Company Perks - do they work?

It's very rare that I'm impressed with SEEK, however the current run of TV commercials for their new ‘Company Review’ product offering certainly grabbed my attention. Clemenger BBDO have created a funny, topical take on some of the outrageous company perks that are out there in the market, with the view that once you get into the business, they may not always quite be what they seem. Take a look here if you like: https://www.youtube.com/watch?v=dbFF_lyiM_k

I’m lucky enough in my role to get a view of some of the best organisations in the country, how they recruit and some of the benefits that come with working with that organisation. I was recently asked by a client, that presuming they had no budget limitation, what they should be doing to attract talent to their organisation, and what my view was on some of the more 'out there' company benefits. My answer to them was that before we got into what others are doing, that first they need to think about what they are trying to achieve long term by increasing their cultural value offering. The key here is culture: What does your business want to be known for? Is it fun? Is it productivity? Is it family friendliness, profitability or creativity or a combination of any of these things? As a business you have to look at what the greater outcome is. Are you trying to improve the lives of your staff or the life of your business?

More often than not organisations spend a fortune on benefits that are rarely used (think chefs, state of the art kitchens, in-house gyms, basketball courts, sleep pods). Are these perks there to actually help employees or are they there to help that business with their talent attraction strategy? I'm thinking the latter.

This then got me to thinking, what do employees really want? From a survey Network 20 had compiled in 2015, the key items were childcare facilities, healthcare, the latest technology to work with, a decent training budget, mental health (rest) days, flexible working hours, parking and travel assistance and an association to a charity / sponsored charity. Our research found that there was little mention of the small stuff: breakfasts, lunch, beers on Friday, gym memberships, Ping-Pong tournaments or bring-your-dog-to-work days. All of the top answers came back to two key areas. For those with family it was about flexibility, understanding and support. For those without family commitments it was about making life as easy as possible in order to do a great job. They quite simply didn't care about the small stuff. 

 With this in mind, I thought it would be interesting to do a quick search for some of the company perks currently on offer from Australia’s 'top' employers. Take a look below and see what works for your business:

 All results are taken from the companies’ web page:A great place to start is with Atlassian. https://www.atlassian.com/company/careers/benefits They have the longest list, but here are the six key areas:

• Work/Life balance,
• Fully stocked kitchens
• Office perks (standing desks, Aeron chairs, yoga, PlayStations, pool tables)
• Fast company growth (so lots of opportunity)
• Ownership - Company stock etc.
• Foundation leave (charity)

 Facebook https://www.facebook.com/careers/benefits/

• Health
• Family
• Community
• Growth
• Finance
• Convenience
• Time away

 Amazon  https://www.amazonfulfillmentcareers.com/amazon-fulfillment/benefits/

• Health
• Time off
• Savings plan
• Employee stock
• Relocation

 CBA https://www.commbank.com.au/about-us/careers/our-benefits.html

• Pay
• Shares
• Salary sacrifice
• Childcare
• Super
• Discounted banking
• Lifestyle deals
• Childcare centres

 Google https://www.google.com.au/about/careers/lifeatgoogle/benefits/

• - Health and wellness
• - Travel insurance
• - Extended parental leave
• - Learning
• - Legal

Ok, so do we see a trend here? It looks to come down to family, health and wealth. If you're looking at what you need to do to attract staff, then my view would be that if you can focus on these areas, and add benefits that support this, your money will be well spent. 

Should you require further information about any of this, please don't hesitate to get in touch. Network 20 are a research based recruitment organisation, helping the best employers, attract the best technical talent in the country.