Perks and Recreation: Rethinking Benefits Schemes in 2022

Employee expectations were once relatively predictable. They reflected gradual shifts in the wider world. But since the global workforce was hit by the pandemic, new expectations have proliferated rapidly, becoming harder than ever for businesses to keep pace with.

In 2022, employees want more than a free breakfast or a dental plan. So, what should businesses offer them moving forward?

What changed?

Employees expect more freedom than they used to. Indeed, a recent study found that 96% of professionals working in the US said they needed flexibility, while only 47% felt they had it.

But flexible working doesn’t mean that office spaces are becoming redundant – far from it. In fact, having the option to go into the office to collaborate, network, and escape the same four walls is a huge selling point for many employees.

Businesses that assume workspaces are no longer required are set to see increased turnover, according to new analysis from Harvard Business Review. Employees move to roles offering value propositions that match their desires.

To meet the new challenges associated with attracting and retaining talent, employers should double down on the role of the office as a collaborative hub, while offering a range of meaningful benefits for employees that go beyond small “perks”.

A well-rounded benefits scheme is essential to attracting and retaining employees.

The 4 kinds of benefits employees expect

1. Fun

Happiness fuels energy, motivation, and passion. Happy employees are more productive by an average of 12% and, in some cases, 20% more than a control group according to a 2015 study. 

Employees want to feel satisfied in their roles and enjoy their lives outside of work. But businesses should also ensure the workplace includes its fair share of fun.

Though physical offices may not be used by every employee daily, spaces in which workforces can congregate are vital. These spaces should be viewed as inspiring arenas for relationship building and communal activities that boost employee satisfaction.

Employees are increasingly demanding fun from their day-to-day roles. Everyone is different, and businesses should look to create a programme that includes everything from Thursday-evening drinks and socials to arts and crafts sessions and away days that provide new experiences.

Getting enjoyment from work that goes beyond your role is crucial to employee productivity.

2. Culture

Beyond the excitement of work-related activities, employees want to feel like they work somewhere that values them. Plus, the vast majority of executives (94%) and employees (88%) believe a distinct corporate culture is important to business success, according to Forbes.

Employees are more likely to stay with their current employer when they believe they are valued, treated well, and able to enjoy their day-to-day. But with a May 2021 study finding that 29% of employees believe team spirit and working relationships have suffered from working remotely, more needs to be done proactively to instil this sense of culture.

Fostering work culture can be done in all sorts of ways. It could mean sending employees a grow-your-own sunflower kit on the infamous ‘Blue Monday’ or celebrating the successes of employees with rewards that go beyond financial recognition. It comes down to reminding employees that they matter.

3. Time

Perhaps the most valuable benefit you can give employees is time. Unreasonable time pressures can lead to employee burnout. This phenomenon is characterised by exhaustion, mental distance from one’s job, feelings of negativity, and reduced professional efficacy.

Having more hours to devote to family, friends, and other personal matters is the leading priority for job seekers today, LinkedIn data shows. The good news is offering this benefit isn’t rocket science.

Even small breaks throughout the day can help decrease stress and dissatisfaction, while increasing employee productivity and motivation. Flexible offices can give employees the space to spend time relaxing, as well as the ability to clock out at the end of the day.

Increasingly, we’re seeing more substantial gifts of time being given to employees too. It’s now commonplace to offer employees an extra paid day of on their birthday, or a day or two every year to volunteer for a cause that matters to them. FinTech bank Monzo made headlines recently for going further, offering employees a three-month paid sabbatical.

4. Boundaries

Setting boundaries that help to protect the delicate balance between work and life can be tough. Regardless of sector and seniority, many employees find themselves checking their emails first thing in the morning and last thing at night.

Worryingly, over 40% even work over their assigned hours when working remotely, while 29% don’t take any breaks at all. And with many businesses now employing hybrid working arrangements, it is incumbent on them to support workers in creating better boundaries.

Working flexibly from a business centre establishes a structure to the day which includes physically leaving work behind and going home to rest. Therefore, some businesses are opting for satellite offices that allow people to stay closer to home.

Employers can take an active role in supporting employee’s boundaries. This means providing workspaces that suit their needs and offering them the flexibility to shape a working day that works for them.

Businesses should help employees set boundaries – whatever that means for them.

From safeguarded lunch breaks and flexible offices to company-wide events in shared spaces, there are plenty of steps you can consider to ensure new and existing employees are taken care of.

In 2022, workplace benefits need to be thought of as more than a package of perks and incentives. A scheme should include all the building blocks to ensure employees can thrive, rooted in a workplace that suits their needs.