2021 KP People Report

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2021 KP People Report

Benefits
Benefits

Creative Benefits 💭

During this pandemic, mental health and employee morale has been top of mind for all. Companies are addressing this through a variety of different benefits. We are seeing more and more companies offer benefits surrounding mental wellness along with traditional benefits such as medical insurance and retirement (traditional 401K and safe harbor 401K).

Some creative benefits that companies have implemented over the past year include:

Wellness Days 📅

Half-day Fridays and/or Monthly 3-day weekends. [1]

2nd Friday of every month.

1 Friday off each month = 12 additional holidays annually. Note: Some GTM teams have deadlines that don’t align with taking a Friday off, so having flexibility on this based on team need should be implemented.

Selecting a full week off companywide; aligned around a holiday such as 4th of July.

⁠

Thrive Time⁠

- intentional recovery; not counted as vacation, sick-time, or another paid time-off.

Virtual wellness classes (Yoga, Pilates, Meditation) and wellness apps -

Modern Health⁠

Calm⁠

Headspace⁠

Health/Fitness 🏋🏾‍♀️

Physical Health (see also

Additional Perks⁠

)

Fertility benefits.

Private doctor for COVID testing and needs.

Supporting Parents 👶🏽

Virtual Learning Support

⁠

Bundle⁠

: virtual sessions for children ages 3-12.

⁠

Engageli⁠

: interactive coaching and supervision service for online learning.

Financial Support

Stipends for daycare / childcare (

Bright Horizons⁠

Urban Sitter⁠

), tutoring and after-school programs ($1000/month).

Subsidized tutoring support, online classes, family coaches.

Stress Management: Modern Health and Thrive Global offer tools for stress management.

Resources:

Winnie⁠

- Marketplace for finding child care and education.

Please see

here⁠

for a list of resources to Support Working Parents.

Additional Perks [2] ✅

Membership to OneMedical.

Expanded fitness subsidy ($100 - $900) for anything to make WFH more effective.

Fully paid flight for every year of tenure.

Virtual trip (ex: airbnb experiences) stipends.

Physical Gifts 2x/year.

Monthly care packages.

Monthly stipend for lunches (ex. $200-$300 monthly stipend for food service), stipend for groceries.

$2,000 education/e-learning stipend that can be used for learning by 1) employee for outside of work-related development such as art classes, 2) employee’s children (ex: supplies or tutoring).

Paid entertainment subscriptions (Netflix/Disney+).

Creative Benefits by Company Size

⁠

Traditional Benefits 👏🏻

PTO ✈️

Majority of our companies have employees that are exempt/salaried and have an unlimited PTO policy for all employees including non-exempt. There are also companies that are on an accrued PTO for all employees, and some that offer limited / accrued PTO for non-exempt employees and unlimited PTO for exempt. Most companies plan to keep their current PTO policy, and don’t expect to make changes in the coming year.

💡INSIGHT: Some companies are offering PTO to employees for volunteer work

Parental Benefits 👼🏻

Parental Leave

For early stage companies, it is best to implement parental leave of 6-8 weeks and offer the same benefits for primary and secondary. You can keep this policy for 100+ employees after which 12-14 weeks would be good ranges for parental leave. The general trend is that the larger the company, the longer the leave policy, although max regardless of stage is 16 weeks even for recently public companies. We are starting to see a trend of companies with at least $30 million in revenue giving the same amount of parental leave to both caregivers.

Company Size

Parental Leave Policy

Same benefits for primary vs. secondary

1-25

Most don't have a formal policy. The few that do offer 6-8 weeks.

88%

26-50

Many don't have a formal policy at this size. The avg for those that do is 6-12 weeks.

80%

51-100

10-14 weeks

65%

101-500+

12-16 weeks

57%

There are no rows in this table

⁠

Parental Support: Here are some of the ways our companies are supporting their employees who are parents during this time:

Flexible Schedules & Policies

Allowing flexible work schedules.

Adjusting communication norms (i.e. parent offline from 4-5 PM, etc.).

Company-wide no meeting blocks.

Allowing the use of unlimited PTO policy for care-taking of children/elders.

Communication/visibility with managers so we can better support specific cases.

Providing Space at the Office

Opening up office space for employees who need a quiet space to work (adhering to COVID safety requirements).

WFH Stipend & Commuter Benefits 🚙

The majority of our companies have offered a one-time WFH stipend ranging from $150 - $1000 in 2020. 40% of companies surveyed this year (Q1 2021), do not plan to provide additional benefits. Highlights from the 60% of companies that do plan to provide additional WFH benefits in 2021 include:

Monthly stipend to cover internet upgrades / cell phone data usage.

Provide ongoing $50-a-month internet stipend (wanting to be in compliance with CA law for people who are doing work with their home internet...).

Additional one-time WFH stipend for 2021 ranging from $300 - $500.

Ongoing annual WFH stipend of $100-$300.

Allow employees to pick up items from the office that would help them WFH (monitors, keyboards, office chairs, tools, etc).

Best Practices around stipends:

Provide a defined reimbursable assortment (ex. desks, chairs, monitors, etc.) and suggest 1-2 companies to order from.

Have employees buy or

rent furniture⁠

and submit an expense report.

Insurance 🔍

Insurance: 100% of companies offer Medical insurance. Dental, Vision, Life and Disability insurances coverage differ depending on company size — startups with <50 employees may not offer these benefits. Companies generally contribute between 75-100% of an employee’s medical coverage, and 50-75% of a dependent’s coverage. Companies also sometimes offer life insurance in the amount of an employee’s salary, as well as long and short term disability with generally up to 60% of an employee’s salary.

⁠

Notes:

[1] For summer only

[2] Some of these perks fall under IRS rule of Fringe Benefits. Consult with your tax/accounting teams

[3] Gym stipend ranges from $60/month - $100/month. Virtual apps:

Future⁠

Peloton⁠

, and

Aaptiv⁠

⁠

Creative Benefits 💭

Wellness Days 📅