Benefits – manufacture and expiry date...

Nowadays, with a true war being waged for the talents on a numerous markets, the compensation and benefits policy (comp&ben policy) often represents a training ground where the employers are testing their skills of attracting and retaining said talents. Their success depends on numerous factors, and some of them, let us say - the more important ones, shall be discussed here...

Let us start from the beginning...

At what moment does a company decide to provide some benefits to its employees? What for, to whom, under which conditions, over which period of time? And what does it expect in return? Also, is everyone aware of the model, or to say the motor, which drives this story? It often happens that there is a lack of clear communication, and by extension no understanding between the company and employees with regard to the question who and what, in effect, provides i.e. receives benefits in such situations, and what we should do in order to maintain such nice and useful mutual relations for as long as possible...

In order to avoid at this point the analysis of details and similar topics such as the difference (a fundamental, not only the obvious one) between the tangible and intangible benefits, their relations, as well as the trends in current benefits that have been changing almost on an annual level, I shall try to make some kind of overall summary of the subject...

So, if the idea is that the employer offers to its people something they need, which is interesting, useful, something that would be taking their time, money, nerves... In case that, though, they are to provide on their own something to make them satisfied, even grateful, the most simple solutions is to: ask people what they want and what they need. It does not mean that you will succeed in providing them with the moon and making their every wish come true, but offer them the options, define the possibilities, and see what people would want within a given framework.

You will see already in that first step– not everyone wants the same...

...which is rather expected and humane. A small company (with less than 20 employees) might even succeed in easily taking the individual approach with regard to this topic, but what is the employer with 1000+ employees  supposed to do... The whole point is to do everything in your power to offer the people what they want and what they need, however difficult and impractical that might look. You do not need to give everything to everyone at once, it is better to go step by step, one thing at a time, one team at a time, or one group at a time, but do your best to offer a personal approach. At least leave the impression that the company provides something to its employee knowing that it really means something to him/her...

Nowadays there are the platforms as well that can help you in doing that, combining the wide array of benefits where the employees shall be able to choose those interesting to them, and you shall be in the position to define the rules of the game.

Communicate

Also, one very important thing – ensure a clear and transparent communication with your employees about the functioning of the benefit system. Explain to them the principles upon which you have founded the system, whether it is an unlimited possibility of „everything to everyone”, or that you offer selectively some benefits to certain employee categories – keep them informed on this. Providing a possibility to the people to know what is being offered, what they can chose and to what extent, leaves a fair part of the final outcome in their hands, which should be a good feeling...

Unfortunately, as times goes by, some things often begin to be taken for granted, so something one considered as a benefit until yesterday, now represents the minimum of expectation ... Whether it’s because all companies are offering it at the moment, so it has become a standard of sorts, or I have been enjoying that benefit for so long that I grew completely accustomed to it and started to take it for granted, or the employer has never even presented it as a benefit, so I consider the coffee, beverages and a refrigerator with food as a „must have” from day one... Also, a reversed scenario is happening as well – until yesterday there were ten people in the company, so there was place for each of us to park in the parking lot, and now there are fifty people in the company and, even though we moved to a bigger office space, we did not manage to secure parking spaces for everyone. So, what was being taken for granted until yesterday shall now become a benefit for a certain number of employees or for all the employees... Based on this example – always think hard what kind of message you send by giving or not giving a certain benefit, to whom and when...

And finally, of course, the most important: benefits are benefits, no more no less.

They cannot compensate for a quality and interesting work content, inspiring leader, planned career development in the company, satisfaction of a successfully completed task, great and cohesive team or laughter echoing the entire office... They are important, but still not magical.