With tendencies skewed toward the results of our business activities and customers instead of the employee, it’s vital to pay attention to the employee experience.
One of the most critical factors that can help create a great employee experience is the availability of various perks. Providing a variety of perks can help improve the quality of life for your employees. It can also help boost employee motivation and make your company stand out. Although many companies offer benefits, their perks can make or break a potential candidate’s decision to work for them.
“Companies that invest in employee experience are four times more profitable than those that don’t.” –Blake Morgan, Forbes
The difference between perks and benefits is important to understand. The type of perks and benefits you provide can affect the culture of your company and the employee experience you want to promote. Offering perks and benefits that represent your company’s values is vital.
Benefits are items your employee needs, while perks are those your employee wants. Perks can help boost employee motivation and make your company stand out from the crowd. They can help attract and retain top talent.
Student Loans Assistance
Most employees want to receive student loan assistance. They’ll also benefit from having more money to invest in their retirement accounts by having you match their contributions. Both providing student loan assistance and matching their retirement savings can help your employees establish a solid financial foundation.
Employees likely struggle with their student loan payments, which can negatively affect their performance. To help ease the burden on their shoulders, many companies are now offering financial assistance to their employees.
Flexible Scheduling and Working Remote
Providing employee flexibility can help boost employee morale and show your trust in them.
You can quickly implement this type of flexible work arrangement for your employees. It can help promote personal development and demonstrate your company’s commitment to employee welfare.
Career Development
Most employees want to know that they have career growth and advancement opportunities. Unfortunately, many companies are afraid of training their employees so they can leave with their skills and knowledge. This can happen, but you should give your employees a path to success.
Apart from having the ability to earn more, professional development can also have a significant impact on an employee’s experience. Large or small, providing training or continuing education can make a big difference.
Childcare
If you want to boost the parental leave benefit, consider offering childcare as a perk. Some companies provide a childcare stipend or on-site childcare facilities for their working parents.
Working parents can be more focused at work if they don’t have to worry about child care.
Work/Life Balance
American workers stay late about 2.5 days a week at home or in the office. Working late can affect a person’s work/life balance, as it can prevent them from getting enough sleep and preparing healthy meals.
To help employees feel refreshed and satisfied at work, establish a work-life balance that’s both flexible and consistent. You can monitor your staff members who burn the midnight oil, establish policies that accommodate out-of-office hours, and talk to them about how you can make your company more conducive to a healthy lifestyle.
Wellness Program
A wellness program can help increase the value of your company’s health insurance. It can help fill in the gaps not covered by insurance. In addition to providing healthy snacks, you can offer other perks such as gym membership and standing desks.
Your company’s wellness program should also be inclusive of all employees. It should be designed to help people reach their health goals.
Recognition and Rewards
A great perk is creating an employee recognition program, which can reward your staff members for their hard work. You can provide them with gifts such as basketball tickets or hotel rooms.
A rewards and recognition system that’s easy to implement, then Bonusly is an excellent choice. Each of your staff members receives a monthly allowance that they can spend on small bonuses for their team members. They can write the reasons why they’re giving it. Once they reach a certain amount of points, they can redeem these for various gift cards and donations.
Conclusion
Providing your employees with various perks and benefits is crucial to your company’s success. It can take some time to establish the right package, but it can be worth it.
The needs and wants of your employees will change over time, and as your company grows, you might have to provide different products and services to accommodate your employees’ needs. Regularly survey your staff members about their preferences to keep up with the changes.