In today’s article, we’re going to uncover a little secret about workplace motivation that goes beyond the lure of dollar bills. You see, while money can certainly bring a smile to our faces, it's not the sole ingredient to keeping our exceptional employees motivated.
Nope, they're looking for a smorgasbord of perks, benefits and recognition that cater to their unique tastes. Think health insurance for peace of mind and free food in the office to fuel their productivity (and rumbling tummies).
As the architects of employee satisfaction, it's up to HR officers to curate a delightful menu of incentives that hit the spot for each individual.
So, let's embark on this adventure together, dear HR wizards, and create a workplace where motivation flows like a bubbling fountain. Trust us, with the right mix of benefits and perks, you’ll have the employees singing our praises and achieving new heights of success.
What are employee benefits?
Employee benefits are additional perks or advantages that employers provide to their employees beyond their regular salary or wages. These benefits are designed to enhance the overall compensation package and improve the overall well-being of employees.
While some benefits are available for all employees at a company, it’s important to note that some are negotiated between employee and company before they begin working. Before this becomes confusing, let’s look at the two main ways benefits are granted to employees;
Legally required benefits
Legally required benefits, like that "no shirt, no shoes, no service" policy, are the bare necessities. They're the benefits that the country where you work insists on, so you better pay attention. Think of them as the boring-but-necessary rules that keep society running smoothly.
An example of this would be the UK’s 28 days off a year policy. Most workers who work a 5-day week must receive at least 28 days' paid annual leave a year. If the company cannot provide this, they are breaking the law and could be fined.
Discretionary benefits
Discretionary benefits, on the other hand, are like sprinkles on a cupcake or an extra shot of espresso in your morning latte. They're the goodies your company showers you with to make you feel warm and fuzzy inside.
An example of a discretionary benefit would be extra percentages on a sales commission in a sales job. Let’s say the sales commission is 5%, they may opt to give you 8%. The company didn’t have to do it, but they wanted to make you happy and feel valued.
So, in a nutshell: legally required benefits are the baseline, the "must-haves," while discretionary benefits are the cherry on top, the "nice-to-haves." And if you're lucky enough to work for a company that goes above and beyond with discretionary benefits, well, you've hit the benefits jackpot, my friend. Enjoy those extra sprinkles!
Why should companies use them?
So, we briefly touched on the why’s of employee benefits earlier, but there are a plethora of positives in using them. Let’s take a closer look;
Attracting and retaining top talent
Dazzle the hiring scene by offering employee benefits that make the competition drool. A comprehensive package that leaves rivals in the dust will have skilled individuals clamoring to work for your company. And the best part? Once you've snagged them, they'll stick around for the long haul.
Employee satisfaction and loyalty
Show your employees some love with benefits that scream, "We've got your back!" By treating your workforce to attractive perks, you'll prove that you're not just another faceless corporation. This, in turn, will fill their hearts with joy and a burning desire to conquer the world (or at least their tasks). The result? A highly motivated, satisfied bunch that will stick with you through thick and thin.
Improved recruitment and retention
Become the talk of the town with your fabulous employee benefits. Satisfied employees make the best ambassadors, and they'll be singing your praises far and wide. As their cheers of joy echo through the grapevine, you'll have potential candidates lining up at your door. Oh, and did we mention that your current employees will be too smitten to consider jumping ship? Say goodbye to those pesky turnover costs.
Enhanced employee morale and engagement
Boost morale and watch your employees soar to new heights of job satisfaction. Give them benefits that make their hearts skip a beat, like healthcare coverage, retirement plans, and the flexibility to rock work-life balance. With their spirits soaring, they'll be more engaged, productive, and ready to take on the world. Go team!
Increased productivity and performance
Employee benefits aren't just a fancy perk—they're productivity powerhouses. Provide healthcare and work-life balance initiatives, and watch your workforce transform into a lean, mean productivity machine. When they're healthy and feeling the love, they'll crush their responsibilities like champions.
Cost savings on healthcare and absenteeism
Healthy employees, healthy bottom line. With benefits like health insurance and wellness programs, you'll keep your workforce in tip-top shape. The result? Fewer visits to the doctor and lower healthcare costs for everyone. And when you throw in incentive travel and other work-life balance goodies, you'll witness a magical disappearance of absenteeism. It's a win-win situation for both you and your employees.
Competitive advantage in the market
Stand out from the crowd with employee benefits that make your rivals green with envy. In high-demand industries, it's all about attracting the cream of the crop. With your irresistible benefits package, you'll shine like a beacon of awesomeness, making other companies look like yesterday's news. Top talent won't be able to resist your siren call.
Positive company culture and employee satisfaction
Create a workplace where unicorns prance and rainbows abound. Well, maybe not quite like that but a robust benefits package builds a company culture that's all about happiness and satisfaction. When employees know they're valued and supported, magic happens. Collaboration, teamwork, and a sense of belonging become the norm, transforming your office into a utopia of awesomeness.
