#5 Perks that Could Retain Employees
From gifting expensive cars to sponsoring international trips - employers are raising the bar to attract and retain new talents
After setting up a company, a founder’s main concern is to increase the productivity of the workforce and maintain it.
As professionals spend a major part of the day in office, so they always want and try to enjoy the time and the work as much as they can. And perks offered by companies motivate staff to give their best.
From gifting expensive cars to sponsoring international trips — employers are raising the bar to attract and retain new talents.
In fact, global companies like Airbnb and Salesforce allow their employees to take a few days off and engage in voluntary services for the society sans a pay-cut. Firms like IKEA and Pinterest are showering benefits for new parents, helping them maintain work-life balance.
Entrepreneur India lists some unique ideas that entrepreneurs can implement to retain their employees.
Cars and Flats to Employees
Surat-based diamond tycoon Savji Dholakia is large-hearted when it comes to perking up his employees’ morale with annual bonuses. He
For past three years, Dholakia has been rewarding his employees with cars and flats for meeting company targets.
Last Diwali, Dholakia gave away 1,260 cars, 400 flats and pieces of diamond jewelry to selected employees. He spent $8 million (INR 50 crore) last year on annual bonus.
“Our aim is to provide every employee with a house and a car in the next five years. So we have decided to gift cars, homes and also jewelery to employees,” said Dholakia, owner of Hare Krishna Exports once in a media interview.
No Official Work Hours
What 9 to 5? No such work schedule exists in Bengaluru-based SAP Labs. Entry and exit timing is not what the bosses there are concerned about. Their focus is always on the amount of work done, employees’ quality and productivity.
SAP also allows employees to work from home once a week or even more than that based on the feedback of reporting managers.
Benefits for Dependents
Apart from free food and other perks, Google India provides a benefit that hardly any private company can match up to. The spouse or parents of a deceased Google India employee get 50% of his/her salary for 10 years. This unique sort of insurance cover actually helps reduce employees’ worries and they can concentrate on their work with a free mind.
Yahoo India office has an entertainment corner where employees often step in to relax in between hectic work. It has fitness centres with equipment for cardio exercises, kickboxing, pilates, and golf. The company always looks after employee comfort and has ergonomic support chairs, healthy snacks and drinks on every floor.
Allows Women to Take Career BreaksFintech firm Intuit Technology always tries to promote gender equality in its working culture. The employees hold discussion on LGBT issues regularly and religiously. It also allows women technologists to take career breaks and even encourages employees to work on new projects outside office.
A firm believer of hard work and patience. Love to cover stories that hold a potential to change the momentum of business world. Currently, a part of all-women web team of Entrepreneur’s Asia Pacific edition to jig the wheel of business journalism!