The Value of Workplace Perks

While there may have been a time when workplace perks and staff benefits were a hot topic for current staff and prospective employees, new research conducted by CV-Library reveals that today’s workers would rather have the money. The UK’s largest job site conducted its research amongst over 2,400 of Britain’s professionals, and unveiled that a staggering 84.5% of workers would rather receive a pay rise or a bonus, instead of workplace perks. This comes just weeks after Christmas, in a period where money is notoriously tight.

It’s no secret that 2016 is set to be a year where employers will have to fight harder than ever to secure the top talent; these latest revelations may come as a blow to HR professionals, who will likely have to reconsider their recruitment strategies, and re-evaluate how current employees are incentivised and rewarded.

If presented effectively, workplace perks can have a real impact on employee happiness, which is a vital part of keeping a business’ retention rates high. However, when CV-Library asked its candidates about the benefits they receive at work, only 24.3% said they were provided with workplace perks by their employer. Worse still, almost half (48%) of those who do benefit from perks at work rated them as only ‘OK’, while a further 24% admitted that they would actually rather see the money.