How can employers ensure that their staff remain engaged at work and are happy in their jobs? It’s a tough one to get right and at a time where job hopping has become somewhat of a norm, employers are being forced to go to extra measures to provide incentives for employees to keep them from jumping ship.
With the Apples and Googles of the world dishing out fancy employee benefits like extravagant staff parties, office playgrounds and generous discounts on the latest gadgets, employee perks have become more of an expectation than an added bonus.
Though a lot of companies can’t compete with the huge corporations, there are still a few things that companies can offer their staff to keep them motivated. Here are a few examples of employee perks that work the best, courtesy of Towergate.
What perks are best for improving engagement and loyalty?
- Employee engagement programs can increase profits by £1586 per employee per year.
- Financial compensation is the most effective perk for boosting engagement, with 40% of workers stating this would work for them.
- Better benefits (36%) and the opportunity to advance in their career (34%) are also popular options.
The value of offering flexible hours
- 44% of workers identified flexible work arrangements as the number 1 perk that they would like to have in their company.
- 51% say that they would stay in their job if they were offered a flexible schedule, followed by 50% who would like increased recognition and 48% who would like their employer to act on employee feedback.
- 73% of working adults feel that flexility is one of the most important factors when taking a job.
- 47% of workers think that asking for more flexibility at work would damage their chances of a promotion.
- 39% of people have actually left a job because it wasn’t flexible enough.
What perks to staff in the UK want the most?
- 44% would like flexible working and the option to work from home.
- 20% would like a pension scheme in place.
- 19% would like an increase in their basic salary.
EU staff perks that UK workers want
- 55% would like a pension that will offer them a decent living wage when retired.
- 24% would like more annual leave.
What are the best staff perks offered to employees in the EU?
- In Luxembourg they are offered a contributory pay out pension of 103%, meaning it is possible for workers to earn more in retirement than when they were working.
- In Germany they are given an extra month’s salary each year.
- In France they have a 35 hour working week and are given 5 weeks of paid holiday a year.
- Switzerland are debating introducing a minimum wage of £2,806 per month.
Employee perks that don’t work
- Childcare – Employees not using the service feel like they are subsidising employees who have young children.
- An on-site gym – Only 28% of workers who are offered this actually use it.
- Free snacks and foosball tables – A bit of fun, but don’t improve employee engagement.
Unusual staff perks
- At Google they have an office slide and ball pit, so it appears they keep their staff happy by pleasing their inner children! They also offer free hair cuts and laundry facilities, to ensure their employees are looking smart.
- Microsoft have an on-site shopping mall that is exclusively for their staff’s use.
- AirBnB employees are allowed to take their pets to work and regularly go sailing.
Other important factors for job satisfaction
- 46% of workers want a visually pleasing environment.
- 42% want to work at an organisation that share the same values as them.
- 30% want food to be available to them throughout the whole working day.
- 29% would like to have lounge areas, where they can have a time out.
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