Expecting Champagne Employees with Beer Payroll and Benefits
Last week on LinkedIn, there was an article shared about a company that was giving each employee $2000 dollars a year to spend on a vacation. This is the progressive employee-first feel good shit that gives me hope for corporate America. I commented on the post
"Love this. I wish more companies did things like this for their people".
There was this reply to my comment:
"They do, it's called salaries".
This really got me thinking. People see these new-age approaches to employee benefits in catchy headlines, but is it really explained why these programs are so impactful for your workforce and overall growth?
Whats the WIIFM for an employer to invest more of their bottom line back into their workforce?
Sending the right message and culture. The employer is ENCOURAGING their employees to go on vacation. In some companies, you may get guilted or shamed for taking time off. Hell, at a previous company I was told it would be unacceptable to take two weeks off for the birth of my daughter (hello, FMLA. And guess who beat his quota that month?). There is pressure to be a good worker bee, feed the hive, and not feed your soul. Employees will burn out. Employees need something on the horizon to look forward to. When employees have time to refresh or be inspired, they have time to come back with a renewed sense of self and what they can bring to their team.
Wages are stagnant. Cost of living in virtually all major cities is on the rise. Making a vacation work when there is a mortgage, car payments, insurance, daycare, etc isn't always do-able. Having dedicated funds earmarked for getting out of the office and recharging the batteries can be the make or break for some families to get away. This logic is straight out of the educational reimbursement playbook.
Invest in me so I invest in you.
Low cost travel rates. If I'm that employer, I want my money to go as far as possible. I'm going to work with my corporate travel booking agency to assist employees in using their funds, ensuring the employees get the best rates on airfare and lodging.
You become a sought-after firm for potential employees. Look at the most popular places to work. They may not always have the highest salaries, but they have perks that offset whatever that wage delta may be. Gym reimbursements, paid paternity/maternity leave, technology reimbursements, MacBook Pro's still in the cellophane wrapper waiting at your cubicle on the first day. These are all things to entice the best of the best to be employed at your company.
So to the company offering this perk to their employees: I applaud you for thinking outside the box and investing in your employees health and wealth.
Talent goes where talent is appreciated.