What You Can Learn About Benefit Packages From Series A Startups

Strong benefits can benefit both employees and employers

Despite the recent waves of mass layoffs, employees are still resigning at record numbers. In November, 4.2 million people called it quits—marking the 18th straight month where more than 4 million people voluntarily left their jobs. 

While most companies are figuring out how to do more with less, large corporations (think: enterprises with 5,000+ employees) are said to be winning the hiring game right now. With comfortable profits, steadier job security, and more comprehensive benefit packages, big companies are more resistant to economic downturns—a big plus for job-seekers.

 

How Can Small Companies Compete for Talent?

For smaller companies and early-stage startups, it can be tough to compete with large corporations in the war for talent. But with some thoughtful creativity and a clear understanding of what people truly value, even a Series A startup can turn its benefits package into a competitive advantage. 

In a recent survey conducted by Comparably, employees ranked both large and small businesses over a 12-month period. It found that companies that paid exceptional attention to the health and wellness of their employees exceeded expectations. Whether it’s a company the size of Microsoft or a company with 500 or fewer employees, meeting employees where they are with what matters to them plays a critical role in what makes a workplace attractive. 

That’s what I’ve found as I lead the team at Tango—a documentation tool that automatically creates how-to guides. As a remote-first company with a Series A fundraise under our belt, we’ve intentionally tailored our benefits to not only cover the essentials but also to equip our team members to be their best at work and outside of work. Here’s a look at how we approach benefits at Tango.

Health & Wellness

Companies can’t succeed without healthy employees—so investing in their physical, mental, and financial wellness is crucial. When employers support their people with the resources to take care of themselves and their families, they empower healthier and happier teams. Here are a few benefits we provide at Tango to support our team’s health and wellness: 
 

• Full medical, dental, and vision coverage with 100% employer contribution and an HSA for qualified plans
• 4 free therapy sessions annually through Spring Health
• 401(k) plan through Guideline
• 12 weeks of paid parental leave

Flexible Work Perks

Flexible work was once considered a perk in and of itself, but now it’s becoming the norm. Still, there are opportunities for companies to enhance the remote or hybrid work experience for their employees. As a remote-first company with a team of 30 distributed across the country (and two employees overseas), Tango provides these remote-specific benefits to equip team members with everything they need to do their best work—wherever they work. 
 

• Monthly co-working stipend with Deskpass
• Monthly stipend for weekday meals delivered through Uber Eats 
• Stipend for each new hire to invest in productivity tools of their choice—like software, gadgets, planners, and journals
• Yearly Learning and Development stipend for team members to grow and hone their craft with courses, workshops, books, coaching, memberships, or conferences
• 6 personal volunteer days for team members to give back to their communities 

Ownership & Equity

The tight labor market has made it even harder for companies of all sizes to attract and retain talent—but employers can gain a competitive edge by giving their employees ownership in the company’s value and success. 

At Tango, we offer both competitive compensation and an annual Equity Refresh program for all employees. In addition to new hire grants and performance-based grants over time, Tango’s unique time-based Equity Refresh program gives every team member additional equity for every year they’re at the company.

Work-Life Balance

Every company wants to be a great place to work, but the companies that stand out are the ones that can encourage their employees not to work. By offering perks that highlight and celebrate life outside of work, employers show their commitment to supporting the whole person—not just their job title. These perks give our team members a chance to get outside and away from their screens (and to share fun photos of their adventures with the rest of the team on Slack!). 
 

• Unlimited PTO, 10 company holidays, and birthdays off
• A subsidized National Parks Annual Pass
• Subsidized Roller Skates (yes, seriously)
• Unlimited gifting of Mango-related snacks (our team members are called Mangos)

Strong Benefits Can Benefit Both Employees and Employers

Regardless of size or stage, companies should align their benefits with what employees actually value—not what they think employees value. Employers that take extra care to build a human-centered benefits package will gain some invaluable benefits themselves: a happier, healthier, more motivated workforce, and a competitive edge in attracting and retaining top talent, no matter the state of the economy. 

Ken Babcock is the CEO and Co-Founder of Tango. Before setting out on a mission to help people be their best at work, he spent 4+ years at Uber riding the rollercoaster of a generational company. After getting his feet wet with entrepreneurship at Atomic VC, he went to Harvard Business School where he met his co-founders. Connect Ken Babcock