4 Reasons Why Company Perks Matter

Posted May 17, 2018

In today's workforce, perks matter. They can often be the reason why a candidate accepts a job, and a main reason why employees stay on board. As an employer, you have the opportunity to offer a variety of perks to your employees. From flexible hours and company parties to healthcare and bonuses, employees are looking for benefits that will make them feel like a valued team member, and keep them happy at work.

In today's workforce, benefits are more important than ever. Companies like Google and Facebook have upped the ante, offering perks such as 3 free meals a day, paid maternity/paternity leave, and on-site gyms and dry cleaning. So how can your business compete in a world full of awesome perks? Here are 4 reasons why perks matter, and what you can do to stay competitive when hiring.

1. The numbers don't lie

According Access Perks, 75% of employees reported that they're more likely to stay with their employer because of their benefit program. They also found that 35% of millennials have turned down job offers because they were dissatisfied with the benefits being offered. Whether you're hiring or not, these number show just how important perks are for on-boarding and retention.

2. Perks create work/life balance

One of the most valuable things a company can offer an employee is work/life balance, and perks can play a large role in offering that sacred balance to your team. Instead of boxing them into an office all day long, perks give employees a chance to feel like their day is in their own hands. Things like free snacks, a flexible schedule, the opportunity to pick kids up from school, in-office parties to celebrate holidays, or a game room are a great start.

Giving employees the power to control their day is known to increase production. Perks like in-office events and activities will give your team the chance to take a break from their computers and stretch their legs a bit and enjoy the company of their coworkers - only to return to their desk refreshed and ready to work. By allowing your workers to choose how they operate and letting them take some time for themselves in the office, you'll see much happier and driven workers in the long run.

3. Perks come in all shapes and sizes

Not all perks were created equal. If you company is operating on a small budget, there are still great ways to offer employees perks and benefits that will keep them happy at work. Instead of big company parties or dinners, take your team to a local park for a summer picnic. If you're unable to offer bonuses, give employees the chance to work one day a week at home so they can save a bit of money on commuting or gas. Offering creative perks will show your employees how much you care about their success, no matter how large or small your organization is.

4. Traditional perks are still important

Just because flashy perks from top tech companies are hot right now doesn't mean the tried and true benefits are unimportant. We all may love free sparkling water and happy hour on Fridays, but many employees would prefer traditional perks such as healthcare benefits, bonuses, and paid time off. Make sure your company benefit policies include the things that your employees truly benefit from.

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