Salary and a pay rise are widely known to be a short-term motivator. When the increase is received it is soon forgotten as employees look for the next thing. So what will grab someone’s attention and lift their motivation?
‘Quirky’ perks can make all the difference, but aren’t a new thing. They are simply rewards that don’t form part of a standard set of terms and conditions such as pension, days holiday and sick pay that are on offer to most.
The best of the best
Making an organisation stand out and be attractive to potential employees and to retain top performers, takes a little more thinking outside of the box. Traditionally different rewards have been offered as part of the motivation for sales people, with bonuses not just covering cash but being offered in the form of holidays, theatre tickets, a meal in a top restaurant with a loved one, all put on offer for performing above and beyond colleagues. The competition of such, adding to the motivation for those striving to be the best.
A different perspective
A different perspective came several years ago with some organisations providing flexibility to employees on how they wanted their employment package to be built up. Flexibility to forgo a percentage of salary in order to increase things such as pension payments or the number of days holidays, became an expectation. So how have things moved on?
We spend a lot of time in work and look to get the right balance with our personal lives and finances. People generally want a rewarding experience in the work place, to be recognised for a job well done and to be personally developed so they can progress in their careers. With ‘the manager’ being one of the top reasons for people leaving organisations, the perks offered together with the total remuneration and benefits package, are what can help retain people.
Not all people are motivated by the same rewards. When we are at different stages of our lives, we want different things. For young people, holidays are said to be more important than putting extra contribution in to a pension pot. For parents, having flexible hours during school holidays might top the list. For some, having the flexibility for time off to pursue hobbies will be key.
Whatever the offer, employers have recognised that the key to keeping and motivating employees to perform at their best is to provide perks and a working environment that keep them ahead of the competition.
What’s on offer?
Perks now come in a range of offerings and include discounts at certain shops; cinema tickets, food takeaways and childcare vouchers. Some companies offer extra time off for Christmas shopping or a day off for your birthday, while others provide every Friday afternoon off during the summer months.
And it doesn’t stop there. In the wellbeing arena things have progressed from discounted gym membership and cycle to work schemes, through to discounts at health spas and dental care, right through to on site gyms, massage and health and wellbeing assessments.
All of these perks cost an organisation money. When an organisation taps into the psychological contract with it’s employees however, the boost in motivation naturally sees a boost in productivity, so the benefit of providing the perks far outweigh the cost.
And if it makes staff happy and is good for the bottom line, what is there not to love!