In today’s job market, standard pay rises and the usual 25 days’ holidays just aren’t cutting it with some workers. Businesses are increasingly finding that they need to offer something extra to attract those hardworking, innovative new staff, while retaining their current team members, perhaps at a time when salaries are frozen.
To find out what Brits feel about free work perks and to get the most out of your staff, read our guide today.
Why do companies give work perks?
Employees tend to work harder if they feel like they are appreciated, so work perks are often made explicit in job descriptions in a bid to attract more applicants. Companies give work perks to show appreciation for their staff, and increase productivity by rousing some healthy competition and boost morale.
How many workplaces currently offer work perks?
Bonuses, such as concert tickets or free drinks have become increasingly popular over the years, which explains why 55% of UK workplaces now offer work perks.
Looking into this new trend, Printerland.co.uk commissioned a UK-wide survey to explore Brits’ attitude towards employment benefits, asking 2,000 workers about the kind of work perks they already receive.
The research revealed that the most common perks offered are flexitime (51%), financial bonuses (50%), free food (32%), gadgets such as company phones and tablets (21%) and company cars (11%).
Surprisingly, a quarter of Brits said they would accept a lower salary in return for better incentives, which shows the importance of offering your staff additional perks.
What can you offer as a free work perk?
Free work perks can include financial incentives like vouchers, cash or bonuses. Alternatively, businesses could offer include extra holidays, time in lieu, travel expenses, days trips out and free food.
The top desired freebies, according to the nationwide survey, were Netflix subscriptions and event tickets (42%), followed by free trips (37%), shopping discounts (35%), gym memberships (28%) and on-site facilities such as a gym or a crèche (25%).
How people react to getting incentives at work
Staff can react both positively and negatively to receiving incentives at work.
Work perks can be viewed positively in a sales environment as they encourage a healthy competition between staff, thereby boosting morale as well as productivity. But people have claimed that they don’t want the cost of additional benefits catching up with them in other areas.
However, perks need to fit in with the company’s objectives. If they have to offer more and more perks because the business is not an attractive place to work, it becomes detrimental to the company – and thereby, is not a solution.
What can you do to offer your employees additional benefits?
While it would be great if all companies could financially afford to give their employees work perks, this isn’t always the case.
Talk to employees about implementing benefits that support their main concerns. If you do that, you will keep moral high and attract the right people. Remember, free work perks may give you the edge over your competitors when it comes to hiring extra staff.