When a company’s CEO insists the letters stand for Cosmic Engagement Officer, you know you’re encountering a business that operates in an out-of-the-ordinary way.
Dr. Bronner’s is often in the headlines, but perhaps most widely when the company announced it was providing psychedelic healthcare benefits, in the form of ketamine-assisted therapy to its employees. That was two years ago.
This year, the personal care products company has announced that the highest-paid executive can only make five times as much as the lowest-paid, full-time employee. The only catch is, the latter must be fully-vested, meaning they’ve been with the company for at least five years.
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Jobs with benefits
CEO David Bronner says, ‘An ethical company should pay a fair salary and good benefits and enable people to make ends meet on the wages they receive. We’re really trying to set an example of just being reasonable.’
So, is better pay the best benefit of all? Not in the U.S. apparently, where nearly 60% of respondents in NFP’s annual 2024 Benefits Trend Report, stated they were ‘willing to give up some salary to gain access to better health care.’
Dr. Bronner’s has this covered too, by offering a healthcare plan with no out-of-pocket expenses. Additionally, all employees receive 10% of their salary paid annually into a retirement/profit-sharing plan, daycare is covered up to £5,900 per family, and the company provides organic, vegan meals to employees every day.
Infertility assistance, continuing education assistance, pet insurance, toastmasters training, onsite massages, and an £800 rebate for purchase of an electric vehicle are also on offer.
Modelling progressive business practices may be part of Dr. Bronner’s mission, but it seems that many organisations are slow on the uptake, as this level of benefits is still quite rare.
UK v US benefits
Workers in the UK and the U.S. have both shared and different priorities when it comes to benefits, influenced by cultural, legal and economic factors.
Employer-provided or assisted healthcare is huge for American workers due to the absence of a universal healthcare system, and the high costs of care. Unfortunately, the quality of health insurance plans vary widely from employer to employer.
In the UK, despite the NHS, private medical insurance tops the list of UK employee demands too, according to a recent report, which surveyed 500 HR decision makers and 2,000 UK employees.
A third (32%) of respondents ranked it as the most desirable benefit, and this was followed closely by increased pension contributions (30%), employer contribution to energy costs at home with 25%, while workplace savings schemes and discounts on high-street brands/shops were both favoured by 21%.
One point of difference is that statutory annual leave in the UK entitles workers to 5.6 weeks’ paid holiday a year, while there is no federal mandate for paid leave in the U.S.
You’ll often hear friends and family who work for American companies complain about the limited number of vacay days, though salaries are often higher.
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Also in the UK, employers must provide a workplace pension scheme, though the amount you and your employer pay towards the pension depends on the type of workplace scheme you’re in, and whether you’re been automatically enrolled in a workplace pension or you’ve joined one voluntarily. Whereas in the US, retirement benefits, like 401(k) plans, are voluntary.
Overall, UK benefits generally offer more statutory protections and are designed to ensure a baseline of support for all employees.
While in the U.S., benefits are less standardised, leaving room for variation, disparity, innovation and laziness, all depending on the employer’s discretion.
So whether you’re job seeking in the UK, or for a remote role with a U.S. employer, you’ll know what benefits to watch out for.
Ready to find a role with better pay and benefits? Visit the Metro Job Board today for hundreds of roles all across the UK.
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