5 Perks Your Employees Want More Than A Pay Raise
1. Wellness Program
Employees spend most of the time of their day in the office, sitting on the chair. This leads to the sedentary lifestyle which in turn invites a lot of chronic and lifestyle diseases. Also, regular monotonous work schedule leads to a dropped employee morale and productivity. Hence, employees prefer a good wellness program in their organization which keeps them healthy, fit, energetic and motivated throughout the day.
2. Performance Bonus
Rewarding the employees now and then will increase their due diligence considerably, and hence increase the overall effort from the manpower in the organization itself to improve business performance. When an employee has rewarded a bonus for the best performance, it will obviously encourage him/her to continue doing quality work.
3. Vacation/ Paid Time Off
Employees need a work-life balance to stay fit and less stressed. Vacation time-off is a key factor to maintain this balance and hence employees prefer vacation time-off over a pay raise. Also, vacation brings a quality time for employees to be spent with family or loved ones. It eventually leads to increased productivity & the success of your organization.
4. Flexible Schedule
With a flexible work schedule, employees feel empowered to structure their work and personal lives. Also, flexible time supports employee engagement, boost employee morale, and retention. On the other hand, employers can achieve various benefits such as reduced absenteeism, increased employee morale, engagement, and commitment to the organization.
5. Healthcare Insurance
The reason why employees prefer their employer to pay for their health insurance rather than receive increased wages and pay for their own health insurance is that wages are taxable income to the employees but the money the employer spends to buy health insurance for the employees is not taxable. Besides, with the corporate insurance policies, the premium remains low as compared to the individual family insurance policies and in such a low premium pre-existing diseases are also get covered.