Editor’s Note: We’ve commissioned artist Doug Shaw to explore the 16 Key Factors measured when it comes to compatibility between a candidate and employer and will be posting them along with his inspiration in this series.
Employee perks and benefits aren’t a thing of the future. It’s what workers crave now! And, their inclusion or exclusion can reap employee loyalty and high retention rates. Providing some kind of perk can actually create a great advantage as it puts you above 43% of competitors who don’t offer extra benefits. This means your employees will stay, and for the most part, be happy with their decision for doing so.
But, why should you offer these benefits? What if retention isn’t a problem for you, what part do perks play then? The answer is simple: attracting the incoming workforce and high-performance employees. As Ray Silverstein, founder of PRO, President’s Resource Organization, states:
“There are certain benefits good employees feel they must have…”
Employee perks are something that aren’t just a treat anymore, employees expect them. This doesn’t mean you have to completely let them do whatever they want but offering free lunches, more vacation days, or even paid sick leave can take off a little stress for employees making them happier and more productive. For example, 32% of workers expect their working hours to be mainly flexible and 40% expect their hours to be mainly regular with some flexibility.
Tweet This: 32% of workers expect their working hours to be mainly flexible. Are you offering this?
Are you offering anything like this? Not doing so may lead to your downfall, especially when you consider nearly 2.8 million employees voluntarily quit their jobs in January of 2015.
Not sure what your employees want or where to start with offering these perks? Here are some suggestions:
- Gym memberships
- Free lunches
- Flex hours
- Work from home days
- Bring your pets to work days
- Unlimited amounts of coffee
- Retirement plans (401K, Simple IRA, etc.)
- Healthcare plans
- Paid vacations, holidays or sick leave
Try asking employees directly what they want, or what could possibly help them be more successful. Getting employee feedback is a key first step in ensuring you are providing essential perks at work.
Perks have power. OK, they may not be the single most important factor when it comes to choosing your desired employer, but they can help tip the balance. People seem to appreciate getting something extra, it gives them a lift, particularly when there’s flexibility involved, the ability to personalise your choice. That choice, along with a sincerely offered and timely thank you for a job well done, goes a long way. And if you can find the time to personalise the thanks, even better. Recognition matters.