Keep Your Team Happy With These Great Perks
Dec 21, 2022 · 8 mins read ·Company Culture, Employee Retention, Employee Wellbeing, Policies & Benefits
We give business results and customers so much attention that we frequently neglect the employee experience without recognizing it.
And that’s a huge problem.
Your employees’ experience and working environment matter.
Produce an outstanding employee experience by paying attention to the perks and rewards you provide to your staff.
Which leads you to your next question. Does the company offer rewards and advantages that matter to them?
Offering perks and incentives that enhance your employees' quality of life is essential for a healthy working environment. In addition, it can increase employee engagement and be a vital competitive difference in a crowded market.
Advantages are something that almost all businesses provide (and are frequently compelled to do). Still, your benefits can influence a candidate's decision to apply for a position with your company.
Benefits vs. perks: Are they the same?
The perks and benefits you provide to your staff speak volumes about your business culture and the kind of working environment you want to foster.
It's crucial to think outside the box and offer employee bonuses and incentives that reflect your business's ideals.
But alas, benefits and perks are two different things.
Think about it this way. Your employees need benefits.
Perks? It’s not necessary, but your employees want and love these things.
You'll want to put benefits first when considering investing in your employees.
Benefits are often the most important and valuable for your employees and are more of a financial investment for your business.
On the other hand, rewards are typically less expensive but can still significantly affect employee engagement and workplace culture.
Employees frequently expect you to provide specific benefits, like health insurance or time off. But, at the same time, perks allow you to differentiate your business with distinctive, enjoyable offers, like on-site fitness classes or a pet-friendly office.
Why are perks important to boost retention and productivity?
Most businesses will say that their most significant asset is their workforce.
But they overlook that salaries are more of a threshold than a scorecard for today's workers. There are more productive strategies to maintain your talent's happiness and engagement.
Most businesses need to fully utilize the attractiveness of non-monetary rewards for most employees, which means that company perks continue to be a huge potential for them.
Workers would consider workplace perks and company benefits, such as the availability of snacks, when choosing their next position.
This is also true when working with contract employees because benefits will determine whether they stay after finishing their assignment.
But, if not for salary, what workplace perks are essential to employees?
Perks your employees will surely love
As any wise business leader will know, today's best talent cannot be attracted and retained based on salary.
Employees are also using their position as individuals to demand more from their employers as the boundaries between work and personal life continue to blur. As a result, top talent becomes increasingly difficult to find.
At-work perks for employees make up a sizable portion of that demand.
According to recent industry research, an employee's decision to accept a job offer is reportedly influenced by creative employee perks and benefits 83% of the time.
So, with the best perks, you’re boosting hiring, retention, and satisfaction rates across the board. If you don’t know what to offer yet, start with these:
Solid and consistent employee recognition
Isn’t it rewarding to get recognized at work? A simple thank you or praise can make your day. But, even more impressive, it has the power to improve your mood.
Particularly for virtual teams and hybrid teams, recognition is crucial. Team members who are geographically dispersed can feel more unified and linked during moments of appreciation and recognition.
Plus, offering a recognition program as a bonus of employment has strong business justifications.
One significant one is that employees who don't receive credit at work are twice as likely to declare they'll quit in the coming year. So avoid having that happen to you!
Discounts and rewards
Top talent today is seeking positions at organizations that support a particular lifestyle rather than just a maxed-out compensation, which makes benefits like those mentioned in this article more crucial than ever.
According to one survey, this inclination is so prevalent that 80% of workers choose bonuses or benefits to pay increases.
In the end, you want your workers to know that you care about them regardless of whether or not it affects their work, and offering exclusive employee discounts is a fantastic way to do that.
Flexible scheduling and remote work
While working in an office setting might be fantastic for fostering face-to-face interaction among your staff, many workers prefer flexible scheduling or remote work options.
In addition, you might discover that many workers are far more productive when they set their schedules to something other than the standard 9–5.
You should take it slow at first.
Giving employees the option to work from home occasionally or even every day can encourage flexibility and show your confidence in them.
Your employees want to know they have options for professional advancement and growth and learn how to do their duties more efficiently.
Are you reluctant to train your staff for fear that they'll take your instruction with them? This only often occurs when you train staff members without providing them with a roadmap for career advancement inside your organization.
The chance to advance professionally, earn more money and assume more responsibility within the company significantly impacts the employee experience.
Employees typically stay late because they are under pressure to do so.
While this time could put a little additional money in their pocket, it prevents them from spending time with family, getting enough sleep, and preparing nutritious meals.
Work/life balance is severely strained when working late.
A superb method to ensure that your staff members arrive at work each day feeling rejuvenated is to help them strike a balance between work and life.
Work with your staff to understand how you can help them achieve a healthier work/life balance, keep a lookout for employees working through the night, and implement out-of-office regulations.
Your employee experience is fundamentally influenced by the benefits and incentives you receive. The appropriate combo requires research and testing but offers considerable competitive benefits.
Remember that the requirements and preferences of your staff will evolve.
Your employees may need different things from your firm as it develops and as they enter different stages of life.
You must ask your staff about their preferred perks and advantages and keep an eye out for novel ways to recognize and motivate your team if you want to stay ahead of the curve.
Are you looking for HR solutions so that you may concentrate your time and energy on activities that will increase employee retention, productivity, and revenue?
Hezum is a comprehensive solution that will give your staff more time and freedom. Provide quick and simple access to onboarding, time-off administration, and other HR services with this all-powerful platform. Visit the website to find out more.