The time for personalized perks is now.
Back in 2010:
Perks, when they first emerged over a decade ago, were considered “nice-to-haves” and employees’ expectations for them were low. Companies offered things that we today consider “fluffy” like snacks, free beer, ping pong tables, and massages. Also, because perks were considered a bonus by employees, there weren’t any formal processes or programs around them. There was often free beer in the fridge and snacks lying around, but it wasn’t a big deal when there weren’t.
Today in 2019:
However, fast forward to today. The adoption of perks is growing, but the models of offering them haven’t kept up. Unlike many other industries, perks do not yet have any frameworks or processes defined for how to picking perks for a company. Most people are relying on prior knowledge, experience, and that of others.
Perks have transitioned into a “must-have” for every company as expectations are higher than ever. Employees are looking further than free snacks, and demanding more meaningful perks, such as workplace flexibility, wellness, student loan forgiveness, childcare, and continuous education. Perks are now a critical talent strategy that is becoming increasingly expensive.
Just think about how needs and preferences differ between generations, life stages, locations (remote vs in-office), health & wellness needs, etc.
Personalized perks offer diverse organizations the chance to better engage their employees and make them feel appreciated in the workplace.