04 Feb Employee Perks: The Impact on Engagement and Retention

Employee Perks: The Impact on Engagement and Retention

Last week we began exploring the ideology of employee perks, beginning with defining the blurred line between perks and benefits in the workplace.

Group of colleagues bonding on coffee break, chatiing, drinking coffee

It is not new knowledge that the most valuable resource of any organisation are the human resources. This is why it is important to show how valuable each employee is to the organisation through the utilisation of perks; ultimately creating a culture of appreciation.

However, the need for employee perks has become increasingly more important in recent years as the economic and job market conditions shift from the employer to the job seeker. The healthier the job market is, the easier it is for employees to move on to another role at another company, making perks a large part of retention and attraction.

In the modern day, employees rely on a variety of perks from their employers, making it essential for you to offer competitive and desired benefits. Whilst not everyone agrees that talent attraction and retention is the main goal of perks, it is unarguably a powerful contributor.

Not only attraction and retention, perks also have a great positive impact on the engagement of individuals. This is simply due the employee’s feeling valued, needed, and well-looked after in the workplace, growing their organisational loyalty and productivity.

Are you noticing a lack of engagement and retention? It may be time to consider implementing incentives such as employee perks to boost productivity, attraction and loyalty.

Contact Hubb Strategic Consultants for an obligation free consultation to begin your journey in positioning your company as a true competitor.