Keep your rock walls and quirky perks: Employees want actual benefits

We’ve all heard about amazing employee perks at certain tech companies. From beer taps to Botox, and pawternity leave to free acupuncture, over the last 20 years or so, companies have spent a lot of time (and money) creating impressive benefits packages to attract top talent — plus a few headlines too.

But since Covid-19, we’ve started to see a shift. Staff members are no longer looking for onsite laundry facilities or weekly massages. As remote working takes over the tech world, it’s getting harder for companies to placate their staff with, let’s face it, what can often be shallow perks.

After surviving a global pandemic, we’re not as impressed by things like nap pods or free exercise classes. In 2022, we want real, meaningful work benefits that improve our day-to-day lives rather than novelties that generate a bit of publicity.

So, without further ado, here are the top five benefits that employees want today. Do you agree?

A shorter work week

Conversations around a four-day work week are starting to gain traction. The premise is simple, employees get paid the same and have the same workload. However, they would reduce their working hours, giving them more time to spend with friends, family, or traveling.

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Companies that have implemented this perk are calling it a success. New Zealand-based company, Perpetual Guardian, conducted a trial study of a four-day work week. Not only did employees maintain the same productivity level, but they also showed improvements in job satisfaction, teamwork, work-life balance, and company loyalty. Employees also experienced less stress with a decrease from 45% to 38%.

The concept is gaining traction in Europe too. Earlier this month, Belgian employees won the right to perform a full work week in four days instead of the usual five without loss of salary. The UK will start a six-month trial (the largest of its kind) in June to study the impact of shorter working hours on businesses’ productivity and the wellbeing of their workers.

Companies that already have a four-day work week include Monograph, Feathr, and Headspace.

Unlimited time off

According to a study by Harvard Business Review, paid time off is a top priority for employees.
As part of the study, it gave 2,000 US workers a list of 17 benefits and asked them how heavily they would weigh the options when deciding between a high-paying job and a lower-paying job with more perks. More vacation time was an appealing perk for 80% of people.

In recent years, unlimited time off has been hotly debated. While some companies believe it’s an unnecessary perk and actually encourages employees to take less time off, other firms have had more success.

Offering unlimited time off can be a wonderful benefit but it does hinge on a company’s overall culture. Staff members need to have autonomy over their work schedule and feel like they are not only encouraged, but expected, to take ample vacation days.

Currently companies such as Netflix, LinkedIn, Visualsoft, and Evernote have unlimited time off policies. Will your company follow suit?

Career Development

If “The Great Resignation” has taught us anything, it’s that employees are always searching for the next big thing, whether that’s a new company, a new role, or a new career entirely. In fact, according to research commissioned by Slack, openness to searching for a new job has gone up every quarter since June last year.

The best way for employers to keep top performers is to keep them motivated and interested. We all want a job where we feel valued and challenged. We need to know that we are working towards something and that a promotion (or a raise) is within our reach at all times.

That’s why professional development and learning is one of the top benefits for employees today. Companies that offer study leave, tuition reimbursement, training courses, and regular, scheduled salary reviews with staff members are likely to come out on top. Companies that are leading the way in this field include Adobe, Deloitte, and Mastercard.

Monetary Bonuses

This perk might raise a few eyebrows, but hear us out. If you’re trying to come up with benefits to attract new employees (and retain your current staff), take a moment to stop and consider the simplest option. Sure, a new snooker table might look great, an employee party might be a lot of fun, and free dance classes might make you happy. But what about your employees?

We all have different wants, needs, and interests. While a gaming room or weekly massage might sound great, it’s just not going to convince people to stay in the same way that regular bonuses will.

At the end of the day, employees come to work to get a paycheck. Financial stability and rewards are almost always going to trump those other “fun” benefits. That doesn’t mean that you should forget about those benefits entirely, but they should come after the more traditional ones.

Make sure your next role has all the perks and benefits that are important to you. Research companies on the House of Talent Job Board today.