n today’s hiring market, where competitiveness and change are always around the corner, benefits and perks beyond salary are essential for a company to recruit and motivate its people. More than ever, the workers look for other variables, besides their regular wage, to decide between staying or changing their job.
And here is where these corporate solutions come into play. Benefits and perks are a huge part of this “emotional salary” that develops general satisfaction among employees and, consequently, inside the HR Department, which is responsible for managing the human capital of the organisation.
Compensation as a source of productivity among teams
More than going through the recruitment of new team members, HR Managers have a very important daily task at hand: to guarantee the satisfaction, motivation, and loyalty of the people that make up the company.
In fact, the most valuable resources an organisation has are its human resources who thrive on a daily basis for the project they embrace. Thus, it is fundamental to create a culture of appreciation inside the company. After all, happy employees mean higher productivity and creativity and less turnover.
And is this not what every HR department seeks the most – a stable, happy, and productive team, where “satisfaction” is the watchword? Creating a positive environment where the top talents really want to work is not always easy, but we have created a list of some good examples of benefits and perks that will help your HR Manager on this task.
The main benefits and perks that will keep employees engaged.
1. Generous vacation and PTO policies
Do you know that “friyay” feeling? Or that positive pre-vacation mood? Now imagine your team having these happy feelings every day. A generous vacation map, with extra PTO (Paid Time Off) for special or specific moments (such as medical appointments, birthdays, or your child’s school party) is one of the most important factors for motivation at work. This way, companies show their respect and attention to one’s work-life balance.
2. Flexible and adaptable compensation
Another of the benefits and perks that employees value the most is the flexible compensation, where each person can choose where they want to spend it. If some people want to pay for meals or groceries with this extra budget, some choose to use it on health and wellness products, on their children's school expenses, or on their gym fee. Without fixed allowances that often do not fit with the real needs of each person, this is the path to ensure a benefits system adaptable to all team members.
3. Employee discounts
From new gadgets to pharmacies, restaurants, or at the local gym. Who doesn't love to receive exclusive discounts on brands, goods, or services from outside partner companies just by working for their company? Receiving membership discounts on several stores or companies for the exclusivity of working in a particular organization is also an excellent way to engage employees, developing brand loyalty. And who do you think also appreciates this simple but effective gesture? The Human Resources department, of course!
4. Health Insurance for you and your family
If there is a perk that people value when looking for a job it certainly is a comprehensive and high-quality Health Insurance that protects them and their family's needs in case of illness or accident. Giving that we all have unexpected issues, every now and then, knowing that at any time the company you work for offers employer-sponsored health insurance that covers expenses for medical care, appointments, or hospitalization, you get another reason to smile, right?
In fact, a generous benefits and perks package is essential to attract, motivate and retain talent – which is one of the biggest challenges any HR specialist faces. On the other hand, these compensations are the least expensive option to an organisation, but the most highly visible thing to people. Free of SS and/or IRS, but full of satisfaction and well-being. Could there be a better combination of benefits for a company, HR, and employees?
