Many organisations are testing several new strategies to make employees happier and retain their best talents by providing a wider range of perks and
Many organisations are testing several new strategies to make employees happier and retain their best talents by providing a wider range of perks and improving their work-life balance. As younger generations move into the workplace, businesses are also finding it much tougher to earn employee loyalty. If you are looking to improve and want tangible evidence that the workplace affects productivity, you may be interested in the latest survey undertaken by ReportLinker.
Key findings of the survey show that 87% of employees who are more involved in decision-making are also more likely to say they are committed to their employers. When ranking their different perks, the ones voted as “most essential” are: Telecommuting, followed by parental leave, access to free snacks, gym memberships and nap pods or relaxing areas.
Employees not loyal
Millennials will make up nearly half of the American workforce by 2020 and there is an intense pressure on businesses to find new ways to attract and retain young talent but interestingly, this isn’t an unfounded fear – according to the study, only 40% somewhat agree that they’re highly committed to their organization, compared to 66% of older workers who strongly agree.
Employees want flex and challenges
Employees also are more likely to stick with their employer if they are offered opportunities to take on new professional challenges. 83% of respondents with this kind of flexibility say they’re more likely to stay with the organization. Not surprisingly, given their desire to be fully engaged and challenged, employees also want to work for a company that offers opportunities to be innovative and creative. Seventy-nine percent of respondents to the ReportLinker survey say they believe their employer encourages creativity and innovation. This, in turn, makes them more loyal: 78% of these employees say they’re committed to their employer.
The working week has changed
The study also shows some changes in working time, with 76% saying they work more than 36 hours a week. Men are more likely to put in more hours on the job than women, with 55% saying they worked more than 40 hours a week. By contrast, women are more likely to work 36-40 hours per week in order to balance their work and family life.
Yet, there are signs that younger workers might be less likely to see the value in putting in longer hours. After all, they watched their parents and grandparents put in long hours with extended time away from family. This may be one of the reasons they switch employers more often and why there’s more demand today for perks such as telecommuting and flexible working hours.
The whole report is available at: http://www.reportlinker.com/insight/office-perks.html and is well worth a read!