How the right incentives will help staff retention

Major firms like Google have been known to go the extra mile to keep their employees satisfied by providing napping dens, massages and free childcare. Netflix seem to be experts at understanding their staff’s desires too, offering unlimited holidays and free pet insurance.

While the occasional free lunch served up by some companies is a step in the right direction, employers are not doing enough to truly incentivise employees, according to research by Direct365.

61% of British workers said they were unhappy with the lack of incentives given by their employers. Head of digital at Direct365, Phil Turner advises employers to think about what would really make their staff smile.

He said: “Many companies tend to behave like ostriches when dealing with employee benefits. They stick their heads in the sand and believe that extreme benefits can make up for other shortcomings.”

Mr Turner urges businesses to think about what their employees might need and to ask the staff what would benefit them most. He said companies will find the same incentives cropping up time and time again.

Nearly half of workers said that flexible working hours with the option to work from home would contribute to their overall job satisfaction, whereas 27% said a company car would be much more valued as would help with the commute to work.

Other employees were more in favour of gym memberships and childcare vouchers. This type of incentive shows how important family life is to selected members of staff. 

Mr Turner said: “The benefits of implementing employee incentives cannot be overlooked. By focusing more on staff and showing gratitude where it is deserved, employers could be rewarded themselves with an increase in productivity, reduced absences, improved customer service and, most importantly, a reduction in the number of staff looking to move jobs.”

Top incentives chosen by staff: