Fringe Benefits Employee retention & #NewPay: More than goodies?

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NewWork is in full swing, but does it look like new payment models? In fact, volunteer benefits from employers are booming just the New Economy. But you have the right to a real Bezah alternative.

Fringe Benefits Employee Engagement & #NewPay: More than Goodies? Fringe Benefits Employee Engagement & #NewPay: More than Goodies?

Here writes for you: Marco De Micheli is the publishing director of the PRAXIUM specialist publisher specialized in Human Resource Management in Zurich and author of the book. Profile

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Fringe benefits in NewWork - part of the employer branding strategy

Fringe benefits are gross salaries and salaries in kind. Especially in young, hip startups, they are often part of the personal marketing strategy. Just think of free food and drinks or company holidays with all the staff.

From this point of view, table tennis records are Fringe Benefits, because it is these Company in return often pay a little less. Therefore, fringe benefits often give rise to discussions, as they are often nothing more than some well-intentioned favors that should keep employees happy.

Payment model for a new work culture?

Or are fringe benefits also an effective means of motivation and employee loyalty, which are justified and fulfill their purpose? Are they perhaps more, a new payment model for a new working culture, which is increasingly concerned with social coexistence and self-realization, a social basic income covers the most necessary and therefore hard currencies play an increasingly minor role?

Because this topic is still rarely found in the public debate, CO: #NewPay Blog: What do we actually earn? and we will gladly follow this call with this post. Quite concretely, the question is: What about pay in the new world of work?

Disadvantages of fringe benefits

Fringe benefits are not so rare here. But in more detail, losing fringe benefits when they become a habit quickly become effective. A dependency can also quickly occur; they remain frustration, the consequence and well-intentioned goodies become, quickly to the disappointment. Generous fringe benefits can also lead to chair adhesives for which such benefits are more important than the performance for companies and jobs.

The main problem, however, is that fringe benefits rarely cause a demonstrable motivation or performance increase. However, they can be selected, targeted and skillful, but can still motivate and have positive effects.

Everything, just no watering can, please

All employees before Christmas an obligate book voucher, missed the effect. Fringe benefits should be tailored to the needs of employees.

The apprentice may consider a fitness subscription, older employee premium financing for occupational retirement, or mothers with children flexible working time models. The cafeteria system is suitable for this with a bouquet of different services for the most diverse needs and employee segments, which can be claimed individually.

Related to company culture and HR strategy

Fringe benefits should be an expression of corporate culture and personnel strategy, reflecting their values ​​and goals, and above all strengthening them. If this is the case, the culture and strategy of a company makes it more tangible and credible, which contributes to more authenticity and a clear profile, not only within the company, but also in employer branding.

For example, if a company focuses on the work-life balance, measures such as sabbaticals, birth allowances, extended maternity leave, additional holiday weeks and paternity leave are useful.

Communication with storytelling

Finge benefits should be regularly addressed and communicated. Why is a benefit set or a new one introduced, which strategy and goals are pursued, why one has decided for older employees for a particularly valuable Fringe Benefit and more.

Also useful are employee surveys, which ensure that one is oriented to the needs of employees. Stories about Fringe Benefits in employee magazines, some interesting or humorous stories on the benefit of Christmas celebrations and videostories on the career website contribute to the strengthening of the sustainability and emotional impact.

With fringe benefits in the heart of employees

Changing and target-group-related emotional fringe benefits, which also reach the families, children or life partners, for example, with emphasis on work-life balance, may have a particularly lasting effect as they go beyond the company and involve the life environment within and outside the company a great, often also social value.

The nursing time for employees with elderly or sick family members is an example of fringe benefits, which have a lasting effect with high appreciation.

On job and performance and not coupons it depends

In marketing, giveaways and goodies as new customer gifts were popular for a long time, until the question arose whether the product itself was no longer interesting enough for customers and one could only convince new subscribers only with a noble ballpoint pen, but no longer with the product ,

The same is true for Fringe Benefits. In the end, neither the new smartphone nor the preferential interest rates for mortgages are the focus, but the challenges and perspectives, the superiors relationship, the appreciation of the work and a good working environment.

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  1. Thomas Kujawa

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  2. Thomas Kujawa

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  3. Nadine Nobile

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  4. Nadine Nobile

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  5. Job college

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