The 3 Workplace Perks That Matter in A Remote World
Not to go all “back in my day” on everyone, but lately I’ve been thinking about the concept of work “perks” and what they used to look like. Particularly for folks like me who started working in tech startups 10+ years ago...
Casual attire
Food, drinks, and snacks
Flexible work from home
Ping pong tables, etc.
When I look back, it's crystal clear all of those "perks" were really about the office experience; employers making it more fun to be at work.
Today, as we watch the modern concept of the “office” disappear—so too do all the connected work perks of the past. Being at work doesn't mean what it used to. So the question becomes...
How do you attract and keep talented people, when place-based perks no longer exist?
In a world where, even in the face of recession fears, people continue to quit their jobs at historic rates, what are you doing to ensure your current employees stay happy? And how will you attract those talented folks that are quitting those jobs? In short—in an increasingly remote or hybrid work culture...
...why does someone want to work for you?
When they can wear what they please, work from where they please, and eat and drink what they please from their own fridge?
If you think being a remote company is enough of a perk to attract and retain talent, you’ll be sorely disappointed. For many, remote-first work is simply the new baseline.
Nearly 60% of the American workforce worked remotely last year, and more and more companies are announcing their move to remote, optional, or hybrid workforces every month. If major companies like Slack, Zillow, HubSpot, Atlassian, Pinterest, and Indeed are embracing remote work, maybe they know something about retaining their employees.
Personally, as more friends and past team members have taken on new opportunities in the past three years, and more generally the preference for some version of remote work has become overwhelming nationwide, it’s clear that there are three new “perks” that are taking precedence over any other in consideration of new work: compensation, opportunity, and culture.
Compensation - Not just salary (but yes, also definitely salary). The comprehensive package of financial, insurance, retirement, stock, and time off benefits offered to your employees in compensation for their work needs to at a minimum match, and at a maximum stand out from other opportunities they’re considering. People work for money after all, and if you aren't compensating your employees for their time in a competitive way, someone else will.
Opportunity - Is your company crystal clear on the opportunity in front of you? Are you making a difference? Do you communicate it well to prospective employees, in a way that’s exciting an engaging? If you (and your employees) can’t clearly, passionately, and succinctly explain the problem your company is solving and why it truly matters, you’ll lose quality talent to the companies that can.
Culture - It’s a thing you can’t fake no matter how hard you try. And it’s harder than ever to build in a remote-first environment. But it’s all the more crucially important. Are your managers people that other people want to work for? Do your employees feel motivated and appreciated? Are they provided with all the tools, resources, team members, and support they need to be successful? Are there clear boundaries and respect for people’s time and family life? If not (and if you can’t prove it), quality talent will seek out a culture that buoy’s them, instead of one that weighs them down.
Like it or not, these are the new perks. Not pizza. Not beer. Not ping pong.
Compensation, opportunity, and culture.
If your business isn’t spending time on nailing each of these three things, and consistently leveling them up, you’ll be left in the dust by companies that are taking advantage of this seismic shift in how human beings work, and what they want out of both work and life.
And while it may feel overwhelming to invest in these three areas, with studies saying businesses save an average of $22,000 per year per remote employee, there's unfortunately no room for excuses.
The office and all related perks as we knew it are now gone—but taking care of your team is a balancing act that lasts forever. So embrace the new perks.
Compensate people appropriately.
Illustrate your opportunity.
And create a culture people love.
Or risk losing team members to the next company that will.
