If you give your employees massive amounts of “perks”, they will want to stay with your company, and be more effective employees, right? This used to be the general consensus, but times they are a changin’. Employees still like traditional perks, but the millennial generation is now more focused on quality and longevity. You may be surprised to hear that they want stability with a company that has a vision that matters to them; somewhere they can see themselves working for the foreseeable future.
So let’s start with perks that employees still look for when choosing where to work and be sure to look for my next blog going into what millennials are looking for beyond just perks.
Just because perks no longer work on their own does not mean that employees don’t look for them when deciding where to work. For example, when I interviewed with Amadeus Consulting, I found out that they have an easy to use espresso machine in the employee cafe. They also have a fridge stocked with every kind of milk you can imagine. No more morning coffee stops for me; I come into work and make my own drink each morning, saving me extra stops and money. It may not be huge, but it has made my life just a little better each morning. This is what perks should do, make your day just a little better and easier. They don’t have to be expensive perks, in fact, some perks don’t have to cost employers a thing!
Perks need to be something that becomes part of the company brand, showing employees that that the company values them. One of the most popular perks is flexible hours and locations. I am a morning person and I get more work done between 7:30 and 9:30 in the morning then I do after 3:30 in the afternoon. I love having the flexibility to come into the office at 7:30 and leave around 4. I work with people that are not even awake before 9:30 in the morning and they like having the flexibility to come in at 10 and leave around 7. Providing flexible hours also increases productivity because people can work the hours that they know will ensure their best performance. Amadeus Consulting also provides the flexibility to work from home. Surprisingly, most of my co-workers choose to come into the office, feeling like they are able to accomplish more than if they were home. When you give employees options, they feel like their company respects them enough to know they will make the choices that return the most productivity.
Another great perk? Waffles with bacon! If you work for Alert Logic, you get a monthly waffle bar with mix-ins and toppings. The company sets up waffle irons and officers man the line, making waffles for about 150 employees. This is an example of a perk that does not cost a lot and gives employees time to mingle.
Some other top perks for a company to consider include: weekly or bi-weekly catered lunches, babysitting services, pet services, stipends for home cleaning, stipends for entertainment (discount movie tickets, sport tickets and concert tickets), and gym stipends. These options do cost a company money, but just giving a small stipend shows employees that their company cares and makes the employees feel like they get to save.
So perks still work, but the types of perks employees look for have changed a bit. In my next blog, I will take a look at what millennials really care about when making employment decisions, along with perks of course.