So now that we know what the advantages are of employee benefits, let’s take a closer look at the different types that are available and commonly used.
What are the different types of employee benefits?
Benefits at work
Work benefits are desirable because they provide essential support and perks that enhance our overall well-being. Let’s take a closer look at some of these benefits
Working hours and time off
Who wants a team full of employees who are too scared to ask for time off for the important things in life. Or a team that would rather lie and sneak around with excuses due to the harsh absentee policies? No-one!
Example: Your star employee, let's call him Tim, has a sudden burst of creativity at 2 a.m. Instead of losing that genius idea to sleep, he can log on later and work from the comfort of his bed. Plus, when Tim's grandma's birthday rolls around, he can take the day off to surprise her with a homemade cake. Happy employees are productive employees, and the freedom to work when it suits them and enjoy well-deserved breaks keeps motivation high.
Skills development
Investing in your employees' growth is like fertilizing a garden. By providing opportunities for skill development, such as workshops, courses, or conferences, you'll see your team bloom into industry superstars.
Example: Jenny attends a marketing seminar and learns the latest social media hacks. She then applies this newfound knowledge to your company's campaign, resulting in an explosion of likes, shares, and new customers. A win-win situation, wouldn't you say?
Food and beverages
Want to satisfy your employees' appetites and win their hearts? Offer free snacks and drinks! It’s sure to work, no-one ever turns it down.
Example: Sarah, your talented graphic designer, is engrossed in creating a masterpiece. But alas, her stomach growls, distracting her from her creative genius. Suddenly, she spots a well-stocked pantry, packed with delicious snacks and energizing drinks. Sarah can refuel quickly and get back to designing mind-blowing visuals. Not only does this keep productivity high, but it also fosters a sense of appreciation and camaraderie.
Gifts and activities
Who doesn't love surprises and fun? By organizing team-building activities and occasionally surprising your staff with gifts, you create a positive and engaging work environment.
Example: Let's say it's a gloomy Monday, and your team is feeling a bit… blah. You swoop in with an impromptu pizza party, complete with silly games and prizes. Suddenly, spirits are lifted, laughter fills the air, and productivity soars. Such perks remind everyone that work can also be a blast.
Benefits for health
If the employees are expected to spend 8+ hours in the office every weekday, surely the company needs to be responsible for their health? If you’re seeing certain employees more than their own family, it’s time to make sure they’re healthy.
Healthcare for the employee
Taking care of your employees' well-being not only keeps them in tip-top shape but also sends the message that you're a caring and considerate boss.
Example: Rachel, your star salesperson, wakes up feeling a bit under the weather. Instead of dragging herself to work, infecting the whole office, and bringing down sales, she can visit the doctor hassle-free. With comprehensive healthcare coverage, Rachel gets the medical attention she needs, and before you know it, she's back in action, closing deals left and right.
Mental health care for employee
Mental health is like the invisible battlefield of the mind, where stress, anxiety, and burnout wage their sneaky wars. But fear not, wise HR officer, for you can be the shining knight in armor, equipped with mental health benefits. Supporting your employees' mental well-being is not only compassionate but also a strategic move.
Example: Lisa, your brilliant project manager, has been juggling deadlines, meetings, and a hundred emails a day. It's no wonder she feels like she's teetering on the edge of sanity.
With mental health benefits, Lisa can access counseling or therapy sessions to navigate her thoughts and emotions. She gains the tools to combat stress dragons and leads her team to victory.
Free gym memberships
Offering a free gym membership to your employees is like giving them the key to a fitness wonderland. A healthier workforce translates into lower healthcare costs for your company in the long run. By promoting fitness and well-being, you reduce the likelihood of chronic illnesses and absenteeism.
Example: Jim has had a tough week in the office. Mentally, he is below par. He takes up the company's free gym membership offer and is now able to boost mental clarity and reduce stress. It's like giving him a secret weapon against the perils of sedentary office life.
Benefits for financial security
Wouldn’t you rather the employees be focused on their job rather than obsessed with their financial life? If so, consider financial security options for the team. Here’s why;
Retirement and pension plans
Retirement and pension plans are like treasure chests buried in a financial paradise. Let's say that some of the team is 10 years away from retiring. Seems like a lifetime away, right? Well, they’re probably already planning their retirement. Give them an incentive to see out the remaining years with you.
Example: Imagine your esteemed employee, Arthur, reaching the age of glorious retirement. Thanks to a well-crafted plan, Sir Arthur can sip margaritas on a tropical beach while receiving a steady income. His years of dedication and hard work are rewarded with financial security, allowing him to enjoy the finer things in life without worrying about empty coffers. By offering retirement and pension plans, you become the architect of a prosperous future for your employees.
Insurances
Insurances provided a safetynet for your employees, protecting your employees from unexpected calamities.
