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Employee Perks to Improve Retention and Boost Morale

by Jody Ordioni

The best employee perks are not those that provide material benefit, rather those that give strong value to the system and serve a purpose. Building camaraderie, providing better facilities to improve the lives of the employees and their family, and caring for your employees are the best perks that a company can offer. Here are a few perks that the workforce believes are important to boost morale and improve employee retention.

Working from Remote Locations

People are happier to work from their place of choice as it provides them comfort and the right parameters to remain refreshed. It can be a simple benefit such as working from home or working a few days a week, which allows the employee to appreciate the company. It shows that the company trusts them. Respecting their time will guarantee respect at their end for the company.

Health is Wealth

Setting aside a minimal cost for an employee to use for health-related cause, implies that the company cares for the well-being of its employees. It is up to the employees, how they wish to utilize the benefit. It can be used to pay for a gym membership or hiring a nutritionist. You can involve the whole office by creating a holistic wellness program, that functions in the office hours- a yoga class or an aerobics session.

Flexible Working Hours

Working in an office for a set number of hours can feel a tad constraining. If your team fulfills their responsibilities, never misses a deadline, and has zero issues in the discipline, then you should not nitpick and force them to stick to their schedule. Being productive is more important than following the routine.

Constant Learning and Personal Development

Allocating time and budget for education opportunities and offering such chances to each employee opens up new possibilities for them. Subsequently, it also benefits the company by upscaling the skills of the employees. It also increases employee engagement since people wish to learn new skills.

Multiple Bonus System

It is imperative to reward the hard work the employees put in to make the company functional. Rewards can be given for good performance, a good relationship with the clientele, and loyalty to the company.

Helping with Student Loans

Most of the working staff carries some amount of student loan from their university days, the stress of which can truly impact performance. If the company is able to help in paying the amount in any capacity, it should help out the employee. Not only does it provide relief, but it can also increase the loyalty of the employees towards the company.

Time Off without Conditions

Often employees need a day off to finish some necessary errand or just declutter their mind of job-related stress. Knowing that they can take a day off without losing out on pay or facing any repercussions can be a huge relief. It is an important company policy that helps to avoid stress and boosts the morale of the employees.

Company Retreats

A company retreat, even a yearly one, can be a great bonding exercise for the employees. Senior employees appreciate the time off and enjoying the time with their ‘work-family’ and junior employees can find a great way to integrate within the social milieu.

Outings

Outings hosted by the company can be a fun way of bonding and improving the morale of the employees. An uninhibited environment, outside the space of the office, creates camaraderie. Fun and creative activities such as paintball or happy-hours create an ambiance of belongingness in the company.

Pizza Friday

The family that eats together, stays together. A great way to improve retention and boost morale is to have lunch together, at least once a week. It can be with your department or, if your company is small, with the whole office. It leads to positivity in the work environment and develops intrapersonal relations.

The Bottom Line

It can be difficult to maintain high morale within the company, all the time. However, a leader of the company is like the captain of a ship, it is his job to keep the team together and energized. There are various challenges to this task and success is not ensured always but pulling the team together is the most satisfactory feeling in the world.

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