10 Best Work Perks That Your Employees Will Love
Businesses around the globe manage employees by looking at two major factors: i) employee is competent; ii) the business could fully utilize their skills and expertise to generate revenue and expand as a company. Employee retention is something that is very important when it comes to building your company’s repute as an good place to work at. That happens when employees receive a healthy amount of benefits to help them maintain a good work-life balance and an interest in the work they are performing.
10. Medical Insurance Facility
Usually, everyone has a family to take care of and bills to pay. That’s a given unless someone is born with a silver spoon in their mouths. On top of all this, it is natural that it will be a huge financial burden on them if medical bills are added to the ‘things to pay for’ pile. Therefore, medical insurance makes sure that should there medical emergencies arise, the insurance can help pay the bills for the employees and their respective families. This counts for a great work perk, which will motivate the employee to work harder and put their best foot forth.
9. Paid Annual Vacations
No human can work around the year without taking any off day or a certain number of vacations. Therefore, paid annual leaves count for a much welcomed and needed incentive that serves as a break from the monotonous work routine. The employees get a chance to spend some quality time with their family, without work stress and interruptions. This will serve as a clean break for them to freshen their minds, gather their thoughts and come back to work with a revitalized mind and demeanour. Another reason why employees are happy to stay at a company for extended times – the perk of annual leaves.
8. Performance-based Bonuses
When someone works hard, they deserve to be appreciated for it. Performance based bonuses are a way to let an employee know that their hard work matters. It further goes on to show that the benefits are not only to be reaped by the company alone, but the profits are to be shared with the employees who contributed the most as well. Bonuses are a great way to express appreciation and acknowledge the hours put in by the employees. It is the best incentive to push those who didn’t earn the incentive to work harder and with increased sincerity.
7. Increments and Promotions
As a person’s time in a company increases, it is natural to expect that their experience and knowledge base will increase too. If they grow knowledge-wise and expertise-wise, their newly acquired skill set can be used in different departments. If the company doesn’t acknowledge this growth, then they are not fully utilizing their existing resources, and rendering the company to go into loss. Give your existing employees an opportunity to grow and expand, experiencing work in different departments to provide them with opportunities to learn. The best way to go about this is through promotions and increments every other time an employee grows within their defined career paths. When they see a future with you, they will not be planning to leave your company.
6. Flexible Work Timings
Every person is different. Everyone works at a different pace and has their own way of coping with work. Some are night owls, others are morning people. Some work pomodoro, others work best at a stretch. It depends on their own schedule, nature of work and timings. Employees generally prefer companies where work timings are flexible. They can come and go whenever they want, on the condition that they complete their designated work hours every week. It is one of the greatest perks a company can offer, i.e. allowing their employees to work in their own time, as long as no time is wasted and results are delivered on schedule.
5. Classy Office Spaces and Machines
It is a known fact that work productivity is at its highest when employees work with a relaxed mind, leased interruptions or distractions and in a stress-free environment. If a company provides their employees with comfortable places to sit, allows a casual environment, and offers them with good laptops or computers (those that don’t take an 20 minutes to power up and don’t stop to take rest in the middle of a deadline), work productivity will increase considerably. Not only that, it is a great way to motivate employees to work. A comfortable and classy workstation will make the employees actually want to work. According to Aristotle, the great philosopher,
4. Employee Training Sessions
Investing in your employees means reaping the benefits in near future. Employee training sessions are an essential part of having a fully trained workforce. Instead of individually explaining the new features or services, or how to go about a certain project, or introducing your employees to a certain skill set, it is much more feasible to hold training sessions and having the experts deliver lectures or host workshops to properly train your employees. They will be truly grateful for this and learn a lot of new things than just blindly going about the work routine, failing at tasks, and getting a bad repute just because they were not taught certain skills or work methodologies. If they know better, they will work better, helping your company generate revenue and profits.
3. Special Discounts for Employee
Businesses generally have partnerships with many local and international brands. It depends on how established a business is and how well are they woven into the industry’s fabric. Anyway, the companies can take some steps about this and draw out deals that allow certain discounts for their employees. For instance, a software company can get discounts on other softwares, development tools, and certain courses that may help their employees to grow and learn more with great discounts. It is all about gesture, which the employees will definitely appreciate when they are made to feel like their company and employers actually care about them.
2. Stock Purchasing Options in IPOs
Whenever a private company goes public, it is considered a great initiative that the company first offers a chance to purchase the public shares to their own employees. If not all, then a certain portion of the shares must be reserved for the employees of the company. This gesture is truly appreciated by the employees and it gives them the impression that the company wishes the employees to own a certain portion of the company that they helped reach to an IPO level. It shows that the company values its employees and will allow them to reap the benefits before anyone else.
1. Health and Wellness Programs
These could include gym memberships, discounted yoga classes, an in-house gym, indoor gaming and physical exertion activities. Physical activity has tremendous positive effect on the human mind, allowing it to grow and nourish at a faster rate. Short breaks from work and indulgence in gaming and such activities can help the employees to perform better, be good at indoor sports and rejuvenated at work.