.
That’s where Fringe comes in.
The Advantages of Customizable Lifestyle Benefits

Fringe’s customizable benefits program gives people the opportunity to choose the benefits that will have the most significant impact on their life. This isn’t a one-size-fits-all approach. Instead, it’s an acknowledgment that no two people are the same, and as such, they may want different benefits.
The top companies in the world have embraced customizable lifestyle benefits because they understand that to create a loyal, mission-oriented and happy team, they must put the needs of their employees first.
Interested in getting started? Fringe’s lifestyle benefits platform enables companies to offer their employees a choice, giving every person the ability to personalize their benefits to fit their lifestyle. Talk to our team to schedule a free demo today!