The salary you offer your employees is just one of the ways you pay them for their time, commitment, and efforts. Perks are the second. Perks come in many different forms, but overall they’re anything non-salaried that exists to improve the workplace culture and experience of your employees.
Why Are Perks Important?
Perks, more professionally known as employee value propositions, are key elements to improving the overall employee experience. If you aren’t actively working to improve the EVPs or perks by constantly adjusting what you offer, then you’re wasting your money. EVPs are best when they actively benefit your employees and offer them something they want. A gym membership may sound great on paper, but if most of your employees don’t regularly go to the gym, it’s a huge amount of money going down the drain.
You can and should let employees vote on what perks they want. You can mix it up every few years as well so that your offerings reflect what people really want and need. In 2023, for example, here are just a few of the top EVPs that employees desperately want their employers to offer:
1. Family Benefits
For many workers, one of the biggest challenges of balancing work and family is finding affordable and reliable childcare. That’s why offering subsidized childcare or onsite childcare, like Patagonia, is becoming an increasingly popular perk. Not only does it help parents save money on childcare costs, but it also helps reduce the stress and logistical challenges associated with finding and coordinating childcare.
Onsite childcare facilities, in particular, have proven to be a game-changer for companies like Patagonia, which have seen reduced staff turnover, increased productivity, and improved morale among employees who are able to bring their children to work with them. By providing this perk, employers can not only attract and retain top talent but also demonstrate their commitment to supporting their employees’ family lives.
2. At-Home Support
Another perk that workers are increasingly looking for is support for their home lives. With the line between work and home becoming increasingly blurred, many workers may struggle to find the time to manage their household while working. This is where benefits like subsidized home cleaning or laundry services come in.
By offering these benefits, employers can help their employees keep their homes in top condition, reducing stress and freeing up more time for work and family activities. As these benefits are often relatively low-cost, they can be an easy and effective way to improve employee morale and job satisfaction.
3. Mental Health Benefits
Mental health is another area where workers are looking for support from their employers. The pandemic has only highlighted the importance of mental health and wellbeing, and employees are increasingly expecting their employers to prioritize this aspect of their overall health.
Adding mental health to your healthcare policy and benefits can be a powerful way to support your employees’ wellbeing. This might include offering access to counseling or therapy services, mindfulness training, or other mental health resources. By providing these benefits, employers can not only improve their employees’ overall wellbeing but also create a more positive and supportive work environment.
4. Be Flexible
Finally, perhaps the most important perk that workers are looking for in 2023 is flexibility. With remote work becoming more common and workers placing a greater value on their work-life balance, many employees are looking for employers who are willing to be flexible about when and where they work.
This might mean shifting to a tasks-based management style instead of a time-based one, allowing employees to work when, where, and even how they’re most productive. Someone may work better, for example, starting at 11am and finishing at 7pm. So long as the work that they do is primarily on their own, this can be easy enough to accommodate. Similarly, if workers get their work in by the deadline, then it simply doesn’t matter when they work.
Being flexible can also mean offering more flexible scheduling options, such as part-time or job-sharing positions, or even giving employees the option to work from home regularly or on short notice. If they, or their kids, for example, are slightly sick and can’t go in, your employee can still work without taking a sick day.
By being flexible and accommodating to their employees’ needs, employers can create a more positive and productive work environment. This can lead to higher job satisfaction, better retention rates, and a stronger employer brand that attracts top talent.