Common Types of Perk Stipends

Now that we’re all caught up on employee perk stipends, you might be wondering: what types of perks do people typically spend their money on? 

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As contemporary work culture continues to evolve, so too does the wants and needs of the average workforce. This means that for any perk program to properly satisfy your employees, it must meet all of their requirements. 

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In this article, we’ll take a look at some of the most common types of employee perk stipends, from health and wellness to professional development.

Health and wellness stipend

Whether one’s focus is body or mind, it’s never been more important for employees to prioritize their health and wellness. 

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While an in-office gym is often appreciated, it’s no longer enough to satisfy remote employees or individuals working in a hybrid setting. As such, these types of perks must be accessible to all, and include things such as gym memberships, fitness classes and workout gear.

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But physical fitness is only one side of the coin. Mental and emotional wellbeing are as or more important as any exercise one can do in the gym. As a result, access to meditation apps, self-help materials, and one-on-one sessions with mentors or career coaches is of utmost importance. 

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Possible perks include:

• Gym membership

• Peloton subscription

• Meditation apps

• Workout gear

• Books on healthy eating, fitness, mental health, etc.
  
  

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How these perks may be implemented:

• $1,000/year well-being subsidy

• $100/month wellness allowance

• $300/year health and wellness stipend

Learning and professional development stipend

In the wise words of Loyal “Jack” Lewman, “Never stop learning; for when we stop learning, we stop growing.”

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Many employees are in search of professional and personal development, looking for ways in which to add to their resume or skill set.

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As such, any well-meaning business will make sure to offer things such as online classes, career coaching, and books as a part of their employee perk program.

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Possible perks include:

• Books (physical and digital)

• Certificate programs

• Online and in-person classes

• Networking events

• Career coaching
  
  

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How these perks may be implemented:

• $20/month continued learning

• $2,000/year developmental stipend

• $1,000/year education course stipend

Equipment stipend

As more teams continue to go remote and businesses begin to consider hybrid office settings, equipment stipends will become the norm. 

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From office furniture to cell phone and internet plans, employees need the right tools to do their best work. 

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Possible perks include:

• Equipment for your work desk

• Furniture for your home office

• Internet stipend

• Cell phone stipend
  
  

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How these perks may be implemented:

• $3,000/year desk set-up stipend

• $200/month internet and phone stipend

• $1,000/your home office furnishing set-up

Family stipend

For working families, perk stipends can oftentimes help take the pressure off of busy work schedules and other personal commitments. With so much going on, it’s easy to feel like one is underwater or constantly operating on borrowed time.

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That’s why perks such as housecleaning, baby sitting, and dog walking come up so clutch. For employees this can be an absolute life saver, helping people to get back on track and become the productive people they know themselves to be.

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Perks include:

• Subsidized child care

• House cleaning services

• Education for children

• Meal kits for home

• Netflix, Spotify or Amazon Prime subscriptions
  
  

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How these perks may be implemented:

• $150/month child care stipend

• $1,000/year family stipend

• $20,000 surrogacy stipend 

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Travel/Experience stipends

COVID-19 has largely curbed this type of stipend, but in a pre/post-pandemic world, travel stipends are all the rage. Enabling your team to see new places and try new things is also an absolute leg up when it comes to attracting top-tier talent.

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Perks include:

• Airbnb rentals

• Hotel rooms

• Flights

• Rental cars

• Souvenirs 
  
  

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How these perks may be implemented:

• $1,000/year travel stipend

• $400/month vacation reimbursement