It's a tough labour market in North America right now, with more than 11 million open jobs in the United States alone. As an employer, the traditional compensation of a salary and bonus may not be enough to attract top-tier talent who have no shortage of options for work.
Gone are the days when a salary package alone could allure (and retain) the people your company needs to succeed. That's why savvy business leaders are taking extra steps to foster a competitive hiring environment within their company—going beyond the employee incentives of yesterday.
If you're at a loss for creative employee incentives that add to your compensation package, we've got you covered. In this article, we’ll share some fun and unique employee perks and incentives that can help your business attract the talent it needs.
Now more than ever, employees have their health and wellness top of mind. In light of the COVID-19 pandemic, it makes sense why employees would want to keep their bodies and minds in top shape, especially for those returning to the office.
Employers across North America realize the importance of health and wellness programs. In fact, 73% of U.S. employers currently offer a program of this kind.
Recently, a Fidelity study found that the most popular corporate wellness programs in America included the following perks:
To attract the right kind of attention from the best talent in the market, offering the health and fitness employee incentives listed above may be a great place to start.
Who doesn't love to get a bite to eat with their friends or colleagues? By offering corporate meal credits, you can stay competitive in today's hiring market while rewarding your employees with delicious and nutritious foods they otherwise might have never tried.
With Ritual for Companies, your office can take advantage of all the local food options available in your area. Simply sign up for Ritual for Companies today to discover the possibilities that exist for offering delectable food credits for local restaurants to your team members.
The process is simple: once you've signed up, each employee can access their Ritual account from their smartphone. The intuitive Ritual interface allows each employee to order food from their mobile device for pickup (either instant or scheduled for later) at any participating restaurant. Employers can offer a daily allowance to their employees (e.g., $15 in credits) that can expire or roll over to the next day.
Over time, your employees can earn points to redeem for free food and drinks at local restaurants. Plus, Ritual lets your team enjoy local foods together during lunch or after-hour outings. Whether you order solo or take part in group ordering, you can get the food you and your team loves without having to wait in line.
Today's young, socially-conscious workforce is more ecologically minded than previous generations. That paired with sky-high gas prices means your team would probably love to have the option to not take their vehicle to work every day.
Including municipal transit passes (or public transit subsidies or partial refunds) in your employee benefits package is an awesome idea for supporting both a sustainable environment and a happy workforce. Similarly, including subsidies for bicycles, bicycle repairs, and other forms of green transportation can help inspire your employees to make more eco-friendly transport choices and lead a healthy, active lifestyle.
We have to face the reality that some employees, or would-be employees, are simply not well suited for working at the office five days per week. In order to keep a hold of top-tier talent, it might be a good idea to offer your employees the option of spending a certain number of working days at home (say, twice per week, or ten times per month).
A Gallup poll found that 38% of workers would prefer a hybrid work environment over a purely in-office or at-home setup. To capture the interest of this sizeable portion of the workforce, adding the potential to work partially from home can be immensely beneficial for your competitiveness in the hiring market.
Some companies or company divisions, such as Microsoft Japan, have taken the initiative of canceling Fridays. Yup, that's right—on Fridays, most employees in Microsoft's Japan office have the option of working. The results were refreshingly positive, with a reported 40% monthly boost in employee productivity among those who chose to take Fridays off.
That's not to say that your business needs to follow in lockstep. But, rather, offering flexible hours and the option to take additional time off at no cost may be a win-win situation for both employer and employee. Emphasizing to prospective employees that you recognize the importance of their personal lives, and that you encourage them to take vacations, extended leaves of absence, or even Fridays off, may put your company ahead of your competition when making your next hire.
Today’s generation of employees are guided by deeply held personal values, and their employment decisions will be influenced by these values. According to a recent Deloitte survey, 44% of Millennials and 49% of Gen Z'ers have stated that their personal values will dictate where and how they work.
If you want to stay competitive in tomorrow's hiring market, you need to offer creative compensation solutions that appeal to employees’ personal values.
Ritual for Companies is one such solution. By offering fun, local dining options to your employees, you can foster a culture of community, togetherness, and discovery.