In today’s economic climate, it’s imperative to understand what candidates want from the world of work. From clear routes of in-house progression and strong job titles, many are searching for roles with strict criteria in mind, and will not settle for a position unless it fits the bill entirely. One major factor when it comes to choosing the right role is the incentives that companies have to offer. In fact, our research tells us that 54.4 per cent of workers would be influenced by workplace perks and benefits; suggesting that businesses should be placing a higher importance on ensuring their packages are competitive and meet workers’ needs and expectations.
Boosting staff morale
Workplace perks and benefits are also a great incentive to keep staff happy and motivated. Stress levels amongst UK workers are higher than ever before, prompting many employers to reconsider how they reward staff members for their hard work and encourage them to take time out. Organising after work drinks, or team awards for outstanding performance, helps workers to see that their hard work is being recognised and rewarded by their employer. Don’t just limit this to seasonal events such as Christmas; we all need a little motivation boost every now and then, so keep tabs on morale levels and take the appropriate action when needed.
Standing out amongst competitors
We’re all aware of the likes of Apple and Google promoting their extravagant perks – from in-office hairdressers, to free, catered lunches every day – and this has prompted many businesses to reconsider how they can up the ante and attract talent with perks. According to our data, most employees would choose to have more time off as a workplace perk, or something practical that saved them money, such as a gym membership. In fact, despite many companies offering ‘quirkier’ perks, such as massages at their desks or a yoga class at lunch, only 2.1 per cent of employees would opt for incentives like these. Determining what you can offer that differentiates you from your competitors is key, but don’t go too left field with your ideas; it’s clear that workers still appreciate traditional workplace perks.
Small incentives, big rewards
Not all organisations can compete on the same level as some of the global giants, so finding out what suits your company can really help. At CV-Library, for example, we’re still a relatively small company, but we ensure we still offer key benefits such as allowing staff to leave early on their birthday, regular social activities and shutting the office doors at 5.30pm so no-one can stay late! Most of our staff live locally because they want a job that offers a good work/life balance – so that’s what we give them. It means that we get maximum output during working hours and they get to go home on time. Understanding your employees’ needs and meeting them in the best way possible will pay off.
When managed effectively, workplace perks can go great lengths to creating a happy and productive workforce. Today’s candidates have more power than ever, so if businesses are looking to attract the best talent then they must remember that perks can go a long way to retaining staff and keeping them engaged.
Lee Biggins is the founder and managing director of CV-Library, the UK’s leading independent job board. From an early age, he exhibited an entrepreneurial spirit. From selling cold cans of coke to fishermen on hot days, to running his own car washing empire as a teenager, this spirit carried through to the developmental days of CV-Library.