Top 5 employee benefits your employees really want
Most companies want to give their employees benefits that matter but often they miss the mark. So it's crucial to figure out the benefits your employees really want to ensure happy employees and a productive workforce.
Let's quickly recap on why employee benefits are so important. Top employee benefits will:
How do you decide what benefits and perks to provide your employees with? Company benefits are an expensive part of your EVP and if you miss the mark, not only are you wasting money but you’re giving nothing of “value” (perceived or otherwise) back to your employees.
Management usually start with good intentions, whipping round departments, gathering feedback here and there but the final decision is often made without employees being consulted. It can create a feedback loop that, at best, results in no one using their employees benefits and at worst leads to widespread disengagement.
What do employees want then? Perkbox research scored the top 50 employee benefits - here are the top 5!
In descending order:
Coming in at number 5, The Great Perk Search revealed that discounts on holidays, flights, hotels, and supermarkets - were among the most favoured work-based perks.
It seems that employees really do value perks that make their pay cheques stretch further so they are a worthwhile investment for any employer.
4. Birthdays off
This perk, which has close links with the likes of tech savvy companies, was particularly favoured by younger cohorts in our Great Perk Search survey. Cheap and easy to implement, this perk should be a no-brainer for companies looking to engage their staff.
3. Games tables and activities
Ping pong tables, pool tables, video games etc. are easy to implement, and are low cost and high reward. It costs less than taking everyone out for a drink and who knows, you might find it a great way to relieve stress yourself!
2. Team sports
Wine-lunches or company nights out have been surpassed with the desire to have office-wide sports teams. Netball, Oztag and touch footy leagues are now seen as a desirable facet of a workplace's culture.
1. The top employee benefit: Extracurricular activities
Leading the way was extracurricular activities! At first, this seems a little surprising (it ranks higher than a free lunch??) but take a moment and think back to school, or university. As soon as you enter the workplace, access to book clubs, sports teams etc. vanish without a trace. So running activities such as gaming groups, pottery classes, yoga or knitting sessions (whatever floats their boat) could score you big points with your employees.
These are just a few of the “hottest perks” that were revealed in the Great Perk Search. What employees seem to value are perks that encourage social interactions, and affords them a great work-life balance - and the Perkbox platform can help bridge that gap.