Samsung Employee Benefits That Attract And Retain Employees

When you think of smartphones, home appliances, or even fitness devices, the name Samsung likely pops into your mind. This South Korean tech brand is a part of our daily lives. 

A global workforce of more than 270,000 employees makes it a competitive company, yet one that successfully retains talent each year. How does the company do this? The answer could be the superb Samsung employee benefits. 

Here are the seven best employee perks of Samsung you should know of.

7 Top Employee Benefits At Samsung

The best companies worldwide invest in much-needed employee perks for two main reasons: to attract the best employees and to retain them. These employees then feel valued, and their careers don't interfere so much with their daily lives. Samsung is one of these companies and their top employee benefits include the following:

1. Family Benefits

There could be many ways for a company to boost employee morale, but investing in an employee's family's well-being takes the cake. Samsung has some of the best family benefits, with financial support of up to $10,000 for new parents.

For example, the company offers employees a robust support system during and after pregnancy. They start with financial and emotional perks to help employees enjoy pregnancies and new babies. The tech giant also helps employees going through child adoption processes, providing financial support to make adopting children more manageable. 

In addition, Samsung offers new parents paid leave when they welcome their children home. 

Through the company's Milk Stork program, new parents also enjoy the company's support to continue breastfeeding their little ones after returning to work. This includes logistical support to send breastmilk home from work or business trips. 

Finally, the company offers fertility support to employees seeking out help. This ranges from financial and medical to emotional backing, which makes the process easier for soon-to-be parents.

2. Samsung Employee Discounts

Samsung is one of the best retail brands, and its employees enjoy discounts that make their lives easier while adding luxury to it. The company offers exclusive discounts of up to 30% on various products, from smartphones to washing machines. This helps the employees save money and enjoy the brand's cutting-edge technology firsthand. And that's not all: friends and family of employees can benefit from special discounts too!

3. Health Benefits

Samsung offers numerous employee health perks ranging from insurance policies to checkups and savings. The company health insurance package includes prescription coverage, flexible dental plans, visual coverage, and telehealth plans (where employees connect with certified doctors via video conferencing).

Besides insurance, the company encourages employees to go for frequent health screenings. These include mammograms, pap smears, biometric screenings, and PSAs.

In addition, Samsung offers employees and their families therapeutic services through the Employee Assistance Program (EAP).

Related: 7 Cool Coca-Cola Employee Benefits That Employees Enjoy

4. Paid Leave

The company places a strong emphasis on work-life balance, which is evident in its generous paid leave policies. Here's a breakdown of the different types of paid leaves that Samsung offers to its employees:

Paid Time Off (PTO)

Samsung offers a generous PTO policy that allows all regular, full-time employees to accrue 20 days per year. 

The accrual increases with tenure, providing long-term employees even more time to recharge. These PTO days are in addition to company holidays, giving employees ample time to relax and rejuvenate.

Paid Child Caregiver Leave

Samsung Electronics understands the importance of the early bonding between parents and their newborn or newly adopted child. So, the company provides up to 12 weeks of fully paid parental leave. This allows parents to spend quality time with their new family members without the financial stress often associated with taking time off work.

FlexTime and FlexPlace

Employees can sign up for FlexTime. It's a program that allows them to flex or change their start and end times within specified "core hours" while still working a standard workday. 

FlexPlace enables regular full-time and dispatched employees to work from home or an alternate location up to four times monthly.

FlexYourFriday

To give employees a jump start on their weekends, Samsung offers a FlexYourFriday policy. This policy allows employees to leave the office early on Fridays during the summer months.

Related: Wellness Gifts For Employees: Ideas To Balance The Team

5. Financial Perks

Samsung offers a variety of financial perks to its employees to ensure their economic well-being. 

One of the key benefits is the Health Savings Account. It allows employees to save funds for healthcare expenses with tax advantages and investment options. The account remains with the employee even if they leave the company. 

Also, with the Flexible Spending Accounts, employees can save money for essential expenses like health, dependent care, or commuting while reducing their income taxes.

The company also offers a robust 401(k) plan to support employees' retirement savings. 

In addition, Samsung makes annual contributions towards employees' student loan debt and offers support for student or Parent PLUS loans through their partners at SoFi. 

Lastly, the company provides tuition assistance for employees pursuing degrees relevant to their positions or career paths at Samsung.

6. Office Perks

Samsung offers many office perks for a comfortable and engaging work environment. 

For example, in some areas, the company offers a shuttle service for its employees, making the daily commute more convenient. There's also a transport allowance to cover other commuting expenses. 

In addition, employees get free dinner five days a week, along with free lunch and breakfast. Free drinks and snacks are also available.

Other perks include an on-site mother's room, an on-site clinic, and gender-neutral bathrooms. Samsung also offers pet insurance and has a pet-friendly workplace.

Related: Ultimate List Of Companies With the Best Perks for Employees

7. Fitness Perks

The company's Smart Health Wellness Program supports overall health and allows employees to earn money to maintain a healthy lifestyle. 

Employees also get fitness reimbursements for gym memberships, personal fitness training, and group exercise classes. They can also opt for a Cubii, a compact elliptical machine designed for a desk.

Final Thoughts

There are different ways companies keep employees engaged, with corporate benefits and employee incentives ensuring job satisfaction and company success. As we have seen, Samsung goes over and beyond with its corporate offers.

From health coverage to lifestyle benefits like gym reimbursements, the Samsung Electronics employee benefits are similar to or better than most companies offer. So, it makes sense the company successfully employs hundreds of thousands of people who find it a good workplace!