It seems hard to believe, but come companies are bringing back perks in an effort to keep employees from taking a better gig.
So says a recent survey by global outplacement and executive coaching consultancy Challenger, Gray & Christmas, Inc.
Forty-two percent of the of the HR execs surveyed said they are “growing more concerned about other companies poaching top talent, as the economy improves,” Challenger said in a press release.
A sizable number of companies that slashed perks to reduce expenses during the recession are now making nice to employees. Eighteen percent of the HR leaders surveyed said their companies have restored all perks that were cut, 41 percent have restored some perks and 23.5 percent said they now offer brand new perks.
“Whether it’s something simple, like free bagels in the lunch room every morning, or something more substantial, such as tuition reimbursement or flexible scheduling, these perks can be an essential part of worker morale and job satisfaction. Companies that are frequently identified as ‘the best places to work’ typically offer a variety of unique and well-regarded perks,” CEO John A. Challenger, said in the release.
However, cash is the best way to spread the love.
“Cash is still king,” Challenger said. “Bonuses are always going to be popular because it conveys to employees that they are an integral part of the team and that their performance directly impacts the bottom line, so when the company does well because of their hard work, they are rewarded with extra money. But many companies are also finding success with low-cost and no-cost perks.”
Is your company bring back perks?
Challenger press release: Survey Finds Companies Worried About Retention