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Show Employees Appreciation And Retain Top Talent With These Five Perks
Posted by Insightlink on 01/05/16
When asked about the most important factor in job satisfaction in a recent survey conducted by the Society for Human Resource Management, 72 percent of respondents agreed that respectful treatment of all employees is paramount. When considering your company's benefits, respect should be a common theme as well. Here are five perks to show your team that you respect them and value their hard work so you can retain top talent for the long haul.
Your employees' education doesn't just help them, it benefits the company, too. Encourage all employees to advance their skills with continued education. Whether it's taking a single class or earning a Master's degree or doctorate, your company should encourage employees to seek out more knowledge in order to get maximum fulfillment on the job. By subsidizing education costs, your employees can also feel more respected and valued.
Unlimited Paid Time Off
Netflix garnered national attention when the company announced unlimited paid time off (PTO) for employees. While many critics initially scoffed at this perk, saying it would not be sustainable in the long term due to possible employee abuse, other companies like General Electric and HubSpot have since adopted similar policies as well.
With an unlimited PTO policy, employees feel more respected and trusted to get their work done while achieving their own work-life balance. As a bonus, an unlimited PTO policy eliminates the need for HR to track time off for every employee.
It's easy to overlook employee gym memberships as a frivolous perk meant to lure health-obsessed millennials; however, there is a strategic argument for subsidizing fitness perks. The Harvard Business Review dug into this very issue and found that companies that offered free gym memberships for employees saved millions on health-care costs. For instance, Johnson & Johnson's corporate wellness programs have saved the company more than $250 million in the last decade.
When choosing which gym to offer employees a membership to, research your local options to find a gym with multiple locations throughout your local area, as well as in any other states where your company has offices, or where employees might travel for work. For instance, a national chain of gyms like 24 Hour Fitness is an ideal option due to their numerous locations throughout the country, as well as perks like babysitting and group fitness classes.
Unlimited Parental Leave
Follow Netflix's lead and offer your employees unlimited parental leave. Like unlimited PTO, the majority of your employees will respect the flexibility that you are offering and won't abuse your trust.
While U.S. law only requires you to provide 12 weeks of unpaid parental leave, if you respect and value your employees, it is well worth offering them as much time as they need after welcoming a new child to return to work. By requiring your employees to return to work too soon, you risk losing employees who need a bit more time and flexibility to adjust to their new role as a parent.
To make this policy work, it's essential to encourage clear communication about the changes in workflow through every step, from before leave begins to transitioning back to work. Have managers and employees work together to craft personalized plans for each individual's situation rather than trying to maintain a one-size-fits-all plan. Encourage your team to think outside the box and offer ample work-from-home time and part-time hours when transitioning back into the office after parental leave. Many companies are even offering "baby at work" policies, in which new parents can bring their new babies to work with them until the babies become mobile at around six months old.
Encourage an atmosphere of giving by offering a donation match program. Match donations made by employees to non-profit organizations up to a pre-specified dollar amount of your choosing. Accounting will love the business write-off aspect of this generosity, while your employees will feel supported with your contribution to a cause that is near and dear to their hearts.
Where does your company stand on each of the critical "4Cs" of employee engagement and satisfaction?
How many of each do you have?
AboutInsightlink Communications are experts in employee survey design, data collection and analysis. Since 2001 we've helped companies of all sizes measure and improve their employee satisfaction and engagement.
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