It’s no secret that perks at work can have a positive impact on creativity, productivity and happiness – but the days when a solid pension package alone was key to talent attraction and retention are long gone.
For example, London based media communications agency MediaCom has an in-house, subsidised bar which hosts ad hoc celebratory drinks and last year the agency launched a monthly event called MediaCom’s Got Talent, which invites staff to showcase the fun side of their personalities through events such as a “DJ hero” competition.
Luxury brands are also experimenting with inventive lifestyle benefits. Last year at Net-a-Porter, which is owned by Richemont Group, invited a brass band into its London headquarters to celebrate the company hiring its 1,000th employee and Molton Brown’s offering includes days off to celebrate milestone birthdays and giving an extra week’s holiday in the year staff get married.
In these comparatively austere times, smart HR professionals are developing programmes to motivate their staff and encourage a feel-good factor in the workplace while still keeping a close eye on budgets. Decision makers are moving away from traditional incentive scheme packages towards non-standard benefits which enhance their talent’s day to day comfort and encourage a greater work life balance.
HR professionals who are able to develop fresh and innovative reward strategies understand the intangible effects of a contented workforce. Increased engagement ultimately results in heightened performance and greater retention levels which are the key objectives of any successful HR strategy.
