You can bet that working for the world’s biggest social media network comes with a competitive compensation package. If you are interested in finding out what Facebook benefits its workforce goes home with, we’ve got you covered.
From healthcare to retirement funds, wellness incentives to healthy food, here’s what needs to be on your company lineup if you’re to attract talented employees like those who work at Facebook.
One of the best employee perks at Facebook is first-class health care insurance. Facebook pays 100% of every employee’s medical insurance, no matter the options they choose.
All plans include free preventative care and an extremely low out-of-pocket maximum per year, saving employees around $10,000 per annum.
Its healthcare insurance also covers extras such as a cancer care program, autism, and mental health care coverage.
Another impressive benefit is maternity care, which includes ultrasounds, pre and post-natal care, and paid leave of up to eight weeks.
While employees are able to enjoy these benefits, if they want their children or partners to be insured as well, there are additional costs involved that they’ll have to cover.
Offering outstanding health care insurance is a staple for any business and definitely shouldn’t be skimped on. Employee health and wellbeing are essential to the productivity and efficiency of your company.
Continuing in the health care theme, another of the Facebook benefits for employees is access to a Wellness Center. As the name implies, the Wellness Center is essentially a medical and dental clinic exclusive to the social media giant’s employees.
The Wellness Centers can take care of anything from physical injuries, illnesses, vaccinations, and even acupuncture.
Offering a comprehensive wellness center is ideal for providing a work environment that cares for the employees and makes them feel valued. As with many modern-day jobs, a lot of time is spent behind a desk and in front of a computer.
This can cause back pains, neck pains, and other aches that can inhibit their productivity. Wellness centers allow employees to treat these issues before they become a problem.
Facebook employees don’t have to worry about paying costly gym fees. Facebook HQ, located in Menlo Park, has three active on-site fitness gyms exclusively for employee use.
Having an employee-exclusive gym is an amazing way to keep the team fit and active, especially if they spend a lot of time behind a desk. Regular activity also raises stamina, increases happiness, and ensures that their bodies keep up with their workload.
Not only are these facilities free to Facebook employees, but they also sport high-end exercise machines and activities like a rock gym, a FIFA-compliant soccer field, and a sand volleyball court.
The on-site gym also offers group workout sessions for those who prefer working out with friends.
Employee cafeterias don't exactly inspire one's appetite, but the same cannot be said about the restaurants and cafes available to Facebook employees.
The Facebook employee cafeteria at HQ consists of 40 restaurants and cafes, most of which are run by world-class chefs. These offer a wide variety of cuisines to choose from, like Vegan meals, Kosher, Indian, Mexican food, and old-fashioned ribs. There really is something for everyone.
The best part is, Facebook employees eat for free! That’s right! Whether it’s breakfast, lunch, or dinner, they don’t have to pay a cent!
In addition to having access to a pretty impressive cafeteria, employees also have access to micro kitchens on each floor. These micro kitchens are ideal for those mini-breaks in between work, especially if you’re craving a latte or quick snack.
The kitchens offer a wide variety of snacks, both sweet and savory, as well as fruits, drinks, teas, and coffees.
As with the cafeteria, everything in the micro kitchen is completely free.
Facebook offers a free shuttle service for employees living in the Silicon Valley area. A comprehensive network of shuttle busses covers over 50 routes with hundreds of stops available for employees.
This saves employees a ton of additional costs, such as the cost of fuel, bus tickets, and taxi fares. In addition to this, it also saves employees a ton of time since they won’t have to worry about being late for work or trying to catch the bus.
This service provides transportation that ensures that employees arrive at work and back home safely.
The busses are also fully equipped with fancy features such as adjustable seats, power outlets, and WiFi to keep traveling home safe and comfortable.
Riding a bike is a great way to get around town, exercise, and enjoy the great outdoors. Facebook has gone the extra mile by integrating cycling into its working environment. At the Menlo Park location, there are over 1,000 bikes available to employees to help them get around.
The HQ also sports dedicated cycling lanes and a fancy roundabout exclusive to cyclists if you want to have some fun.
For employees that cycle to work, the company also provides bike racks on every floor of the office buildings. There is also a fun Bike to Work Day on the second Thursday of every month. This comes with fun organized group cycles to the office as well as free extras like a bike bell, tool kit, lights, and bike locks.
Facebook is an internationally renowned company, and with that comes a competitive financial component. One of the best benefits around is that Facebook pays its employees a generous salary.
The median salary for Facebook employees is around $240,000 per year. This means that half of the people employed by Facebook earn around $240,000. That’s pretty impressive, especially compared to other large corporations such as Google who has a median annual salary of $197,000, and Paypal at $70,000.
Given that the average annual income in the US for a full-time, full-year employee is around $40,000, this is amazing.
In addition to this, Facebook also makes provisions for the future of its employees by offering them a 401k investment toward retirement. A 401K is a long-term savings plan that allows employees to save a portion of their income into an investment account. Generally, a percentage of the amount is matched by the employer. 401K retirement plans also come with pretty great tax benefits.
Facebook matches 50% of employees’ contributions to the 401k, up to 7%, which is quite generous.
Depending on how the employee saves and works with their money, this is a great start to a pretty comfortable retirement plan.
Not all companies can offer the equivalent of Facebook benefits. But, given the battle for talent, it’s up to you to set your business apart by offering more than just affordable medical insurance and a severance package.
Large corporations like Facebook have really set the standard for excellent rewards that not only draw in new employees but keep current workers happy and healthy.
If you’re leading the people team of an up-and-coming tech company or startup and want to treat your employees well, there are plenty of options to try. Take inspiration from the giants like Facebook, Google, Airbnb, and Tesla, and build an awesome perks program at your company!