...Not all companies can be Google or Apple. However, they can take notes from their employee benefits strategy to make their in-office workforce feel valued and appreciated. All of these perks save the employee time. They don’t need to stop for breakfast and coffee on their way to work. They don’t need to leave the office early to pick up their dry cleaning or sneak out early on a Friday to their car washed before the weekend. These may seem like minuscule items on an everyday to-do list, but companies that provide such perks realize the bigger trend: buying-time makes people happier. So much so that 4 out of 5 employees prefer benefits or perks over a pay raise.
4 out of 5 employees prefer time saving perks over a pay raise
“Companies are in hand-to-hand combat for top talent,” said Scot Wingo, thought leader in the on-demand economy and founder of Spiffy. “The employers that consistently win the best place to work awards show their employees they are strategic by providing them with benefits that not only cover the basics like health insurance but makes their lives easier. This strategy not only helps with recruiting but also retention. So much so that recent psychological studies have proven that people get more enjoyment out of tasks being performed for them (“buying time”) vs. receiving ‘things’ which validates a benefits strategy that includes services in addition to cash/ownership, etc.
“Employees and candidates have the upper hand now, so culture is everything! Building a strong culture where people want to work is the key to employee retention,” says Cara Silletto of Crescendo Strategies, national speaker, author, and consultant on company culture.
One of the best ways to implement such amenities in the office is to cater to already ingrained employee habits. “In today’s world, people are very busy, multitasking and have literally thousands of different things competing for their attention,” explains Wingo. “The average person picks up their phone 40-50 times a day, so we believe the best way to break through that noise and make the employee’s life easier is with an app-based solution. Today’s smartphone has become the remote control for your life, and your benefits strategy should be aligned with that, not fight it...”