Recruiting and retention go back to the future
Thursday, November 1st, 2007Remember the bubble years when labor was tight, startups appeared like mushrooms on a rainy day, benefits multiplied like rabbits and companies advertised them with all the verve and pizzazz normally saved for their paying customers? Well, to some extent they’re back.
Labor is once again tight—driven by bedrock demographics as opposed to fairy dust—and companies want to retain their people. Although still far behind Europe, Corporate America is finally realizing that offering their employees benefits that lower everyday living stress will go a long way to increasing productivity. Long the poster child for excessive perks, Goggle’s success has done much to prove that there’s a giant payoff to be had from happy employees.
These workplaces are part of a growing number that are embellishing their benefits packages with “concierge services” _ everything from flower deliveries and car detailing to restaurant reservations and clothes alterations.
Perhaps no company pampers its employees as much as Internet search leader Google Inc. The Mountain View, California-based company offers a diverse menu of perquisites that include three free meals a day, plus other on-site conveniences like car washes, oil changes, massages, haircuts, dry cleaning, child care and medical care. The employees have to pay for some services while Google subsidizes others.
It’s not just tech and consulting companies doing it, either.
“It helps the employee not to have to burn up all their personal time doing all these chores,” said Wayne Wallace, director of the Career Resource Center at the University of Florida. And while Wallace doesn’t dispute that many people wouldn’t mind a bump in their paycheck, “it isn’t all about the money,” he said. “The extras are nice.”
Erin Dunn, corporate services director for General Mills, said of the cereal company’s largesse for staff at its Minneapolis headquarters: “Anything we can do to make life easier (for employees) is something we’re interested in doing.”
Helping our people isn’t rocket science, it doesn’t have to be expensive and in bootstrapped companies can even be used as a bonus. For example
- An engineering manager who each week takes his most productive employee’s car to the carwash, with the productivity voted on by the entire organization.
- The CEO of 15-person company gives four hours of babysitting away each week for the best customer service improvement suggestion. (Winners without children use the value on something else.)
If you want to do something similar, but aren’t sure what, start by asking your people what they’d really like to have, be honest about the budget and go from there.
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