Now, you might be thinking of an employee perks program as a supplement to your employee welfare scheme. Some benefits include increased employee engagement, happier employees and making it easier to attract talent. However, on top of these core benefits, there are many other supplementary benefits that come about from a well-designed perk program.
1) Increased cohesion amongst employees
One of the biggest dilemmas that managers face is getting their colleagues to hang out and build relationships outside work. Having strong interpersonal relationships in an organization leads to lower instances of conflict, improve teamwork and increased productivity. Having a curated range of activities outside work for subsidised rates is something that instantly reduces the barriers to socialising outside work. For example, if an organisation has discounts for employees for a sports facility like a futsal pitch rental site or just drinks after work, it makes it much easier for employees to decide to hang out. This is a simple yet effective side benefit of an employee perk program.
2) Health in the workplace
“Health is wealth” is a common saying in Asia. With increased rates of illness at the workplace, it might suit organizations to encourage employees to lively healthy lives. With the right education, skills, motivation and social support, people change their behaviour. Wellbeing programs are good at helping people adopt and maintain healthy lifestyles. Furthermore, on top of efficiency improvements from physically healthy employees, reduced medical costs are a secondary saving point.
A benefit program can also help encourage activities that promote a healthy lifestyle through curated discounts for employees. This includes healthier eating options, fitness classes and even relaxation programs such as massages. Discounted health checkups and dental care can also help catch early onset of diseases which they may otherwise have missed as most employees do not go for regular health checkups. Having special discounts for these activities reduce the barriers to living a healthier life with many employees citing “high costs” and “inconvenience” as reasons to avoid them. Therefore, anything that makes it cheaper is fantastic for both the employees and the organization.
3) Increased organizational brand presence in employees’ minds
Having an employee perks program can help link your organisation to other aspects of the employee’s life. Activities such as shopping, a dinner date or a movie can all become activities that have a positive association with your company when your employee flashes their rewards card and receives an exclusive corporate discount. This might seem like a trivial effect but these little things do add up. Having your company being associated with positive aspects of an employee’s life is likely to increase their engagement and reduce the likelihood of them leaving the company. Studies have shown that businesses with higher employee engagement enjoy 22% greater profitably and I’m sure that’s exactly what every organisation wants to achieve.