Would you apply for a job based just on the benefits package?
While hiring a leadership role for an established online business, I found the job came with a highly desirable salary but a negligible benefits package. When queried, I discovered they wanted to enable their chosen hire to personalise their own benefits package. If they want to spend money on healthcare, car(s), subscriptions, memberships or other perks they can, or if they prefer, they could keep surplus money as cash.
This prompted me to consider today’s benefits packages.
According to Glassdoor, more than one-third of employees admit perks and benefits are amongst their top considerations before accepting a new job.
What do companies offer? How are these benefits perceived and are they appreciated? How do companies decide what to offer? And have we now gone full circle where there is so much a company can offer an individual that it’s easier to just give them money and let folks choose for themselves?
In the UK we saw pensions become mandatory to all permanent jobs in 2012. In the past, a pension was seen as a luxury benefit but, from recent conversations with the latest wave of digital marketing job seekers, I’ve found that pensions aren’t even on their radar! *horrified gasp*
How motivated are we by enhanced benefits packages? Do we accept a job because of them? Do employees stay with a company longer because the benefits are so entwined in our lives, we can’t live without them? Do companies even know what benefits are attractive to their workforce? Do they need to personalise or is it one size fits all? Has the McDonaldization of society taken us so far we can’t recognise the value of longer-term benefits?
From a traditional job offer with a basic salary, pension and company bonus to such a huge spectrum of benefits. These are just some ‘modern’ benefits that our audience values:
- Flexible Working
- Remote working options
- Early Friday finishes
- Enhanced maternity and paternity packages
- Paw-ternity Leave
- #2nd2nd…office closes 2nd Fri of 2nd month every quarter for an extra day of rest
- A one-off additional 4 weeks of holiday after 5 years of service/sabbatical
- Birthdays off
- Babalaas Day – Similar to what is also known as Duvet Day
- Unlimited holiday
- Guitars in the Office
- Office PlayStation
- Foosball table
- Indoor swings
- Office dogs
- Free food- doughnuts, pizza, breakfast
- Indoor trees
- Free quality Coffee
- Netflix subscription
- Quarterly kindle subscription
- Magazine subscription
- Training allowances
- Health insurance
- Worker ownership and profit sharing
- Expenses for remote workers for either co-working space or coffee allowance
- Mental health support
I observed several distinct clusterings of ‘time off work’ benefits which improve the work environment and benefits which the employees’ pocket directly gains from. Interestingly, not one person mentioned pensions, but who would when you get pizza and Netflix!
This research was not scientific. Just from a conversation, I found interesting with clockworkTalent’s digital marketing audience. If you want to add to the list of appreciated and enticing benefits from your employer, tweet me!
Dear Employers – Benefits can be a great way to entice new staff into your business but ultimately, it’s the job and company culture that will keep them, so avoid focusing all of your attention on perks, your employees need more than pizza on Fridays.