Employee Turnover And Retention Briefings Abstract: 38
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Perks that Work [Baltimore Sun] Saturday 07/24/04 3:21 PM
Job satisfaction may be at an all time low but not for many companies that have found a way to successfully incorporate perks into their workplace culture.
One example is Motek, Inc.. Employee turnover is low at this software company in California due in part to the unique benefits they offer their 20 person staff. Motek provides a lunch program where food is purchased from a different area restaurant each day for just $15.00 deducted from the employee's paycheck each week.
Motek also provides 5 weeks of paid vacation plus $5000 bonus each year that must be used in conjunction with three consecutive weeks of vacation. While these benefits might seem expensive, the company is rewarded with happy employees who have stayed with the company long term. The same programmers who wrote the code 13 years ago are still with the company today.
While some experts stress that perks are less important than interesting and challenging work, organizations are finding that benefits do make a difference in employee retention.
Some other examples:
Johns Hopkins University reimburses part of children of employees' college tuition for any college the child enrolls.
GMAC Insurance in Michigan offers a popular pet insurance program.
Service Net LLC, gives "fun money" that must be spent on something fun for the employee and his or her family.
Whole Foods Market in Baltimore rewards employees monthly based on increased sales and productivity in their department.
Starbucks Corporation's employees receive a free pound of coffee or box of tea each week.
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