Are Work Perks Effective in Maintaining Employee Satisfaction?
24th March 2020
The employer-employee relationship is changing all the time. Priorities and focuses change all the time, and in 2020, the emphasis is on employee satisfaction. A happy employee is a productive employee, so it’s an important thing to pursue in your business.
Satisfaction hinges on a lot of elements, but work perks play a big role in this. So why are work perks effective in maintaining employee satisfaction and what perks do your employees want to see? Read on to find out.
Why are perks so important for employee satisfaction?
Work perks have become a crucial sticking point in staff recruitment and retention.
As the job market becomes increasingly candidate-driven, the onus has been placed on employers to entice and retain the best and brightest. Beyond a decent salary and job progression, work perks are crucial for keeping top talent within your ranks.
The efficacy of work perks lies in their pivotal role in employee satisfaction.
Employee satisfaction is vital in helping a business succeed. A happy employee won’t look elsewhere for another role and will be more productive and efficient by virtue of their satisfaction.
What perks should I consider to maintain employee satisfaction?
It’s clear that work perks play an important role in maintaining employee satisfaction. But what kind of perks do these include? Here are a few examples.
- Social perks
One of the most obvious kind of work perks you should include in your company is social perks.
When an employee spends the majority of their waking hours at a business, it’s important to ensure they jell with their teammates. Part of employee satisfaction is about getting on with your colleagues, and social perks play a big part in this.
Subsidised bars on nights out, Christmas parties, team away days, charity volunteering days — these all give your team a chance to mingle without the pressures of work around them.
Corporate getaways, in particular, are a great way to help your team integrate and create positive bonds between each other.
Many providers, like Humble By Nature, for instance, offer extracurricular courses such as cookery or crafting, to better help your employees spark conversation and work together to achieve a goal.
You don’t need to break the bank, but a few social perks can really help make your employees’ experience of work better, increasing their overall satisfaction as a result.
- Fitness perks
Working a 9-5 desk job can be physically taxing. Not in the same way that working on a construction site, by all means, but sitting down at a desk all day certainly takes its toll.
Combined with long commutes and family commitments, finding the time or money to exercise can be tricky. When exercise is so crucial to general happiness and wellbeing, it’s important that every employer gives their staff the time and space to enjoy it.
As such, free or subsidised gym memberships are a great work perk that pays dividends for your employees’ wellbeing.
Beyond this, you could also offer bike schemes, in which an employee can save a certain percentage off a new bike when it’s bought through work. This both encourages employees to get fitter and gives them a much-needed mental boost before they get into work.
- Family-centric perks
In past years, many women (and, indeed, a few men) have had to choose between starting a family or pursuing a career. However, with the advent of technology and modern working practices, this is increasingly becoming a thing of the past.
Consequently, many employers have begun offering work perks specifically designed to allow and encourage employees to start a family and pursue a career at the same time. Work is better if you know you’re able to provide financially for your children, so this is crucial for employee satisfaction.
At the low end of the scale, this includes things such as flexitime and versatile working from home policies. These let working parents fit their child’s schedule around their work schedule, balancing job and family in a way that works for both.
At the other end of the spectrum, some employers are even funding IVF and other fertility treatments for their staff too. Of course, this can be expensive, so it might be out of reach for many businesses. But if you can afford it, it’s something worth considering in 2020.
- Safety and security
Work perks don’t always relate to leisure or recreational activities. Employee satisfaction hinges on more than fun perks — it also hinges on safety and security in the workplace.
If your employees are often required to travel for work, for instance, you could provide insurance and cover for their journey. This might seem basic, but there are many employers who fail to provide even this most standard of protection.
Plus, with the plethora of providers and application of comparison websites, these perks don’t need to be expensive either, especially when bought in bulk. Some annual travel insurance policies.
While it might seem simple, this level of cover reassures your staff that they are valued as employees. It’s something many companies fail to provide, and it’ll make yours shine all the more as a result.
Employee satisfaction should be on the minds of every employer in 2020. Take inspiration from the list above and offer stellar work perks that make your employees feel valued and worthwhile today.