List of Perks and Benefits for Software Developers from Series A Startups
The technology startup market has significantly grown, especially due to the impact of the global pandemic and the fast digitalization of market services. Although they could double their funding in 2021, they are still required to prove their desire to grow.
Such changes, as well as the aim to create a successful business, require companies to search for the best tech talent. It causes the situation when to get the best developers, companies should try harder and create new ways of attracting candidates.
Here we will discuss the most common perks and benefits that tech industry startups provide for software developers.
What benefits Series A startups offer developers in 2022
When choosing what offer to apply for, candidates often look not only at the salary but also check what benefits and perks they will have. Some of them consider such bonuses to be a higher priority and can apply for offers with lower pay but with the availability of health insurance, gym membership, or equity compensation.
Source: YouTeam blog
The statistics above show that 87% of companies cover almost 100% of healthcare insurance, while 11% of them even provide it for dependents. 59% of companies also provide tax savings plans for employees to help them save for retirement.
More than one-third provide a paid parental leave (34%) and unlimited paid time off (29%). In addition, about 17% of businesses provide commuter benefits, and about 4% provide the ability to volunteer during the workday but still get paid.
Source: YouTeam blog
If talking about perks that companies provide, 28% of them supply employees with free lunches or fully-stocked kitchens with coffee/tea bars (27%). In addition, they provide gym memberships (22%) and mental health programs (8%). 20% of employers provide education reimbursement for their workers to keep the working process on a high level.
Such a tendency allows seeing what are the preferable benefits and perks the candidates are looking for and apply them to attract the best candidates.
What benefits top tech talent prefer the most
Apart from the one we have talked about before, there are also several benefits employees would like to see in the job offer in 2022.
Communication and transparency
Transparency in communication between the company and employees allows both of them to have clear expectations from each other. Developers have a clear understanding of their career path, what they should do, and how to advance their careers. Such communication will help better team management and issue solving as everyone can discuss what allows them to be productive and what reduces this willingness.
Welcoming environment
If developers are stuck on a problem they can’t solve, it is always good to have a healthy environment in the company where each team member can easily ask for help and will have the answer. It increases the will for communication between engineers, which increases the productivity of the team.
Equal rights and diversity
This benefit is especially important for companies to have as it helps the IT industry to be inclusive and attract a lot of skilled engineers who would prefer to work in an environment of diversity.
Many candidates now consider benefits and perks to be more important than salary. To get the best developers, Series A startups now have to work on what they can provide to the potential hires. They often provide such benefits as health insurance and tax savings plans for retirement and team-building events. The most valuable benefits engineers look for are still the ability to build a portfolio of skills, greater communication and transparency, as well as mental health subsidies.
