You may remember that an increased focus on staff rewards appeared in our 2018 recruitment predictions – and it’s made the national news multiple times since!
We’ve already discussed how important it is for businesses to promote their work perk offering. The UK skills shortage certainly makes it all the more vital for employers to hone their staff attraction strategies.
In addition, we’ve compared the most sought-after (non-monetary!) benefits against those that employees are currently receiving.
Realistic staff rewards…
1) Increased annual leave
The article references the growing trend towards unlimited holiday offerings. (When we say growing, HR News recently reported on this and state that 9% of global businesses are using such an incentive. So, it’s right at the emerging sense of the word).
However, as they suggest, few SMEs will feel able to factor this into their benefits package. Yet they are far more likely to be able to offer an additional day or two of leave. Whether that’s as thanks for another year’s service, a well done for hitting a particular target, or appreciation of efforts made.
Let’s not forget that this perk also came number one on the most desired of all non-monetary benefits.
2) Healthcare packages
Private healthcare is a reassuring bonus for single workers and those with families alike. It is also said to benefit businesses, by helping to minimise absenteeism.
3) Fitness incentives
Our city’s offices aren’t all set up for on-site gyms (however lovely they may sound!), yet budgets can often extend to a monthly gym membership or similar. CIPHR has an excellent article on why this is so worthwhile for employers.
4) Free food!
This suggestion often crops up in the news, as we all appreciate the easy availability of some fresh food and drinks on a busy working day. There are a variety of companies that offer fresh fruit and snack boxes throughout the area… Google ‘Office fruit bowls Bath’ and you’ll soon see!
5) Flexible working opportunities
When we said increased annual leave came top of the work perk wish-list, the number one spot was also shared by sabbaticals and flexible working hours.
This is an element that is widely considered to enhance staff attraction and retention while increasing employee happiness.
6) Home working opportunities
The HR Review piece suggests this can help ‘break the monotony of the working week and increase levels of productivity‘. It can be healthy to get a change of scenery from time to time. Plus, this is about as realistic as staff rewards come, as it shouldn’t cost the company anything if work is still being completed.
7) Letting the weekend start early
Research suggests Friday afternoons are the least productive time of the working week, so it’s surely the best day to allow employees to finish work an hour or so sooner. If this wouldn’t work for all staff on a weekly basis, you could experiment with a fortnightly or monthly incentive. Or perhaps a rota for early finishes in micro businesses.
8) Team outings
Featured suggestions include regular staff drinks or meals or even trips further afield. Simply offering employees the chance to let their hair down and interact outside of the standard business setting.
9) Staff training
We know ongoing training is imperative for the success of businesses as we look to the future world of work. Offering individual training budgets is also an excellent way to show appreciation for your staff – and express a continued interest in their personal development and future with your company. Tailoring training to individual needs takes this a big step further.