Employees are a company’s biggest assets, and one of the most important component of any successful business, are happy employees who want to come to work. Offering an attractive employee perks package is one way to show you care about the holistic wellbeing of a team and that it’s not just about work, work, work! There are so many advantages to offering employee perks, highlighted below are 5 factors that show the value of implementing such a scheme:
1. Healthy employees
The modern working environment isn’t always the picture of health and wellbeing: 8+ hours fixated to a screen stuck in an office chair, snacking away on the free cereal bars with no time to get out and stretch, never mind exercise. Offering employee perks that encourage a healthy way of life – be it discounted gym memberships, healthy eating programmes or even a corporate healthcare plan, shows a company cares about the wellbeing and health of its team. If teams are healthy, rested and not always stressed – they will be more productive and the rate of absenteeism will decrease significantly.
2. Desired morale and corporate culture
Negativity breeds negativity and positivity breeds positivity – the law of attraction! Make sure employees are happy and well-looked after and this will instill a company culture that is warm and encouraging. Offering perks boosts morale. If you look after your employees, they will look after your business – it’s as simple as that! Showing you care about your employees’ lives and wellbeing outside of the office, increases loyalty and boosts morale. If it’s evident that is not solely about the output of work, that you want your team to be happy and healthy and you offer a means to help with this, you’ll be sailing!
3. Competitive advantage – increase your appeal
Highly skilled employees who have the industry know-how as well as in-depth expertise is something all businesses aim to acquire in order to grow and run a successful business. However today, with the plethora of job choices across multiple industries, companies need to differentiate themselves from the masses. They need to stand out from the competition presenting a holistic package that is more than just an attractive salary. Offering employee perks such as discounts to thousands of high street retailers, paid holiday days and healthcare plans, is one way to attract talent. When a company looks after the happiness of its people and offers a healthy work-life balance, this is sure to increase the desire of working at the company. When a company is willing to invest time and money in a competitive package, it shows that they are looking into the future and want a stable workforce: they know the return on investment on employee perk spend will be valuable and worthwhile overtime.
4. Minimise employee turnover and increase retention
You don’t want your employees throwing in the towel because they feel over worked and undervalued. Employees spend a vast portion of their waking day at work and they need to feel that their contributions are not only noticed, but also appreciated. Within reason, there will always be staff turnover, that’s the nature of work. However, companies cannot afford for a mass exodus. If employees feel valued, that they are listened to and well looked after, plus there is career progression, they don’t have reason to leave. Salary increases are always welcomed by employees, but there are plenty other things you can do to boost morale and keep your team engaged. Offering perks that can be used outside work, that can enhance savings, is a plus - whether it’s half price cinema tickets, discounted gym memberships or savings at your local grocery store. The mere fact an employer offers such perks, is one way to increase retention!
5. Increase job performance
If you show you care about your team, the chances are they will be more loyal, which in turn will increase performance and productivity. It’s a two way street - if you feel invested in and cared about, you are sure to put in more effort. Employees want to work hard and excel when their manager and company looks out for them, that’s human nature. Employee engagement and job satisfaction increases performance.
Yes, in the short term implementing an employee perks programme may seem like a burden and a lot of money to invest, however this always yields great return in the long run. Companies will be more attractive, they will have A-class employees who want to work there and are not looking around, and the atmosphere will breed only desired results.
From just £4 per employee per month, Staff Treats offers over 3,000 employee perks that will not break the bank and your team will love. Simply get in touch with one of our Engagement Specialists who can offer the right solution for your business.
Written by Talya Zwiers
Employee perks vs salary
Talya Zwiers June 11, 2018
The Financial Times' recent article, Even perks rarely beat more money on your pay slip, debates the issue of whether the uptake of employee perks beats actual...