When it comes to employee satisfaction, offering benefits and perks at work is a great way to help bolster motivation and retention. In fact, employees shared that they are more likely to stay with their company because of their benefits program. If your company offers some of the more common benefits, such as health care and retirement planning, you may think that you’ve got it covered. However, if you aren’t aware by now, majority of employees would prefer more perks at work over a pay raise. Here are 3 perks and benefits that might just help boost employee satisfaction.
1. Organise Group/Team Building Activities
Group outings and team building activities outside of work is a perk that can help inspire motivation and retention in the workplace. This is because it helps to provide your employees with something to look forward to, while offering the opportunity to know one another better, deepening bonds. At Accenture and Facebook, employees have the option to join one of the numerous co-curricular clubs and societies (such as surfing & choir) that is meant to bring together like-minded co-workers to have fun together.
2. Flexible Work Options
Another benefit at work to help build employee loyalty and improve motivation? Flexible and remote work opportunities. According to Business Insider, Microsoft Japan reportedly witnessed a 40% increase in productivity during a 4-day work week experiment in 2019. Additionally, Netflix also found success with more flexible work arrangements. Some ideas of flexible work options you may consider include:
- Flexi-hours: This perk includes having to offer your employees the flexibility to come into office whenever they deem needed. It doesn’t matter how many hours your employees clock in in office. Instead, you should measure what people get done.
- Unlimited Paid-Time Off: This perk offers your employees unlimited leaves, instead of the regular 14 or 21 days annually.
- Extended Parental Leave: In Singapore, mothers are entitled to 16 weeks of maternity leave, while fathers are entitled to 2. However, the idea behind this perk it for new parents to spend more time taking care of their baby and themselves – which can range from 4 to 8 months.
This perk comes down to showing your team that you trust them to get their work done, regardless of their schedule and office location.
3. Bonus Time Off
Employee burnout can be a real concern for many businesses. Therefore, if this is a prominent issue surfacing in your company, offering your team additional time away from the office to recharge and prevent burnout may be a great option. Deloitte has already added this perk to their benefits! It includes:
- Personal Care Days: On top of having paid time off, entitled employees may take up to three personal and family care days each year.
- Sabbatical Programs: According to Glassdoor, Deloitte also offers an unpaid one-month sabbatical option and a sabbatical for personal or professional growth for up to six months with 40% pay.
American Express is also another company that offers additional time off, providing fathers paid paternity leaves for up to 5 months!