Businesses are replacing employee bonuses such as free office meals, stored refrigerators with mental health program subscriptions, home-based scholarships, and now even Peloton membership. Equipment training equipment company recently launched a corporate health plan that allows employers to provide subsidized access to Peloton digital fitness membership, its cycles, and treadmills.
The Covid-19 epidemic has forced many employers to rethink how they use bonuses to attract and reward their employees. Once upon a time, once-selling points became the norm overnight. The cellars full of those snacks were empty. But now the debate over employee bonuses reflects a lot of talk about how people are likely to work when the epidemic is over. Peloton’s announcement is, first of all, a sign that many employers think that some part-time job will stay here.
When people return to the office, the future of their daily work will certainly change. Employees have found that they can be more effective at home, they have learned to work on a flexible schedule. Even after Covid, there will still be a demand for health care, such as child care and adult care support. Covid has also accelerated digital transformation and technological advances such as video conferencing. This shift to digital is likely to remain as more companies leave individual work five days a week.
Down Hal, president of the Robert Half Recruitment Company, agrees. “There are things that change forever. “The situation with the remote-type hybrid model will be one of them,” he said. “I do not know that many companies are going to return to their offices from Monday to Friday. Only this movement will continue to change things. “
The first companies to join the Peloton program include electronics maker Samsung, online furniture retailer Wayfair, software giant SAP, and Accenture Interactive consulting firm և the British telecommunications company Sky. Whether or not such a digital fitness program would be an innovative, welcome start to the Covid-19 epidemic could evoke mixed feelings at a time when employers are trying to bring employees back to the office. For businesses that do not require employees to return full time, this program may be what they are looking for. About 43% of human resource managers said their company had added new benefits to the epidemic, according to a Robert Half survey of more than 1,000 human resource managers with at least 20 American companies. In terms of well-being, 49% of companies started offering health plans like Peloton.
Mental health is another key area as 45% of companies started offering mental health remedies or help during the epidemic, according to Robert Half. Faye says companies are raising leadership training to help employees manage their health and well-being. While these benefits are what many employees want, they are largely based on the mental health crisis caused by Covid. Despite this, Faye believes that employers responded quickly. “Companies have shown how fast they can move, how nimble they can be,” he said.
Faye goes on to say that companies may decide to involve individuals or organizations on the ground to help employees’ mental health and well-being. While many companies have outsourced access to mental health programs such as Calm և Talkspace because of the widespread stress and isolation caused by the epidemic, Faye says having a personal resource adds more personal touch than technology could ever. : Companies cite health resources as bonuses, but they are the result of an epidemic, something that many believe companies should have already offered pre-Covid.
Human Resources Management (SHRM) HR Consultant Yuleta Pringle also focuses on health. He believes that the benefits can change everything for employees. “Employees want to feel valued, they are part of the company,” says Pringle. “The benefits show that employees are actually investing.”
Of all the new benefits, the most common is paid or off-the-shelf office equipment, according to Robert Half, offered by 60% of companies. It is not a novelty to receive compensation for the purchase of office supplies, such as ink tonic և standing desks, is not new. These are just some of the goal setting shareware that you can use.
In addition to scholarships, Pringle sees employers increasing their paid leave, paid employee leave. About 22% of employers improve their vacation or PTO policies, according to a recent SHRM survey. Pringle says employers are more flexible on the days when employees go out to celebrate holidays.
Employers also addressed one of the biggest concerns of workers during the epidemic: child care and the elderly. Covid-19 addresses additional stress, especially for working parents and caregivers. Robert Half says 43% of employers have offered additional paid family leave and 37% have childcare assistance plans. While some companies have already offered paid family vacations before Covid, Faye says that is not the case at present.
Use of benefits to get employees back to the office
Employers began offering more benefits during the epidemic to keep employees engaged, but as the Covid-19 threat made many want employees to return to office, leaders were challenged to find out what incentives were really changing. Some companies, as Faye has seen, offer free meals, happy hours, and even live music to motivate employees to return to the office. Pringle is witnessing the same thing, saying that companies will still use the traditional bonuses – free snacks and Taco Tuesdays – to get people back to office. Benefits are meant to make employees more productive և want to stay longer at work, but are things like free snacks meaningful enough to keep people from jumping off a boat?
Benefits increase employee morale and productivity, show individuals that their company is committed to their well-being, says Faye. “Employers are really informing their employees that we care about you enough to invest resources to make things accessible,” he says. “Even if you are not in a place where you can use all of them because you may not need them, it is just a nice statement to know that your company really cares.”
When employees are satisfied, it shows their work: relationship. “There is a saying, ‘Happy employees are productive workers.’ “It usually tends to happen if people feel good, support their organization, they tend to be happy at work,” says Faye. “They do not focus their time and energy on protests, violence, they try to change things. Instead, they focus on doing their job and serving their customers. ” Faye says this also has a positive effect on talent retention and engagement.
Benefits also help in today’s competitive job market. Registration bonuses have become popular, and although a person is not hired just because they are offered a bonus, it is an indication that the company wants them to work for the organization, says Faye. Florida McDonald’s recently did this and offered և $ 50 to anyone who came in for an interview.
Because many people were still working from their kitchen tables during the epidemic, it is difficult for companies to differentiate themselves from the competition. Employers need to make sure they provide all the benefits offered during payroll, something Fain says they often forget to do. “People want to join a company that they think will support them, help them advance in their careers, grow,” says Faye.
The future of post-epidemic benefits
As the workforce adjusts to the new postmodern standard, bonuses will evolve. Pringle envisions a future where employees are prepared to work from home as often as possible, which has become commonplace. The SHRM survey shows that 52% of employed Americans would choose to work from home permanently if given the opportunity. At the urging of employers to return to the office, employees are interested in the cost of a paid vehicle.
Some workers were relocated during the epidemic, which led to longer trips. Those who have moved across the country are not sure if they will be required to go back or make regular office visits. And if so, will the organizations subsidize mobile expenses or pay for staff visits to the office?
“The cost of that transportation is something some employees are interested in, which can change a little bit when more people return to the office,” says Faye. “He is one of those people for whom we have to keep our eyes and ears open, because everything is moving forward.”