You might think that offering more pay is the only way to really keep employees engaged with their work. And, yes, it’s true that everyone wants — and needs — to be fairly compensated for their work. But you only need so much money. At a certain point, perks and benefits become more important than salary.
And we’re not just talking about health insurance, paid time off, and retirement plans, here — you should be offering those things anyway, especially if you want to attract good candidates. To draw in more of the real talent and keep your existing employees loyal to the company, try offering some of these coveted perks.
1) Flex Time
Everyone’s busy, especially these days. Employees might have kids going back and forth from online to in-person school. They might be isolating after COVID exposure or recovering from a bout of the illness. They might be getting vaccinated. And, of course, there are all the usual things that have been disrupting workdays since time began — sick kids, flat tires, bad weather, and poor mental health, for example. Plus, these days, many of your employees may be moonlighting to make ends meet.
With the realities of modern life seeming to place more and more demands on our time each day, good candidates want to work for companies that offer flex scheduling. Offer your employees the option to come in later and work later, or work four ten-hour shifts a week instead of five eight-hour ones, or work through lunch in order to leave an hour early some days. If it doesn’t matter what time of day the work gets done, then you don’t have to hold your employees to a strict schedule.
2) Tuition Reimbursement
Employees want you to invest in their professional development, and there’s no better way to do that than to offer tuition reimbursement for employees attending qualifying master’s and bachelor’s degree programs. If you’re worried about employees flying the coop once they get a degree on your company’s dime, fear not — you can require employees to remain with the company for a few years after the degree is completed in order to capitalize on your investment and get a better-educated workforce. Those who may want to pursue further education to advance their careers will be attracted to your company for the opportunity to save money on tuition costs.
3) Improvements to the Work Environment
No one wants to spend their working life staring at the gray walls of a cubicle. Today’s employees are demanding that the workplace be a welcoming and comfortable one. Collaborative workstations, sit/stand desks, live plants, natural light, and nice artwork are some of the trendiest ways to make the workplace more comfortable. You can attain employee retention at work by using these following strategies. Allowing employees to listen to headphones while doing their work, offering refreshments, and providing private break areas can also improve the work environment.
(4) Employee Discounts
This perk won’t make sense for every organization, to be sure, but if you’re running a retail location or a restaurant, or some other business where employees may become customers after they clock out, then offering an employee discount is a good idea. You must know the working benefits for employees and perks that they actually want. Employees won’t think very highly of you if you fail to offer a discount to employees who want to buy your goods and services.
5) Regular Remote Work
If there’s one thing that we’ve learned over the past couple of years, it’s the value of being able to work remotely when the situation calls for it. Employees who have worked from home for a year or more due to COVID may have gotten used to the convenience of a morning commute to the couch, and they know that more companies are open to telecommuting, now that they’ve seen it doesn’t harm productivity. If you don’t offer your employees the option to work remotely at least some of the time, they may very well jump ship for a company with a more accommodating remote work policy.
You don’t have to give out raises to keep your employees engaged with your company and their work. Assuming your employees are sufficiently compensated, the right perks might get them more excited about their work than another raise. Create the kind of workplace that fosters loyalty and dedication, and you’ll hang onto more of your employees longer and get more out of them, too.