The Best Incentives of February

The Best Incentives of February

Sticking at a job isn’t as simple as getting the best pay. If it was, then surely footballers, who seem to change club every summer, would be one-club stalwarts - happy to kick around just to pick up their six-figure salaries.

But what is it exactly that makes an employee stay-put? Whilst fulfilment in their role is important, incentives and employee-minded perks are fast-becoming central to staff retainment.

Consider the recent British Airways strikes: the airline threatened to cut the perks and bonuses of striking staff in response to Union-backed industrial action.

It’s a perfect example of how important incentives are to employees that their employer threatened to take them away in attempts to break the recent strikes.

Whilst it cannot be definitively stated which firms have the best non-salary incentives, we’ve collated a few of the best or most innovative examples.

Facebook

Placed second in the Glassdoor list for 2017 Best Places to Work, Facebook recently announced that it would extend bereavement leave, family care leave and paid family sick time.

Up to 20 days of bereavement leave can be taken for an immediate family member and up to ten days for an extended family member.

One anonymous employee review on Glassdoor exclaimed: “I've been blown away by how incredible this company is. From its openness to its diversity, Facebook has truly surpassed all tech companies in terms of culture, perks, and employee lifestyle.”

Sheryl Sandberg, COO of Facebook, said: “People should be able both to work and be there for their families. No one should face this trade-off. I hope more companies will join us and others making similar moves, because America’s families deserve support.”

Surprisingly, research from MetLife Employee Benefits found that half of HR departments do not have agreed policies in place for employees facing bereavement.

BrewDog

The fast-growing craft beer company, Brewdog, offers UK and US employees an additional week of leave  - if they are welcoming a new dog or puppy into their life.

The ‘paw-ternity’ leave programme allows staff to take time off to help new canine chums become accustomed to their new homes.

James Watt, Co-Founder of Brewdog, said: “We always want to raise the bar when it comes to offering our staff the best possible benefits; at BrewDog, we care about two things above all else. People and beer. We also just really really like dogs.”

The Aberdeenshire-founded brewers already let staff bring their pooches to work – as long as they are well behaved.

One Glassdoor review called the brewers “Amaze-balls”, adding: “BrewDog honestly care about their people, which makes them an amazing company to work for. Benefits are impressive (enhanced paternity policies, puppy leave, unicorn fund) and they are always willing to think outside the box.”

PharmaLogics Recruiting

Megan Driscoll, CEO of Pharmalogics Recruiting, increased the base salary of her recruiters to £40,000 a year. This does not include commissions which could inflate pay packets to over £70,000.

Not only did this allow Pharmalogics' revenues to rise - but staff turnover decreased drastically.

Driscoll also brought in a personal trainer for her staff, holds in-office yoga, puts on staff food and has a gratefulness board, allowing staff to commerate their colleageues positive actions.

One employee wrote on Glassdoor: “[It] just keeps getting better. Excellent company culture (supportive environment, great people and perks like yoga class, meditation class, 2 workout classes a week, lots of snacks and drinks (including a beer fridge!) [sic]”

Factory Boss, Yoshan, China

Most staff incentives aren’t usually handed over in physical money. A bonus, for instance, might be added onto your paycheck.

However, one factory boss, from Foshan, China, decided differently - showering his employees with red 100 yuan notes as a Chinese New Year thank you.

The excited staff scrambled under the shower of extra money, snatching at the notes.

The event was caught on video:

HR Grapevine recently reported on the 20 best firms for staff perks. Click here to find out more.

Most Read

Guide to Employee Benefits

Guide to Employee Benefits 2015

Get ahead of the game by registering now

* By registering you agree that you have read and agree to our Terms and Conditions and that Executive Grapevine International Ltd and its partners may contact you regarding relevant content and products.

Top Features

HR Grapevine Magazine Latest Issue

Magazine Features

Read More