Planning your perks in a way that they are beneficial to employees and employers alike
A monthly compensation or salary is the prime motivation for an individual to work for an organization. But surely it isn’t the only one. There are several reasons which enable employees to stay and work in a company for longer periods. A major part of this includes the benefits and perks offered by an organization. The benefits generally include the Non — Wage compensation that adds on to the salary like insurance cover, extended stock options, tax assistance etc while perks are the Non — Monetary rewards or add on or facilities that the employer provides to an employee so that their offer seems better than others plus so as to enable an employee to work better. Under the current scenario, perks seem to be an awesome way for employee motivation and employee engagement.
Do you have an idea that well planned perks can be beneficial not only to the employee but to the employer or the company as a whole? Lets elaborate on this one starting with a conversation.
Perks help you enhance employee productivity
Perks if linked with performance can create a sense of competition amongst various employees allowing them to push boundaries, enhance their employee productivity and deliver great results. It’s a nice idea to conceptualize an employee recognition program, keep the employee monitoring meter on to evaluate your team’s performance and offer perks accordingly. To track the work frequency of your team we360.ai helps being a time tracking, task management and leave management tool
Perks help you save on taxes
This one seems a bit tricky but offering more in kind rather than in cash can help a company save up on its taxes as well. The finance team can show a lot more expenses now thereby reducing the tax burden. Laptops for staff, mobile recharges, food coupons can be a few examples. Read more on saving taxes HERE.
Perks help you build a glossy work culture
Imagine employees liking to stay in office for longer hours, communicate with peers more and more and so on. This is only possible when your work culture has adequate gloss to attract them towards work.