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As someone who works with executives on cultivating a healthy organizational culture, I see value as the common thread.While amenities like a gourmet snack station or onsite services like dry cleaning might catch an applicant’s attention, MetLife’s most recentreminds us that salary, workplace culture, and benefits like health insurance and paid leave are the top priorities for employees. Additional perks should complement but not replace these core benefits.
Are benefits like unlimited vacations and paid sabbaticals worth the investment? When it comes to your top performers, Wharton’s Iwan Barankay says yes. Typically, the top one percent of a company generates 15% to 20% of value-added, he says, “so anything they can do to attract and retain these people is fair game.”Perks are most effective when they align with culture, says Wharton’s Sigal Barsade. A ping-pong table at a company not known for fun might come across as an empty gesture.
One way business leaders can demonstrate that commitment is by investing in their employees’ personal and professional development through training, mentoring, and coaching. At a recent Wharton MBA event, Vice Dean, Peggy Bishop Lane shared that the school provides executive coaching to their MBA students to set them up for success as future leaders. Forward-looking companies will increasingly view such one-on-one support as an integral part of their HR policy.
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