It's Time To Move Beyond Perks
Jacob Morgan
Keynote Speaker, Professionally Trained Futurist, & 5x Author. Founder of "Future Of Work Leaders" (Global CHRO Community). Focused on Leadership, The Future of Work, & Employee Experience
We have come to understand that in order to attract and retain the best talent in the future of work, organizations must create a workplace where people want, not need, to show up to work. But in this effort to create great employee experience, we can sometimes get sidetracked with focusing solely on perks and benefits.
Listen to the podcast minisode here.
While perks and benefits can be very beneficial to employees, it can also be dangerous. There is a term in psychology known as the Hedonic Treadmill, also known as the Hedonic Adaptation. This is a tendency in humans that has been observed which shows that we quickly return to a relatively stable level of happiness despite major positive or negative events or life changes.
What does this mean for organizations implementing the latest and greatest perks and benefits at the drop of a hat? Well, it means we adapt to our surroundings quickly. So, let’s say your organization implements a new policy stating that there will be free food everyday and every Friday is bring your dog to work day. You may notice that on Day 1 of the new policy people are excited and engaged, they think their employer is the best.
But eventually these new perks will become old news, everyone will adapt and people will essentially become numb to the perk. Which means the organization has to come up with new and better perks to top the last few to get engagement back up. And on and on it goes.
The truth is, perks are a nice tactic, but they are not a strategy.
Watch the companion video here.
Learn the proven & powerful concepts in today’s most effective organizations with my free training series on Employee Experience here.
Founder & CEO @ Evergreen Industries | Helping Defense Tech Founders Find Product-Mission Fit -- This is how we win!
5 年Just subscribed to your Podcast, Jacob Morgan!? Can't wait to learn more about the #futureofwork?as I design my career transition
Visionary investor and Luxury Modern Custom home builder
5 年Great information!
Chief Learning Architect | Leading People First | Employee Advocate
5 年If we design our employee experiences the same way we design client experiences, we can develop positive work places that drive productivity.
Human-centered Org Developer | Procsci | Innovator
5 年Kelly Wonder Britton Bloch John McGarrity
Head of Solutions (Presales) & GTM | Product Marketing | Human Focused Design | Consumerization of Enterprise SaaS
5 年Perks and Benefits are like Sales Promotions. They give you results in short term but they are not sustainable over a period.