12:00 AM, 05 27, 2016

Is your business offering the wrong perks?

Perks are a huge topic for business owners and HR professionals right now. The millennials are here, and people aren’t staying at one company for decades for their special watch.

With increased house prices, worries brought over from periods of instability and uncertainty in the job market – candidates want the best deal, financially.

This is combined with a change in the job market where many roles are now incredibly sought after by companies, particularly in the digital areas. With many candidates having the ‘pick of the land’ when it comes to who to work for, perks are seen as a way to retain and attract staff.

But what if your investments are being put into the wrong areas? Hays recently launched a new survey that has shown a striking differential in the perks or benefits afforded to staff, and what they actually want. Here’s the chart.

Pensions, medical cover, study funds, car allowance and life assurance all appear to be, at present, out of favour with employees. The stand out benefits that employees really want are all distinguished by being accessible now! Flexible working, extra holiday allowance, and gym/ healthcare were all important to employees – but not as commonly offered by employers, indicating a current trend for employees to be interested in bettering their working lives right now.

If you’re spending money on a study fund, could you place this investment into a way to offer employees reduced healthcare, grocery shopping, or clothing? SVM Global have many years experience in helping companies provide gift cards, potentially at a slight discount, which can make rewarding your staff easy and effective. We work with supermarkets such as Tesco and Sainsburys, coffee houses such as Starbucks, and many clothing retailers and department stores.

If you want a reward that has the instant benefits people are evidently seeking, gift cards might be the answer.

If you want to understand how this works, don’t delay – email us now at hello@svmglobal.com and we will get back to you immediately.

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