You all heard about companies like Google that offer their employees incredible number of benefits so that they stay loyal and productive. In reality, not all of those perks are meaningful. Even with a modest budget, you can create a strongly competitive compensation package while focusing on things that matter to exactly your employees.
Here are the criteria to help you select the most important corporate benefits for you company.
Smaller companies tend to have a better vibe and, therefore, thrive to keep the team spirit. Employees spend a lot of time together, sometimes even outside of working hours. Therefore, perks that are suitable for groups (yoga, sport activities or entertainment) may be working better for companies of up to 50 employees.
In larger companies, you have to consider needs and preferences of numerous employee profiles. You may land offering too many perks if you don’t make the proper research about what people are essentially interested in.
This one is pretty straightforward. A fashion startup or a PR-agency would have more female workers while tech or sports companies are attracting male contributors. Since men and women have different needs and ways of working, the set of perks may also be affected.
Fractl made a research among 2,000 US workers which shows that women value free time and flexibility the most while men are primarily interested in material perks (food, drinks, gym) and spending time with the team.
Many employees at the age of 30 and above are becoming parents. It’s obvious that babysitting sponsored by the company would be one of the most preferred perks.
Also, people tend to pay more attention to health as they grow older. Generally, health perks can be anything — from classic insurance coverage to dedicated courses. Companies tend to offer gym membership, yoga classes, nutrition planning sessions, fitness coaching and more. Find the perks that would work for most of your employees.
Let’s not forget that running an office in the downtown is also a perk for employees. If you have many commuters in your company, you can consider sponsoring their monthly tickets for public transportation or car sharing / bike sharing rides.
Do the opinions of employees matter? Absolutely! However, listening to them too much may lead you in the wrong direction. Therefore, look for matches between your ideas and their preferences rather then blindly following what they may consider cool.