Ask anyone in today’s workforce and they will likely tell you that they are looking to work for a company that offers more than just a competitive salary, retirement plan and insurance benefits (although these things are still important). Instead, they want the kind of unique, and often simple, perks that make them feel appreciated. What they won’t tell you-and might not know-is that these perks can help increase company profits, as well.
Employees want customized perks that speak to their unique needs. This is good news for small- and medium-sized businesses that don’t have the budgets to compete with larger companies in terms of employee benefits. Why? Because customized perks don’t have to come with a hefty price tag.
It may come as a surprise to many business owners that affordable-but more personalized perks-can bring increased job satisfaction. These type of perks include things like free lunches, free or subsidized coffee or soda vending machines, as well as memberships to fitness centers or even onsite yoga classes.
While bigger perks are still appreciated, they aren’t as tangible to many employees. This is especially true of younger employees who view retirement as something far off in the future. These employees are often equally, if not more, interested in concierge services such as tickets to the theater or restaurants, free dry cleaning services and tuition reimbursement for classes at the local university.
While these type of perks lead to happy employees, they also lead to more satisfied customers. After all, who wants to interact with someone who is disengaged and clearly unsatisfied with their job? When employees are treated well, they treat customers well.
For example, say you offer your employees free drinks and snacks from vending machines. Employees who have free snacks throughout the day are better able to stay focused because they have the ability to take a refueling break when needed. This makes employees happier which boosts morale. And repeated studies show that increased employee morale equates to increased productivity and a feeling of being invested in the workplace. And employees that care about the company they work for are more likely to continue working there, reducing turnover. Talk about a win-win.
In the end, no matter how you engage and reward your employees, the key is to make sure you are sincere and thoughtful in our efforts. If your employees feel unappreciated, your business will suffer the effects of those feelings through high turnover rates, low morale and even lost customers.