{"id":16130,"date":"2016-11-21T05:00:26","date_gmt":"2016-11-21T13:00:26","guid":{"rendered":"http:\/\/www.yardi.com\/blog\/?p=16130"},"modified":"2020-12-24T21:54:13","modified_gmt":"2020-12-25T05:54:13","slug":"next-gen-perks","status":"publish","type":"post","link":"https:\/\/www.yardi.com\/blog\/next-gen-perks\/","title":{"rendered":"Next-Gen Perks"},"content":{"rendered":"

To woo the next generation of workers, employers need to think beyond the standard\u00a0 benefits package and embrace a new era of employee perks.<\/em><\/p>\n

Once upon a time, job seekers placed salary above all else when on the hunt for employment. These days, a new generation of millenni\"shutterstock_289645697\"al employees is putting less and less emphasis on wages. Instead, they are seeking out opportunities with the potential for career growth and the ability to positively contribute to the world around them. They are also increasingly focusing on a range of nontraditional benefits designed to make the workday more enjoyable and enhance the work-life balance.<\/p>\n

\u201cLanding a dream job isn\u2019t always just about the actual work,\u201d writes Fast Company\u2019s<\/a> Lydia Dishman. \u201cAmong the best companies to work for, employee review platform Glassdoor found that personnel were\u00a0just as jazzed<\/a>\u00a0about mission-driven company cultures, great career advancement opportunities, and amazing benefits and perks.\u201d<\/p>\n

While the pendulum hasn\u2019t quite swung far enough to allow applicants to call all the shots, certain industries are struggling to find the right fit for increasingly niche, technology driven positions. In this environment, salary and basic benefits \u2013 like medical coverage and 401k options \u2013 are relatively standard offerings. In order to stand out in today’s employment marketplace, businesses must offer something different, including new and unique rewards that go beyond extended time off and free-pizza Fridays.<\/p>\n

Why Perks Matter<\/strong><\/p>\n

According to Glassdoor<\/a>, more than half of all job seekers admit perks are tremendously important. Now that potential recruits can quickly research potential employers online through sites like Glassdoor, companies are pitching themselves as more responsive and flexible. As a result, more and more businesses are offering adaptable work schedules and unlimited family leave. The modern office space now comes outfitted with hammocks, sandboxes and foosball tables. Some employers even offer student loan repayment. The ultimate goal of course, is to create an attractive atmosphere of easygoing ambition and career fulfillment.<\/p>\n

“Providing those kinds of very subtle but significant opportunities do really make a difference in turnover,\u201d says Ken Matos<\/a>, senior director of research at New York City-based Families and Work Institute, a nonprofit dedicated to work-life-balance research and initiatives.<\/p>\n

\u201cThink about the challenges that your employees are facing,\u201d he says, \u201cand help solve them.\u201d<\/p>\n

Matos believes companies should focus on \u201crelieving stress and making work and life integrate better\u201d when considering perks.<\/p>\n

\u201cEmployees [are more likely to say], \u2018I am not going to leave, because I am not going to be treated as well, or have as much influence in making sure I am successful in all my domains someplace else.\u201d<\/p>\n

A Bevy of Options<\/strong><\/p>\n

The most valued perks run the gamut from time off to funding for family needs to encouraging hobbies and travel. REI team members, for example, are offered two paid days per year to pursue their favorite outdoor activity. Anyone logging hours at World Wildlife Fun can use their \u201cPanda Fridays\u201d every other week to spend time working at a nonprofit. Meanwhile, Airbnb workers earn $2000 travel stipends. Disney staff gets free park admission along with discounts on hotels and merchandise.<\/p>\n

Some of the more unique perks listed by Glassdoor include team-building courses ranging from macaroon baking (Evernote) to woodworking and silk-screening (Google). Twitter offers three catered meals a day, but supplements that fairly typical offering with on-site acupuncture and improve classes. Twilio gives its employees a Kindle and a $30 a month budget for book purchases. Pinterest and Asana provide counseling and life coaching. Spotify will even foot the bill for fertility treatments.<\/p>\n

“If the company can take away some of the stresses in the employee\u2019s life, then the employee will be better able to concentrate on work,” Cynthia Fukami, Ph.D., a professor of management at the University of Denver\u2019s Daniels College of Business tells Fast Company<\/a>. “To remain competitive in the marketplace for the best employees, you want to be going beyond what others are doing.\u201d<\/p>\n

The Best and the Brightest<\/strong><\/p>\n

Companies currently spend over $700 million a year<\/a> measuring employee engagement and attempting to boost morale. Much of that funding goes to recruitment and retention.<\/p>\n

\u201cMore than a metric, employee engagement is something savvy business and HR leaders continually monitor and build,\u201d explains Bersin & Associates Senior Analyst Dr. Brenda Kowske. \u201cIt is an untapped store of employee energy and a wealth of potential organizational excellence.\u201d<\/p>\n

According to Glassdoor<\/a>, companies who manage to succeed in drawing the right candidates share a host of common goals, including \u201cmission-driven company cultures, career advancement opportunities, a sense that their work has impact, and amazing benefits and perks.\u201d Happy employees also point to transparency in senior leadership, intelligent colleagues, and challenging\/exciting work as factors that influence their job satisfaction.<\/p>\n

As Heidi Golledge, co-founder of CareerBliss, elaborates, “Far beyond a paycheck is the relationship they have with their co-workers and manager that defines a happy workplace for them.”<\/p>\n

“We believe that every employer and employee has the ability to find and create work environments that foster happiness and success.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

To woo the next generation of workers, employers need to think beyond the standard\u00a0 benefits package and embrace a new era of employee perks. Once upon a time, job seekers placed salary above all else when on the hunt for employment. These days, a new generation of millennial employees is putting less and less emphasis […]<\/p>\n","protected":false},"author":103,"featured_media":16148,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_s2mail":"yes","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[4],"tags":[1645,291,1642,76,1484],"class_list":["post-16130","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-glassdoor","tag-millennials","tag-tech-jobs","tag-technology-2","tag-workforce"],"acf":[],"yoast_head":"\nYardi Blog<\/title>\n<meta name=\"description\" content=\"To woo the next generation of workers, employers need to think beyond the standard\u00a0 benefits package and embrace a new era of employee perks. 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