Perks at Work: Big Deal or a Little Luxury?
When searching for a new role, prospective candidates are more often than not, sold by the incentives an employer offers. In recent years, employee perks have developed into integral factors of any office job, becoming less of a perk, and more of a necessity. With 19% of employees claiming to not receive any perks from their employer, it is becoming increasingly competitive between corporations to locate the most enticing benefits to satisfy and retain their employees.
Google as the prime example has gone so far as to equip their offices with Energy Pods, in order give their employees some space to nap when in need of a bit of shut-eye.
In today’s office space, common perks include access to changing facilities and reclining chairs, but do these “perks” really make much of a positive impact on employees? Some perks although small, have a beneficial effect over a staggered period of time. The most commonly offered employee perk is free hot beverages, with over half of office workers having access to as much caffeine whenever they should like.
However, the remaining half are expected to subsidize this cost themselves, which could be costing them up to £950 per year, the equivalent to an all-inclusive seven day holiday to Portugal. It’s these smaller incentives which are often taken for granted, that actually benefit the individual employee the most over time and encourage positivity amongst a workforce.
What incentives would make you seal the deal?
Sometimes, employees don’t want to sell themselves short with the little perks but are often lured in by the less accessible perks which are not offered elsewhere. The perk which office workers desired the most (43% of those included in the survey) was flexible working hours. This gives employees the freedom to work to their own schedule, which almost always results in better staff retention. It is this opportunity for employees to take more control over their working hours and their own time, which stimulates them to be more productive and motivated workers.
The potential power of office perks
The question on every employer’s lips is do perks actually make a difference to the morale and productivity of a workforce? The answer is an indefinite yes, with 20% of employees admitting they’d work harder if offered them, 37% revealing they’d be more motivated and a whopping 49% confessing they’d be happier.
Given that stress is the number one cause of disengagement and absence for employees in the UK, it seems justifiable that this could be changed with the addition of a free bar after a busy day at work, or the ability to work from home when the traffic is a little too hectic. By treating hard-workers with the care and attention they deserve, businesses are more likely to see results in employee loyalty, a high retention rate and subsequently a lower turnover within a workforce.
Source: The Undercover Recruiter.com