Startups Offer Eccentric Perks to Stand Out

Employees at newish startups are being offered modern, specialized, and personalized perks designed to communicate the culture companies hope to foster… and why they should choose to work there over blue-chip firms.

Why It Hits: The battle for who had the most generous perks became something of an absurd competition in the last decade. But post-pandemic, those same companies have tightened their belts, rolled back those perks, and now demand more work for fewer benefits. In this environment, startups realize they can’t compete with the prestige of the Fortune 500, but they can stand out in other ways.

Behind the Benefits: There’s more than one way to woo great talent.

• Media company 1440 gives employees a stipend for preventative MRIs to scan for early medical issues.
• Software company Pipedrive offers “pawternity leave” (time off when you adopt a pet) and “compassionate leave” (time off to grieve if your pet dies or if you’re going through a breakup).
• Politician-incubation firm Run For Something has a four-day workweek and a $500 “treat-yourself” stipend.
• Streaming service Philo gives employees a $2,000 bonus when they actually take a two-week vacation from their unlimited PTO (convincing people to take a vacation has become difficult in today’s culture).
• Philo allows employees to be fully remote but also offers a $500/month bonus to employees who come in at least three days per week. Cameo is offering employees a $10,000/year bonus to come into the office at least four days a week.

The Future: These companies report having higher work engagement and a low turnover rate — the exact things any company wants. As many top employees have demanded full compliance with one way of working (such as coming back to the office or tendering their resignation), offering employees flexibility to work in the way that best suits their personal lives may be the key to winning over those who have the option to sign with anyone.