When I work with clients to design perks packages, I always ask one question: What would you like this package to achieve? It makes sense that there would be an objective in mind, as companies invest thousands of pounds per employee each year to provide them with various additional benefits which, along with their salaries, contribute to their compensation package.
Usually, the objective is two-fold. Firstly, employee benefits exist as a way of reducing attrition and ensuring that your key players stay within the business. Secondly, employers hope that an excellent benefits package will attract exceptional new talent by setting them apart from their talent competitors.
So, why do the majority of companies in the UK stick to (roughly) the same benefits structure. You know the one I mean, it usually looks something like: Healthcare, Dental, Company Car, Cycle to Work scheme, YAWN.
Seriously though, these are all great benefits, but I’m yet to find a company not offering them in some shape or form. Ideally, these core perks would stay within your package (budget permitting) however you should aim to develop some more sexy additions. Examples which have worked well in the past have been gym memberships, complimentary healthy food at work, annual team away-days and travel budgets/significant discounts on company products. Certain ideas will be a better fit for your organisation than others. The key thing is that you try to offer something a little different to your competitors which might just have the edge for a talented job-seeker in your industry.
Another HUGE faux-pas of the perks package is listing benefits which cannot be enjoyed by all locations. For example, if your London office has a gym in the building – that’s wonderful – but advertising this as a company perk only serves to agitate team members in other locations who may be paying monthly for their fitness club.
It’s important to review benefits and perks annually to ensure that none have become dated or irrelevant, and to consider what else you might add. Ask your employees, they may have heard of great perks through their network which could be easily implemented into your workplace.
Log on and review your company perks today, do you have anything groundbreaking? If not, I’d love to give you some more personalised ideas. Get in touch at firstname.lastname@example.org for a chat!