Perks, Employee Relations and Talent Management.
The employee perks are a sort of reward offered by the company. From country-to-country region to region and carrier to carrier these may differ. These are the benefits additions to the package you have been entitled to.
(America, 2015)
Perks
often can be offered without spending money. As an example, a simply written
thank you note will boost someone’s working mind positively.
Work
from home, paid vacations, more Tea breaks, opportunities to socialize,
allowing pets for the working environments, maternity and childcare packages,
and health insurance can be offered and many more can be offered as employee
perks.
Employee
perks will definitely encourage your employee towards improved performance, and improved performance will also move employee KPIs upward. As a result, employee
retention will become sustainable, and lower employee turnover will be the
final result.
Further,
a relaxed mind allows for improving individual performance. Hence, both the
employee and the employer may experience a win-win situation. In fact, this is
scientifically proven in many types of research.
(www.bing.com, n.d.)
Fewer
working hours allow for doing the job by utilizing limited resources. Overtime
is a waste of money and wastage of time which can be utilized to look after
family concerns. Hence the happiness of the employees improves significantly.
I
sincerely invite you all to identify Parkinson’s Law and how to optimize your
time management in your work life.
If
we can deploy modern, correct HR principles, employers may not need to
bargain with trade unions. Offering correct benefits promptly, no one
has to complain, and no worries for both employees and also for employers.
Perks
will help workers to do the job without breaking the bank.
Friends,
I seek your prudent guidance through your valuable comments.
Thank
You.
Bing. (n.d.). Thank%20You. [online] Available at: https://www.bing.com/images/search?q=Thank%20You&form=IQFRML&first=1[Accessed 10 Apr. 2023
www.bing.com. (n.d.). Job Perks - Bing video. [online] Available at: https://www.bing.com/videos/search?q=Job+Perks&&view=detail&mid=4CBA9200452FEBCE5E1D4CBA9200452FEBCE5E1D&&FORM=VRDGAR&ru=%2Fvideos%2Fsearch%3Fq%3DJob%2BPerks%26FORM%3DVRMHRS [Accessed 19 Apr. 2023].
America, C. (2015). Job perks become new battleground for top US talent. YouTube. Available at: https://www.youtube.com/watch?v=wWRZ6Cc90l0 [Accessed 19 Apr. 2023].
Rewards provide an opportunity to not only promote productivity but do so in a way that aligns with your company's values
ReplyDeleteEvery organizations provides benefits to the employee. Are they enough? Is it possible to expected to efficiency?please exp
DeleteThe answer to this question depends on the type of benefits offered and the organizational needs. Generally speaking, providing sufficient benefits to the employee can lead to increased productivity and efficiency within an organization. Benefits, such as competitive salaries and job security, can motivate employees to strive for top performance. Additionally, offering generous health insurance and other perks, such as vacation and sick leave, can create good morale and a better work/life balance which can also contribute to greater efficiency in the workplace. Ultimately, it is up to the organization to determine what types of benefits are necessary and effective to meet its goals.
DeleteAgreed. In my opinion giving perks to the employees such as you said the company can earn many more profit since the employees will do their best for the company
ReplyDeleteSometimes it can seen as carrot and stick theory, yet as humans people always like to be praised what they have done and achieved. It can be either monetary or moral booster. A happy motivated staff member shall always be an asset to any company. fringe benefits, health insurance, performance bonuses are truly important to arouse the hidden talents of staff which finally result in achieving the common goal of succeeding.
ReplyDeleteThanks for the comment ... please comment with your name...thanks again.
DeleteThanks for the comment ... please comment with your name...thanks again.
Delete
ReplyDeleteDear Prageeth
Let me add some more which could be offered ...
Professional development opportunities: Providing training and development opportunities for employees can improve their skills, and it also helps the institution to retain top talent.
Wellness programs: Offering wellness programs such as fitness classes, healthy snacks in the break room, and mental health support can help employees maintain a healthy lifestyle, which can lead to increased productivity and engagement.
Volunteer programs: Encouraging employees to participate in volunteer programs and offering paid time off for volunteering can help build a strong sense of community within the bank and demonstrate the institution's commitment to social responsibility.
Recognition and rewards programs: Implementing a recognition and rewards program that acknowledges employee achievements and contributions can help motivate and retain employees without significant cost to the institution.
Udaya
Thanks.
DeleteYes ! So true,,,,,
ReplyDeleteAs you said “ Employee perks will definitely encourage your employee towards improved performance
That’s 100% true.
As per the current country situation this has become a major reason for mainly when considering about the employee turnover.
Nowadays, the young generation is concerned about the job satisfaction and the happiness on the workplace.
That’s why I said I’m totally agreeing with you since Perks will help workers to do the job without breaking the bank.
Thanks, Anjanika.
DeleteEmployee recognition. When employees feel appreciated, they do better work. They feel motivated to work. Recognition can take many forms.
ReplyDeleteLakshika Herath
Thanks Lakahi.
DeleteInteresting Topic
ReplyDeleteSimple note of appreciation can do a miracle. People need to be recognize. With these perks the employee retention ratio will be increase and turnover ratio will be decreased.
ReplyDeleteThanks Mam.
DeleteThe issues that would resonate to an employee in terms of work life balance while comparing a first world western global economy in this case the UK to a country like Sri Lanka still finding its feet in the employee satisfaction factor cannot be deemed as on par .However certain nuances and nit picking lesser known benefits which are achievable is something to contend about .For example having child care benefits with struggling families to allocate days where they can dedicate emergency appointments for thier offsprings which can hamper the time off they already have ,so allocating fixed days off in a year for emergencies in child care is essential as it is in the Uk ,Another very important factor is the bonus schemes which should not be just granted to targeted employees who sell but also for employees who bring in the business with excellent customer services and rapports with thier clients as these do lead to high incentives to the company in the bigger picture but the ground zero referrals are ignored
ReplyDeleteAgreed, there are key differences between the work-life balance in a first-world western global economy such as the UK, and a developing economy like Sri Lanka. In Sri Lanka, it is important to consider child care benefits, bonus schemes, and other incentives that target non-sales employees. These should offer meaningful rewards to those who bring in business, provide excellent customer service and build strong relationships with their clients. Additionally, employers should consider offering flexible working arrangements, such as remote or part-time options, to employees who may need it. Offering these benefits can help boost employee morale, engagement and loyalty, while also helping to attract and retain top talent.
DeleteHow can a company balance the cost of offering employee perks with the potential benefits of improved employee retention and business performance? Are there certain employee perks that are more cost-effective than others?
ReplyDeleteMost attractive term i found in your article is "a simply written thank you note will boost someone’s working mind positively". It will give a reinforcement to employee for his enthusiastic performances.
Delete