Perks of the Job
29th June 2021
In an age where attracting top talent relies on the right fit for the candidate as well as the employer, it’s not just about the money. Additional benefits are often instrumental in persuading a high calibre individual to switch companies.
Linea carried out a small survey of Welsh-based manufacturers. The survey was prompted by a discussion with a client that wanted to benchmark the approach to flexible working against those of other similar businesses. We offered to help and spoke to similar businesses in the same sector. We found a very varied mixture of working arrangements- some very flexible and others very rigid working schedules. Generally speaking, manufacturers had rigid schedules for Production/ Engineering shift workers, but office-based engineering and commercial staff often had more flexible schemes available to them.
The survey prompted a discussion with colleagues about benefits in a wider context. We decided to make a list of the ones we had come across when recruiting across the sectors. Here they are:
- Flexible working hours (though this was harder to achieve with shift workers)
- Home/ remote working (where/when possible- many manufacturing roles cannot be performed remotely but administrative staff are often able to take advantage of this benefit)
- Birthdays off
- “Duvet” Days: Don’t feel up to work today? Take a day’s annual leave at short notice. But be aware that you’re usually limited to a small number per year.
- Christmas shopping day off
- Friday afternoon early finish (compensated for time-wise in the rest of the week)
- Car parking
- Gym memberships paid or onsite fitness facilities
- Free lunch in work
- Free coffee & tea
- Christmas party / Office days out / Company sponsored trips
- Time out of the office to undertake charitable work
- Professional membership fees paid for by company
- Staff discount
- Company share schemes
- Fresh fruit
- Company sponsored training/ courses / Professional development
Survey respondents frequently mentioned ROI (return on investment). Anecdotally, it was felt that the business benefits provided by offering staff benefits are: a more competitive recruitment process, higher staff performance and stronger employee retention. These areas will typically have KPIs (key performance indicators) attached to them, but when looking at the effectiveness and impact of soft benefits- more qualitative forms of analysis like staff surveys and exit interviews, can be used.
Align Perks with your Company Values & Culture
On the wider scene, Google is famous for offering its employees free food. And many advertising agencies boast games rooms, bars and pool halls. But it’s important to keep your benefits aligned with your company values. Companies that have alternative or progressive values attract the best type of that talent by offering unusual benefits like the examples above.
But more traditional businesses may prefer to use soft benefits that are more closely aligned with their brand values to attract the talent that those benefits will appeal to. Companies with a “wellness culture” may prefer to offer free gym membership, showers/later starts for cyclists and neck massages for call centre staff, for example. Different things motivate different types of people.
One thing remains a constant, though: To recruit, motivate and retain top talent, you need to look beyond obvious financial rewards. Company culture, working environment as well as benefits are all factors to consider when looking for individuals who may have a choice of offers or already be employed.
Click below for an interesting selection of benefits used by top companies compiled by The Independent and published March 18th 2016. Until next time, thanks for reading and please remember us when you are recruiting for mid to senior level positions.