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Employee Benefits and Corporate Perks

How to choose company perks and benefits for you employees has a consultancy division where we help large businesses determine what perks and benefits they could to their employees. We have written this document to help HR and benefit professionals better understand the varied choices in the world of employee perks and what makes sense for your employees.

What Should You Be Providing To You Employees?

You should provide perks, offers and benefits to your employees that are valuable to them and they should be something they cannot get by themselves.

Determining Your Perk Objectives For Your Employees

It is clear that as an HR representative you have to choose company perks wisely as your choices will reflect your ability to judge your own staff's needs and expectations. Choosing a poor list of perks will mean that your staff will not use them and then judge you based on those choices. Determining the objectives is key to a success of the perk program. Depending on the type of business you represent, the objectives may look quite different. A multi-national company with 1000,000 staff all over the world would have a different list of objectives than say a New York City based tech company with just 2000 employees. We have seen some companies start off with perk objectives that state "Bring as many offers as we can to our employees" which is a huge mistake that we will show below.
Employee Perks and Benefits
Common successful elements of perk objectives for global companies are to provide:
  • International hotel and flight discounts for employees personal travel
  • Global branded entertainment solution like Disney parks worldwide
  • International concierge services, to help your employees 24/7 wherever they are, regardless of work or pleasure.
Common elements of perk objectives for more local companies are to provide:
  • Discounted or free dry cleaning services near the offices
  • Discounted gym memberships near the offices
  • Local entertainment offers
  • Discount offers to frequently travelled locations
The types of objectives to avoid are retail product discounts that employees can already get from the internet that include flowers, car rentals, discount movie tickets etc. as any perk solution for these always compares poorly to the ubiquitous offers already available on the internet. Poor offers will drag your solution down and at that very moment your employee perk program will lose credibility and employees will stop using it. Avoid any offers that you employees could get by themselves. Understanding your objectives are key and the focus should be on the side of minimizing the list, not maximizing it. Focus on bringing the best offers and perks to your employees and drop all the minor perks. You need your employees to be able to say, "Wow, Really get some special benefits by working here" instead of saying "Wow, my employer gives me access to hundreds of mediocre offers that I could already get by myself"

The Biggest Rookie Mistakes When Choosing Employee Perks

Mistakes When Choosing Employee PerksMany HR representatives will choose a comprehensive perk service that offers over 1000 perks and offers for their employees. This somewhat lazy approach appears to be initially gratifying to employees, but as the employees begin drilling deeper into the offers, they discover that it is impossible to find the good stuff, as the offers are mostly chaff . The service is touted as having 1000's of offers so that must be good, but the reality is that it is really bad choice. HR representatives love to be able to tick off a box on their annual review that they delivered a comprehensive service to their employees, but they fail to actually determine how many employees continue to use that service after launch. As the number of employees using the service wanes, the HR representative is completely in-the-dark to the actual success of the program and frankly, they do not want to know as they have already checked it off on their annual objectives and true successor the program is not something they may want to know. In our experience a comprehensive perk service is a big mistake and shows how little the HR division understands what they should be doing for employees.

Other than the poor offers with associated comprehensive services, the problem with those type of services is that it encourages “shopping at work” For example our focus at is Broadway and Sports in the New York Area. That is the kind of vertical service that you should be providing to your employees, not the overwhelming choices of services like where the perks number in the 1000’s, which is a rookie mistake to provide to employees. We provide consulting to businesses for choosing perks and the no.1 rule is to always provide vertical and exclusive offers, like discounts to local dry cleaners and gyms, that cannot be found on public websites. It has to be a true employee perk, otherwise the employees reject the offers and do not feel that working for you brought them anything special that they could not get by themselves.

You have to show the employee that working for you brings them something that they cannot get by themselves, something that is often lost on benefit and perk professionals.

Ask Your Employees If You Are Bringing Them The Things They Want

Long gone are the days when the HR division dictated to their employees what they are going to give them. The new model of HR is one of listening to its employees and delivering on those expectations.

Anticipating Your Employees Needs Before They Do

Going the next step of providing things that employees have not even thought of is the stage where the most successful HR executives are at.