Did you know that 75 percent of employees prefer increased benefits rather than a raise? If you’re someone who finds more value and motivation in things like employee development, tuition reimbursement and even wellness programs, these figures from the Employment Confidence Survey probably don’t come as a surprise. However, if you are someone principally driven by the promise of a salary increase, perhaps you haven’t fully explored how incentives can increase your motivation and engagement on the job.
Consider how you can use the following perks and benefits to drive production and improve your career:
According to a Glassdoor survey, health insurance was the No. 1 desired benefit at a company, as 40 percent of respondents indicated that it was more important than a pay raise. And contrary to popular belief, that figure doesn’t drop all that much among the millennial generation. A survey from Fit Small Business found that 34 percent of millennials view healthcare as the top priority when it comes to benefits. Less than 10 percent of the young workforce ranked office perks such as fitness classes and free food as the most important.
As Dawn Leijon, Executive in Residence at the Kogod School of Business at American University, told the source, benefits like health insurance can help drive commitment to a company. Research from the university confirmed that millennials crave the stability that traditional benefits can deliver, likely because of the shaky economy they grew up in.
That sense of security helps release unnecessary burdens in this part of your life, which can free up more energy to focus on important deadlines and initiatives at work. However, even if your company isn’t able to provide top notch benefits, there are other ways to feel driven at work. As Samantha Reynolds of A Plus Benefits told Fit Small Business, it’s not about out-of-the-box benefits and freebies.
“The appeal of ‘the next Facebook’ for millennials isn’t about the perks, it really is about experiencing growth with a company and contributing toward that growth,” she said.
Flexible hours and remote work
In the last decade, the perk of remote work has skyrocketed to the top of the benefits list for many companies, especially tech and startup organizations. If you’ve ever worked for a company that allowed several work-from-home days per work or negotiable hours, this is likely one perk you won’t want to give up. As one such company saw, remote work produced strong outcomes. Cloud solutions company ConnectSolutions conducted a Remote Collaborative Worker Survey that found 77 percent of employers noted higher productivity when working from home.
One third of respondents indicated that they were able to accomplish the same work in less time, while about one quarter reported increased work productivity in less time.
When executed properly, remote work can help you thrive in the workplace and even encourage motivation. By switching up your daily routine and altering hours to fit your needs, you may even be willing to work additional hours to accomplish even more, as 23 percent of ConnectSolutions employees reported.
Culture and lifestyle perks
When you feel as though you are a valued member of a team and a part of something bigger than yourself, you’re that much more likely to stay with a company. In many cases, even if the salary isn’t quite at the level you’d like it to be, it may just be that those free bagels on Fridays, the friendly company-wide competitions held each month and the annual summer party are what keep you coming back. Ultimately, it’s the sense of community that drives you to show up and do your best each day.
As Inc. explained, perks like catered lunches during busy season and wellness classes can go a long way. In addition to feeling like your efforts and hard work are being recognized and appreciated by management, you can also take into account the money you’re saving on lunch and fitness packages. When a company makes the effort to improve company culture and offer these kind of perks, you feel valued.
Where as salary will always be there, these additional benefits can help drive you to focus your energy, accomplish more in the same amount of time and feel appreciated, all of which continue to motivate you as your progress in your career.