Abraham Maslow is an American psychologist who is most famous for his theory known as the hierarchy of needs. Maslow’s hierarchy of needs suggests that there is an order to human needs and we can’t seek out certain needs until others are fulfilled. For example, we need food, water and shelter before we can care much about self-esteem or socializing.
When it comes to work, it’s no different. We have to pay our bills before we can focus on benefits or the type of work we’re doing. Now that the Great Recession has come an end, top talent job seekers are no longer worried about paying the bills and are now moving up the hierarchy of needs, looking for bigger and better things. They’re looking for better salaries, better work hours, a better work environment and work they can be proud of doing.
Managers can’t pay employees more than what the job is worth. If you pay an employee $50,0000 a year for a job that produces $40,000 worth of benefit for the company, you’re losing $10,000 a year. That’s just math. There are still other perks and benefits you can offer employees to make a job more appetizing without overpaying them for their work. In this article we hope to explore some of the best employee perks that one can offer prospective employees as well as further explain how these perks will help you attract top-tier talent.
Perks That Attract Good Employees
There are many perks that an employer can offer to potential employees in order to entice them to join the company. The best employee perks either do not cost the company very much to provide or they benefit the whole company and spread the cost.
Here’s a list of some potential perks to offer employees:
- Education opportunities
- Flexible work hours
- Better insurance
- Cross training within the company
- Paternal leave
- Gym memberships
- Travel subsidies
- Discounts on products or services
- Outdoor passes
- Paid volunteer time off
- Birthdays off
- Book Club
- Child Care subsidies
Why Perks Are Good For Employers
57 percent of employees said that benefits and perks matter to them. More specifically, 57 percent said that finding great benefits and perks are top deciding factors when it comes to job searching. Workers now place nearly as much emphasis on lifestyle as they do work. Most employees are really looking to achieve that perfect work-life balance.
Many employees are looking to work so they can live their lives. They work to live but don’t necessarily live to work. If you are an employer and looking to attract the best employees possible to come and work for you, it’s important to provide them with perks and benefits that will help them take control of their own lives as well as stay excited about work when they’re in the office. This can be a hard balance to strike but it is possible. Many businesses have learned to do it after all.
The best employee perks are those that do one of three things. First, they supplement a salary with other benefits. Second, they help make work easier, or more comfortable for the employee. Third, they help you invest in your employee’s career. Employees recognize these perks for what they are and, in today’s economy where jobs are more available and job seekers can be more selective, perks like these will help employers attract the best talent on the market to their company.
When there are good employee perks the employee and employer both win. Employee engagement rises, work quality improves and results follow. The company gets more revenue which it can reinvest into it’s employees for even better engagement.
This is why offering your potential workers the best employee perks possible is so important.