Example: Gwen, your talented engineer, has a mishap and sprains her ankle while jousting (we don't ask questions about hobbies here). With comprehensive insurance coverage, Lady Gwen can seek medical treatment without worrying about draining her purse. This relieves her stress, allows her to heal, and ensures she can return to work with renewed vigor. By providing insurances, you become the shield that guards your employees against financial hardships.
Financial growth benefits
Ah, the sweet symphony of financial growth benefits, where your employees' bank accounts go from a humble lute to a booming orchestra.
Example: Reginald, your brilliant marketing guru, invests in the company's stock options. As the company thrives, so do his investments. The sweet sound of financial growth fills his ears as his wealth blossoms. By offering financial growth benefits such as stock options or profit-sharing plans, you become the conductor of an employee orchestra whose wealth and success are intricately linked with the company's prosperity.
Personal finance benefits
By offering personal finance benefits, you become the sage guiding your employees toward financial enlightenment.
Example: Let's envision Amelia, your talented accountant, receiving personal finance coaching as part of her benefits package. Armed with newfound knowledge, Lady Amelia conquers the dragon of debt, slays the budgeting monster, and emerges as a master of financial well-being. With your support, she achieves her financial goals, be it saving for a castle or embarking on daring adventures.
Lifestyle benefits
You can’t just expect the employees to live and breathe the company; they have a life too! Make that life a little easier with some desirable lifestyle benefits.
The opportunity for hybrid working
With hybrid working, employees can spread their wings and work from anywhere, as well as clocking in some hours at the office. It’s a win/win situation and keeps creative juices flowing in any setting.
Example: Oliver, your talented designer, gets struck by a bolt of inspiration while lounging in a cozy café. With the power of mobility, Sir Oliver can whip out his trusty laptop and bring his artistic vision to life, all while sipping a frothy cappuccino. By providing the flexibility of working remotely or setting up a comfortable office space, you empower your employees to unleash their creativity and productivity.
Work-life balance
Work-life balance is like the perfect tango, where your employees can gracefully maneuver between professional responsibilities and personal joys.
Example: Let's imagine Sophia, your dedicated project manager, who loves spending time with her family. With a healthy work-life balance, Lady Sophia can attend her child's school play without the guilt of looming deadlines. This allows her to recharge, nurture her relationships, and return to work with renewed energy and focus.
Employee discounts and perks
Imagine the team battling against a hard week’s work in the office. They’re tired, a little demotivated and can’t wait for the weekend. But wait, we have employee discounts and perks at this company! The team can indulge in whatever perk takes their fancy, from fashion discounts to a free slice of cake at the local cafe.
Example: Lady Penelope, your charismatic sales associate, receives a shiny employee card that grants her access to a world of discounts. With this magical card in hand, Lady Penelope can satisfy her love for fashion with exclusive discounts at high-end boutiques, making her the trendsetter of the office.
Offsite retreats
Offsite retreats are like a magical getaway for your hardworking team, whisking them away from the daily grind to a land of relaxation and rejuvenation.
Example: Your employees, clad in Hawaiian shirts and flip-flops, basking under the sun on a picturesque beach. They engage in team-building activities, swap office stories over fruity cocktails, and form bonds that will withstand even the fiercest Monday blues. Ah, the memories they'll create, like epic karaoke battles or attempting to build sandcastles with questionable architectural integrity.
When your employees escape the office walls and embark on shared adventures, they forge connections that transcend the confines of their cubicles. These bonds translate into improved collaboration, enhanced communication, and a unified team spirit that will have your competitors trembling in their tailored suits.
Offsite retreats also provide a much-needed breather from the daily grind. By stepping out of the office environment, your employees can recharge their batteries and return with a renewed sense of purpose and creativity. It's like pressing the reset button on their work-life balance, allowing them to return with a spring in their step and a gleam in their eyes.
So, make sure to consider offsite retreats as the secret weapon to unleash the full potential of your team. They're not just a well-deserved break, but a strategic investment in building a stronger, more connected workforce. After all, a team that plays together, slays together!
How can I plan office retreats when I don’t have the time?
Are you ready to take your employees on an unforgettable journey beyond the office walls? Picture this: a transformative offsite retreat that leaves your team inspired, rejuvenated, and ready to conquer new horizons. At Surf Office, we have a treasure trove of worldwide locations that cater to every desire and need.
Whether you're a city-based team yearning to escape the hustle and bustle of the concrete jungle or a fully remote team craving the soothing embrace of Vitamin Sea, our extensive list of offsite retreats has got you covered. Imagine whisking your team away to a stunning beachside villa, where turquoise waters and sun-kissed sand become the backdrop for brainstorming sessions that spark innovation. Or perhaps a mountain retreat nestled in nature's embrace, where panoramic views and crisp mountain air inspire strategic discussions and foster camaraderie.
By offering the perk of offsite retreats, you empower your employees to break free from routine.
So why wait? Contact us today and let us help you reinvent the traditional office benefits list.
