You know the saying – a raise is only a raise until the next pay cheque, then it just becomes your pay. Many employers are expanding their overall value proposition to the employee by including non-cash perks and benefits. This is a great way to enhance your ability to attract and retain for many reasons including:
- You are unable to provide a cash compensation package that is above market
- It allows you to set yourself ahead of the competition
- Aids in retention
So what should you consider as part of your overall benefit and employment culture? Think about integrating some of these perks, where able. Of course many of these benefits rely on having a trustworthy employee who won’t take advantage of the flexibility.
- Flexible work schedule
- Ability to work from home occasionally and without needing a “good reason”
- Allowing employees to take “x” number of hours per year to volunteer their time to charities
- Employee discounts – it’s pretty standard to give a discount on your own product but what if you partnered up with a like-minded brewery to offer reciprocal discounts?
- Development programs – provide in-house training with a set schedule to show the employee they will receive constant development
- Autonomy and a sense of control over their work
And, of course, these also motivate and retain employees:
- Recognition for a job well done
- Challenging work
- Being part of a great team
- Having a fair and personable boss as well as inspirational leadership
- Enjoyable work environment
- Job security
Integrating these non-cash perks/benefits into your work environment, along with the cultural items mentioned above, can help you to continue to be an employer of choice.
Post by: Lynn McIlwee