Employee benefits

6 Modern Office Perks Employees Want (& Those They Don’t)

During this period of time when employees are quitting their jobs in record numbers, companies are looking for ways to differentiate themselves by attracting new talent and retaining existing employees. Corporate perks and benefits have long been looked at as a way to stand out.

But as organizations implement these modern office perks, the question remains: What benefits do employees value most?

It is becoming increasingly important for business leaders and HR professionals to optimize perks and the best company benefits, zeroing in on what it is that leads to satisfied employees. Using data from our recent Talent Retention Report, we’ll look at five modern office perks employees want and those they don’t.

 

employee benefits on computer

 

The 6 Best Company Benefits that Employees Want

For our 2021 Talent Retention Report, we surveyed 3,948 U.S. workers from 57 industries about what perks could convince them to stay with their current employer if they considered taking another job. Let’s dive into how you can leverage these perks for your organization.

 

1. Growth/Advancement Opportunity (48.2%)

A pay raise will always be appreciated, however, of the top seven perks rated by employees, five have nothing to do with earning more money. In fact, ranking in second place is the ability to grow or to see career advancement opportunities.

For HR professionals, it is critical to assess what paths for growth currently exist within your organization. Implementing mentorships, building an internal job board, and putting together advancement paths are all ways of helping employees see a long-term trajectory of growth with your business.

 

2. More Flexible Schedule (41.3%)

The modern-day employee is extremely busy, and with an increasing number of family households being run by two income earners, flexible scheduling can be a game-changer. Allowing employees the ability to pick up their kids from school, attend a doctor’s visit, or even set their hours based on their personal preferences can go a long way in keeping employee morale high.

 

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3. Remote Work Options (31.8%)

Along with flexible scheduling is a desire to have remote work options. These two go hand in hand, demonstrating that employees want to be trusted to get their work done while still navigating their daily lives.

 

4. Training and Professional Development Opportunities (37.2%)

Similar to growth and advancement opportunities, employees see training and professional development as a perk worth sticking around for. Investing in training courses, allowing employees to attend industry conferences, and implementing measurable development goals can create a sense of growth and belonging.

 

5. Cash Bonus (36.9%)

For many employees, it isn’t just about making more money in their role; it is about being rewarded based on performance metrics. A cash bonus is an effective tool for highlighting your top performers.

 

6. Meaningful Employee Recognition (32.4%)

Along a similar vein, employees are looking for meaningful recognition in the workplace. However, don’t confuse this for a simple “Employee of the Month” plaque on the wall. Recognition needs to be specific and consistent in order to be meaningful, and you should recognize employees based on their individual preferences. Some may like the spotlight, while others may not.

 

Man unhappy at laptop

 

Ditch These Perks

On the flip side, these perceived benefits are often seen as a band-aid approach to fixing larger employee satisfaction problems.

  • Unlimited Vacation: Commonly used as small business employee benefits, giving your employees unlimited vacation sounds nice on paper, but in reality, it often actually results in more anxiety around taking days off. When employees have a set number of days that are expected to be paid time off, they feel free to use them without the fear of being perceived as slacking off. Opt for a generous PTO policy instead of a vague vacation plan.
  • A “Fun” Company Culture: Foosball tables, beer kegs, free meals, and company parties might seem like they will turn your organization into a fun place to work, but realistically, most professionals would much rather be offered growth opportunities, fair wages, and flexibility in their work rather than a party-at-work vibe.
  • A Special Title: Trying to make your employees feel more important by slapping a special title in front of their name won’t create long-term happiness. Professionals would rather see realistic advancement and meaningful job titles that accurately reflect the work they do and their level of responsibility.

 

Retaining your employees is critical to the success of your business. Check out more articles on retention strategies in our Employer Resource Center.

By iHire | April 13, 2022