Companies are constantly seeking ways to attract and retain top talent, and one increasingly important strategy is the thoughtful design of aligning workplace benefits with employee values. Gone are the days when a standard benefits package was enough to satisfy workers…
Employees today are looking for perks that reflect their personal beliefs and lifestyle choices, whether it’s supporting local businesses, promoting sustainability, or prioritising wellness. With this in mind, hereโs some inspiration for ways that companies reward their staff with purposeful benefits, from liaising directly with staff to focusing on inclusivity and using metrics to measure success.ย
Understanding employee values
Before implementing new perks, it’s important for companies to gain a deep understanding of what their employees truly value. This process often begins with conducting comprehensive surveys and focus groups to gather insights directly from the workforce. But it’s also important to consider generational differences, as millennials, Gen Z, and older employees may have distinct priorities.
Despite these differences, companies should look for common themes that emerge across their workforce. This research phase is essential in ensuring that any new benefits or perks will resonate with a significant portion of employees, rather than falling flat or being perceived as out of touch.
Inspiring key value areas by aligning workplace benefits with employee valuesย
When aligning perks with employee values, several key areas often emerge as priorities. If supporting local businesses is a strong value for employees who want to see their company invested in the community, then rewarding staff with artisanal products made locally is a purpose-led reward.
Environmental sustainability is increasingly important to many workers, particularly younger generations, while health and wellness continue to be crucial โ in these instances, benefits such as health cover or volunteer days for sustainable causes can be a good choice.
Work-life balance remains a top concern, with flexibility often valued highly, and personal and professional development opportunities are sought after by ambitious employees looking to grow their careers. Companies that offer paid-for training courses or personal development budgets set themselves apart to these types of candidates.
Keeping mission and values current
As businesses continue to evolve it’s crucial that the benefits provided stay aligned with the company mission and values. This alignment ensures that the benefits package not only supports employees’ wellbeing but also reinforces the core principles that define the organisation.
Integrating mission and values into the design and implementation of company benefits isnโt a one-time task. It should be a continuous process, ensuring that every benefit offered resonates with company goals and values. Whether it’s healthcare, retirement plans, or wellness programmes, each perk should reflect what the company stands for and what it aims to achieve.
A periodic assessment of the benefits package will ensure it remains in sync with current objectives. This approach isn’t about discarding past practices but about adapting and refining offerings to meet present needs and future challenges. This not only strengthens organisational culture but also attracts and retains employees who share and appreciate the company vision.
Engaging the entire team in decision-making
Itโs important to involve everyone in the decision-making process when it comes to choosing benefits. It fosters trust and instils a sense of ownership and responsibility, which is crucial for keeping an organisation’s values at the forefront of any decisions made.
After all, the benefits on offer are for staff, so it stands to reason that they should have their say in the types of benefits and perks theyโd appreciate the most. To ensure all team members feel comfortable sharing their thoughts, there should be opportunities for anonymous feedback, such as surveys which are particularly effective, as well as in-person workshops or meetings.
Using ESG principles to boost benefits
An Environmental, Social, and Governance (ESG) framework assesses a companyโs environmental efforts, relationships with employees, clients, and local communities, and how the organisation is managed and led.
Robust ESG practices can attract investors and are increasingly important to employeesโ62% of employees are more inclined to stay with a company that offers ESG-aligned benefits. These might include incentives for using carbon-neutral transportation, hybrid work models, ESG investment and retirement options, and inclusive, accessible digital-first support.
Enhancing inclusivity by aligning workplace benefits with employee valuesย
To increase accessibility and scalability across an organisation, focus should be placed on building a digital-first culture, incorporating more flexible benefits. This should be people-centred with digital solutions enhancing rather than replacing human interaction. However, since providers vary, itโs very important that any intended employee solutions are evaluated for security, bias, and ethical considerations.
By ensuring such offerings are as accessible and impartial as possible, long-standing barriers can be broken down and gaps in any support systems can be closed. Simplifying access to care and resources through digital means benefits all employees, not just those who require specific adjustments, and fosters a more inclusive and adaptable workplace.
Adjusting misaligned benefitsย
Companyโs values influence both its success and the benefits provided to employees. When thereโs a disconnect between values and benefits, it sends conflicting signals to clients, potential investors, current staff, and prospective hires.
For instance, a company that prioritises sustainability in its mission would need to align its benefits accordingly across the organisation. On a larger scale, this might involve switching to more sustainable benefit providers, while on a smaller scale, it could mean implementing a rewards programme that acknowledges individual efforts, such as using public transportation or reusable items at work.
Measuring success
To determine the effectiveness of purpose-driven perks, companies need to establish clear metrics for success. Employee satisfaction surveys can provide direct feedback on how well the new benefits are received and utilised, but retention rates also offer a tangible measure of whether the perks youโre offering are contributing to employee loyalty.
Productivity metrics can help gauge if the new benefits are positively impacting work output too. Finally, tracking the company’s reputation and employer branding can reveal how these purposeful perks are shaping public perception of the organisation as an employer of choice.
Overcoming challenges
Implementing any type of benefit in the workplace isnโt without its challenges. One major hurdle is balancing diverse employee preferences, as what appeals to one segment of the workforce may not resonate with another. Companies need to strive to offer a range of perks that cater to different values while maintaining a sense of fairness.
Managing costs is another significant challenge, as meaningful benefits can be expensive. This requires careful budgeting and potentially creative solutions, such as partnering with local businesses for mutual benefit. Ensuring equity across different departments or locations can be tricky too, especially for companies with a geographically dispersed workforce. Overcoming these challenges requires flexibility, open communication, and a willingness to continuously refine and adjust perk offerings.
Aligning workplace perks with employee values is more than just a nice-to-have โ it’s becoming a crucial strategy for companies looking to build a satisfied, engaged, and loyal workforce. By taking the time to understand what truly matters to employees and designing benefits that reflect these values, itโs possible to create a more positive and productive work environment.
This approach not only benefits employees but also contributes to the long-term success of the organisation through improved retention, attraction of top talent, and enhanced company reputation. As the job market continues to evolve, companies that prioritise purpose-driven perks will likely find themselves at a significant advantage.
