With rapid advances in technology constantly changing the way employees work, it’s more important than ever for companies to pay attention to what they’re offering. A competitive salary is a great start, but that may not be enough to keep employees happy anymore.
With changes in technology, training, and virtual work, expectations for perks have changed, too. Big brands have revolutionized the dynamic of workplace perks by offering fun extras like snacks and Happy Hour half days. But studies have shown that these aren’t the most important perks employees are looking for. So, what are?
Insurance
Health, dental, and vision insurances are the workplace perks that most employees will look for first. When you’re part of an employer-sponsored plan, these become benefits that employees don’t think about until they use them. They come out of each paycheck automatically and make life easier. When employees have to pay for them on their own, it adds financial stress to their lives, which can make them feel underappreciated and distracted.
Paid time off
Revisit your policies on vacations, sick days, holidays, and paid parental leave. Your employees need time to rest and recharge their batteries, and it’s difficult to do that with only two-day weekends to fall back on. Give as much time as financially reasonable for your company. Your employees will appreciate the effort and your awareness of their mental health needs. They’re also likely to return well-rested and much more productive after their time off, too.
If the extent of your parental leave plan is a four-day weekend, chances are, many of your employees won’t want to stick around long-term. Employees are watching to see how their company treats their co-workers during one of the most important times in their personal lives. If you show them that you recognize important life events and you’re flexible with time off, more people will feel respected and motivated to stay.
Retirement contributions
In recent years, this has become an extremely desirable and sought-after workplace perk. Especially for millennials, many of whom saw their parents hit retirement age with minimal savings to help them through. Helping your employees prepare for their future shows them that you’re invested in them for the long-term, and they’ll return the favor.
Flexible hours
You can get creative with this category. If there is a certain day of the week that is slower than others, let your employees go home to their families an hour earlier. Let them work a Saturday instead of a Monday. Offer remote hours as rewards for good work or an incentive for meeting pre-planned goals. The options are endless, but no matter which one you choose, a bit of flexibility can go a long way with your employees.
Team building
This doesn’t have to be a movie montage of trust falls and bonfires, it can be as simple as organizing one meal a month where you all sit down and eat together. Provide free food, snacks, and coffee whenever you can. Have company-wide holiday celebrations. These things build comradery, let your employees get to know each other better and ease tension. As a result, they’ll be more motivated to help each other and work as a highly productive cohesive unit rather than scrambled individuals.