Company perks are an investment into your company. There are more jobs than there are people to fill them. In this competitive employment market, you need unique and attractive perks if you want to win over top talent and keep them for the long term. Great company perks can also improve performance and productivity. Here are three signs you should invest in company perks.
You Have Too Many Employees Calling in Sick
Company perks like wellness programs and on-site gyms can help improve both the physical and mental health of your employees. Wellness programs will encourage your team to adopt healthier behaviors, such as exercising more and eating healthier. Over time, you will see that your employees are healthier, which will improve overall productivity. Having a healthier diet and more active lifestyle improves the productivity of your team members by improving their energy, focus, and motivation.
Your Employees Stress Too Much about Finances
Financial wellness programs have become an increasingly popular company perk. Young professionals have so much debt from student loans and high living costs that they are frequently stressed about finances. Many companies have started to offer financial education to their employees to help them improve their debt management and financial planning. Some companies also offer student loan assistance for their employees which has proven to be a popular perk. Such programs have also proven successful in improving retention. Monthly “income minimums” are a useful benefit to help employees with significant ups and downs in their monthly income, due to a high percentage of their income being tied to sales and commissions. This “monthly minimum” helps provide a stable “floor” for monthly budgeting and other good habits.
Your Employees Don’t Feel Ownership in the Business
Why not help the employees get a better understanding of the overall profitability of the business so that they can see how their day-to-day efforts can make an impact? This not only provides more job satisfaction with a feeling of “I can make a difference,” it helps each employee operate as a mini-CEO and this can be rewarded with a share of the company’s profits or “profit-sharing.”
You Struggle to Find and Retain Great Talent
If you struggle attracting and retaining talent, you definitely need to rethink your company perks. The benefits you offer have should appeal to a wide variety of successful professionals. Some perks you can institute that will help with retention include work-from-home opportunities, maternity and paternity leave, and a great healthcare program. Employees today really care about work-life balance, so parental leave and remote work opportunities are popular. Given the rising cost of healthcare, a comprehensive healthcare program will also help improve retention, especially for employees who have families.
Employees today care about more than just salary and job security. They want to live a healthy lifestyle and be able to spend time with family. They don’t want to feel constantly stressed about work and finances. Unique company perks like wellness programs, work-from home opportunities, profit-sharing, and financial wellness support will not only help your company attract better talent, it will also help you retain that talent. These perks will also allow your team members to work more effectively, so it is a win-win situation for everyone.