Companies brag about their perks. Bigger is better. Fewer rules means happier employees. Or so we’re led to believe.
But what about the impact of the investment?
Is the ping-pong table a reason people are signing their offer letters? Is the new renovation bringing the team more joy at work? Is the beer keg inspiring creativity and productivity?
We like perks. But we love perks that can show us a return on the investment. Because if you’ve ever thrown a happy hour party, you know very well – perks can be expensive. Without a purpose or a plan, doing something because Google did it first isn’t a recipe for success.
1. First, get granular about the result(s) you want to see from the perks you implement?
Decrease turnover by 50%. Increase productivity by 30%. See perk participation at 100%.
One company credits its focus on lifestyle perks, specifically its Sifted lunch program, for its ability to pay at the 50th percentile in salaries and still attract and retain the best talent in the market. For this tech brand, they needed their lunch program to allow them to implement a compensation plan that was sustainable, while keeping employee engagement at an all-time high. What could your brand accomplish if your culture was this visible?
2. Second, seek alignment.
Coordinating team outings that are enjoyable for everyone can be tough (not everyone wants to go-cart or paint pottery). Cocktail hours are fun but at 6 o’clock haven’t we all spent too much time together? Workout allowances are appreciated but they push people away from the office, rather than together. The mistake most make is assuming that more time, more money and a bigger “wow-factor” directly correlate with the success of a perk.
But what if it’s actually more simple? What if there’s a perk that doesn’t require time outside the office, more money or a catchy name?
So that’s why we offer lunch: because it’s the perk everyone loves. It’s the perk everyone needs. It’s the perk that gets 100% participation. You’re nourishing your team physically, emotionally and mentally. And while it’s nice to know the intangibles of taking care of your team, here are some cold hard facts:
- With a Sifted lunch program, you can save $18k in lost productivity per employee, per year. By taking lunch in-house, you’re boosting work performance. For a company of 50, that’s almost $1M a year in productivity gains.
- Your wellness program just skyrocketed. In a world where 95% of Millennials care deeply about their health, this matters. Lunch can be the most difficult meal to eat healthy. It takes mindfulness and time to prepare something in advance. And typically the most convenient $last-minute options aren’t quite so health-friendly.
Focusing your wellness program on lunch makes the most logical sense. It’s the one meal a day employees are definitely eating at work. By bringing in a lunch that’s adventurous, colorful and full of whole foods (Eventbrite consumed 35,000 spinach leaves last year), you’re influencing good habits that impact performance, satisfaction and overall stability.
- You’ve picked a perk that is 100% tax deductible. With a Sifted lunch program, you’ll see a return on your investment sooner rather than later.
Knowing “why” you’re implementing perks at your company is just as important as the “how.” Whether it be to build community, show appreciation, promote wellness or eliminate stress amongst your staff, you can get this with Sifted. Along the way, we’ll remind you of the returns you’re recognizing – including financial ones. We’re in the business of shaping the kind of loyalty that keeps people always growing, learning and seeing the significance of their role in and out of the office.