Employee perks refer to the non-wage benefits that a company’s employees can take advantage of. Various perks help contribute to the company’s overall “benefits package” and can help improve the work environment, retain current employees. and attract new ones.
Because perks can fall under the “benefits” umbrella, it’s not uncommon for people to use these two terms interchangeably and/or confuse them. However, it’s important to note that perks are different from salary and benefits (like healthcare and dental).
Examples of company perks include learning allowances, company retreats, stock purchase programs, and tech stipends. The right perks ignite a slew of benefits; they can strengthen a company’s purpose, attract great talents, and are usually an inexpensive way keep employees happy and productive. Here’s what you need to know aout implementing culture-boosting perks:
Survey Your Employees
There are many statistics and reports that assess which perks are more important to employees. However, while these are good to use as a benchmark, there’s no better feedback than the feedback you get directly from the source: your team. You should make it a point to survey your team to determine which perks truly matter to them.
Employee surveys can help you glean information you might missed otherwise. For instance, according to the Collection 527, a coworking space with executive offices for rent in Los Angeles, more employers and employees are looking into coworking spaces amidst office closures and remote work. For some remote employees, access to coworking spaces might be an ideal perk.
It helps to create survey forms that are anonymous, allowing your team to give honest feedback about which perks are most important to them and how company culture can be improved overall. Employee surveys not only provide you with direct insight, but also show your organization that you care about their opinion and that their feedback has an impact on the direction of company culture.
Determine Your Budget
Regardless of what perk you decide to implement, you need to consider the cost of implementing that particular employee perk. You’ll need to conduct a thorough assessment of what the company can afford and what your tax options are. Always assume that all employees will exercise all benefits.
For example, if you’ve decided to offer each employee a learning allowance of $1,000 per year, assume that everyone will use the maximum budget annually, even if this scenario is unlikely. On the same token, it’s also important for you to conduct a cost analysis per benefit to determine how much you spend against employee salary.
Create a Perk Plan
Once you’ve determined your perk, it’s time to start creating a plan to adopt that perk. For example, perhaps beer on tap in the office is an employee perk people are excited to have. Who will supply the tap, how often will they come in, and what logistical steps do you need to take to ensure your perk is implemented and managed effectively? Often, this involves contacting third party service providers and arranging vendor contracts and agreements.
Once you’ve determined where the perk will come from, you still need to create a plan for it. Some perks will have easier plans than others. For instance, beer-on-tap is pretty straight forward, but a learning allowance might have a more detailed plan (such as requiring approval by manager).
Communicate Your Perk
Your perk should be communicated to your entire organization with efficiency. The last thing you want to do is implement a perk that no one understands or has difficulty using. Start with a general email announcement to your team. Don’t be afraid to inject humor into your messaging and have fun; after all, this is an exciting culture booster!
You’ll not only want to communicate your perk, but communicate your plan and provide resources. Make it easy for your employees to reference information about any perks (and benefits). For instance, you might create a wiki page on Confluence with a tab for perks and benefits; this way, your team can pull up information they need, whenever they need it.
Update Your Messaging
Once you’ve created and communicated your perk, it’s time to include it in your messaging. You’ll want to list your perks on your “Careers” pages and in job descriptions for new positions. This is something to consider as you’re in the process of adding new perks to the organization. If the perk doesn’t align with the company culture you’re attempting to cultivate, the messaging could look mixed and confusing.
Be the first to comment