Perks definedEmployee benefits and perks are a non-wage supplement to salaries and include, among other things:
- Lifestyle/entertainment perks, such as Netflix/Spotify subscriptions, free coffee and snacks at work, or employee discounts.
- Continuing education perks, such as tuition reimbursement, student loan repayment, or financial support for receiving professional certifications.
- Health and fitness benefits, such as gym membership reimbursements, on-site fitness facilities or nutrition classes.
- Workplace flexibility perks, such as flexible hours, commuter benefits or the ability to work remotely on a regular basis.
- Family-focused/childcare perks, such as daycare reimbursement or paid family leave.
What is the overall best way to improve employee morale?
- Higher base salary (37% of respondents)
- More workplace perks (22%)
- Performance-based raises (21%)
- Recognition from supervisors (9%)
- Team-building initiatives (4%)
- Requesting employee feedback (4%)
- Spontaneous holidays (2%)
- Flexible hours (40% of respondents)
- Paid health insurance premiums (34%)
- Paid family leave (29%)
- Regular remote work (26%)
- Financial assistance with professional certifications (26%)
- Employee discounts (43% of respondents)
- Free coffee and snacks (42%)
- Streaming-TV subscriptions (42%)
- Gym membership reimbursement (35%)
- Onsite fitness classes (30%)
- Company car, laptop or phone (30%)
The takeawayIf you are considering expanding your perks and benefits, to attract or retain staff or motivate workers, don’t forget the following before deciding:
- Four out of five employees feel that workplace flexibility options are the most important employee perk category.
- Perks that employees say are “must have” include flexible hours, paid insurance premiums, and paid family leave.
- Because the Staples survey found that half of employees prefer higher salaries while the other half wants more perks, consider polling your workers before making a change.
- 62% of employees would accept a lower salary in exchange for better workplace perks.