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Perks at Work: Big Deal or a Little Luxury?

Perks at Work Big Deal or a Little Luxury

 

What’s one way to attract the best talent and keep experienced employees motivated? More and more workplaces are offering incentives like free hot coffee. In fact, these have become expected in many fields and positions. However, solid data on employee perks has been hard to come by … until now. Andrews Sykes Air Conditioning conducted a national study in the UK. They examined what perks companies offer and whether they actually boost employee morale and productivity. Here’s what the study found:

Can Small Perks Make a Difference?

Mention ‘workplace perks’ and some people will picture dramatic on-the-job advantages like extended paid vacations or Google’s famous ‘energy pods’ for workday naptime. However, it’s often the smaller, more commonly offered perks that can make a big difference. These may include designated changing areas, installing lounge chairs, or throwing monthly parties with free food. However, the most commonly seen workplace benefit is complimentary hot caffeinated beverages. Over 50% of the office workers in the study had access to this.

 

The workers not as lucky to enjoy coffee on their employers’ tab needed to buy their own hot drinks. On a day to day basis, this doesn’t seem much of a financial factor. However, it adds up to this employee paying out-of-pocket almost £1000 a year. The people who received this perk could devote that money to bigger yearly splurges like a vacation. It also benefited the company as the employees were alert, in a better mood, and did not devote time to go out for a quick cup of coffee.

What Incentives Are Most Attractive to Employees?

One way your business can set itself apart in the job market is by offering less common, but still compelling, incentives. An up-and-coming trend is a flexible work schedule. This lets your employee decide their own hours, allowing them to tweak their schedule to when they’re most productive. Many also appreciate having more of an influence on what their work schedule will look like.

 

According to the survey, almost 45% of prospective employees consider this perk highly desirable. If your company incorporates this incentive into your employment package, you may attract a higher calibre of job candidate. Flexible schedules can also increase employee morale and retention.

However, other desirable perks include:

  • A more relaxed dress code, at least on certain days (think ‘Casual Fridays’).
  • Free snacks such as pizza or sweets.
  • Company-funded activities including seasonal parties and team outings (only 10% of employees have this opportunity).
  • The option to work from home, at least part of the time.
  • Having a say in what the office temperature will be set at.

The Real-World Effects of Office Perks

It’s a no-brainer that employees want extra perks, but what results will your business see? Will they be cost-effective to implement in your company? There are no guarantees in business, but according to the study, employees find these perks highly motivating. One in five employees would work harder, almost two in five would feel more motivated, and half would be overall happier. All of these factors put together could equal a focused and highly productive workforce.

 

Now that you have a killer benefits package, where can you find the best job seekers? Experienced employment agencies like Ad-VANCE Talent Solutions can help. For more than 20 years, we have been connecting employers with candidates in a wide variety of fields including Administration, Clerical, and Healthcare. Contact us today to find out more.

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