Today’s war of talent is influenced by creative perks and benefits an employee gets from an organization. With some industries having trouble filling key positions, companies are looking for a recruiting edge. Recruiting the best talent is not at all the same thing as retaining it. Enticing perks and offers can get the top talent to your door, but it is culture and values that will motivate them to stay.
Aligning the benefits and perks with a company’s culture is critical to attracting and retaining high-performing employees. Employee engagement can be improved in the following ways:
Offering Real Value to Employees
Salary, workplace culture, and benefits like paid leave and health insurance are the top priorities for employees. The additional perks must compliment but shouldn’t replace these core benefits. Flexible or even unlimited vacation time is becoming increasingly popular in high-tech companies, yet extra time off means little if employees don’t feel free to use it. In general, employees are earning more paid time off but leaving well over a quarter of that time unused. The benefits and culture need to work hand-in-hand.
Are perks and benefits like unlimited vacations and paid sabbaticals really worth the investment? When it comes to the top performers of an organization, the answer is yes because the top one percent of the company generates fifteen to twenty percent of the value. So, anything is fair to attract and retain this top one percent.
Express the Shared Values
The perks and benefits are more effective when they align with the company’s culture. A swimming pool at the company not known for fun might come across as empty gesture. Whatever perks a company is offering should be beneficial to the employees, and most importantly, they should be able to take full advantage of those perks. At the same time, the extras must serve a practical and behavioral purpose, and a symbolic and cultural purpose too.
Make Employees Feel that They Are Valued
Most organizations never think of the quality of work experience as a benefit. But, the right combination of tangible benefits and the total employee experience that creates the trust, keep employees motivated and engaged.
Modern-day employees are looking for an employer that supports them as whole individuals, not just as workers. Business leaders can demonstrate this commitment by investing in their employees’ professional and personal development through mentoring, training and coaching. Most forward-looking companies have started viewing such one-on-one support as an integral part of their HR policy.
Companies can no longer afford to compartmentalize the benefits and employee experience. Both can contribute to shaping the organizational culture, and there is a need to integrate them and other intangibles into a single holistic vision.
Most of the time, the leaders and managers tend to oversee some of these little things they can do to make their employees feel valued, whether it’s perks and benefits or treating people with respect and asking them about their wellbeing.
The Bottom Line
Engagement is not only an event, an incentive program or a fun perk ¬– it is also about building relationships and shaping an environment allowing employees to thrive. A workplace culture that recognizes and supports the employees as whole individuals benefits the employers and their bottom line too. Showcase the real value of benefits to your employees to improve employee engagement and retain them for the longer-term.<< back to Blog