Fringe Benefits: Guaranteed Happiness?
Several businesses have recently started taking their employees on vacation once per year. These types of initiatives usually make their way around the web. But is this just a smokescreen? Do exciting fringe benefits guarantee higher employee morale? Does it keep them from leaving? As an entrepreneur, I want to know!
Spectacular Fringe Benefits: Just a Marketing Trick?
What is an employer’s true objective when he pays for a group vacation for his employees? Is he trying to improve cohesion amongst his teams? (If so, I sincerely applaud him!) Or rather is he trying to attract attention from media outlets, and consequently, from candidates? A free trip can be attractive! Unlimited days off, catered meals, drinks, even pool tables…
But do people want these benefits? Do they prefer to receive a bigger check? Paid vacations? A flexible schedule? Full insurance coverage? An ergonomic workspace? I wonder…
According to a Randstad article, “Potential employees find a current employee’s testimony more credible than any of our marketing efforts”. So, if our personnel is happy, it will provide us the best advertising, with or without a trip to Cuba. Makes sense to me… What about you?
Fringe Benefits: Which Ones Would You Enjoy Best?
Obviously, start-ups don’t have the same means as multinationals. As a young entrepreneur, I find it difficult to compete with the industry’s big boys. Qualified and talented candidates don’t grow on trees! And everyone wants them!
So how can we attract the best candidates… and keep them? Fringe Benefits – from espresso makers to more days off – represent a cost to the employer. Whatever is spent in one place, can’t be spent somewhere else. That’s why we, as bosses, have to ask the right questions! Is dishing out 25,000$ on team-building activities worth it? Is offering catering services necessary?
So, tell me: If you were a Triple Boris employee, what fringe benefits would youwant? Personally, when I’m selling the benefits of working at Triple Boris to a candidate, I place emphasis on:
Am I on the right track? Simon wants to know!