Coming out of the pandemic, companies are offering standardized remote and hybrid work styles. However, the one-size-fits-all option doesn’t serve the individualistic needs of workers. A better approach would be to offer customized benefits that people want or need.
Workers expect a better work-life balance, the liberty to espouse their political and social views and the resources to help with their mental and emotional health. Tech workers grew accustomed to having amazing amenities, like free food and laundry services, and lush compensation packages that include stock options.
In an era characterized by the Great Resignation, quiet quitting and acting your wage, management acquiesced to workers’ demands. Since the job market was hot, companies understood that they must offer enhanced benefits and pay to attract, recruit and retain talent.
Although most companies yielded to the demands of their staff, workers still don’t seem to be happy. The recent trends of coasting, cyberloafing and rapidly switching jobs indicate that with all the kowtowing, it’s not enough.
Kelly Scheib, chief people officer at Crunchbase, and Alissa Schepisi, executive vice president and employee experience group head at Edelman Public Relations and Communications Services, are proponents of audacious customized and personalized employee benefits.
Kelly Scheib, Chief People Officer, Crunchbase
Scheib says that her mission at Crunchbase is to “offer employees an audaciously individualistic experience.” Every employee has unique needs and interests, so a prescriptive approach to the employee experience will never work. When it comes to how companies recognize and reward employees, they must deeply understand what motivates and drives each individual.
Scheib contends that organizations are often guilty of “throwing money at the problem.” For instance, an overworked employee who hasn’t seen their family all month gets a bonus to compliment their increase in hours. Instead, what they really need is a manager who will notice their position, acknowledge their hard work and sacrifice and know them deeply enough to understand that a true reward would be the gift of time and money for a trip to Disney World that their children have been dreaming about. That is more meaningful than a bonus check.
The chief people officer recommends that as employers design benefit programs, they must define which benefits are “table stakes” and which benefits allow for maximum flexibility to help employees decide what is best for them. Should an organization really be prescribing a fitness membership or would it be more impactful for an organization to acknowledge that employees are unique in their needs and interests, and wellness looks different for everyone?
Scheib said when speaking about her own organization, “We’re constantly exploring ways to help Crunchbase employees live their best lives, no matter their preferences. It all goes back to our emphasis on flexibility and desire to honor the widest possible range of employee needs.”
Alissa Schepisi, Executive Vice President And Employee Experience Group Head, Edelman Public Relations And Communications Services
As a senior member at Edelman, on behalf of clients, Schepisi leverages both art and science to improve the employee experience through communication, culture and change. She points out that every company offers an employee experience, but often by default. Company cultures that develop without intention are resistant to change and ill-equipped to handle the turbulent economic, political and social waters businesses must navigate. The employee-experience executive helps her clients thoughtfully architect a fulfilling, productive employee experience that benefits the business and the individuals who drive it forward.
Consumers are accustomed to a buying experience that is highly personalized and insights-driven. However, too few companies view recruitment and retention in this light.
Organizations that consistently win the war for talent apply consumer-grade marketing tools and tactics to their attraction and retention efforts. They identify their key talent segments, understand their motivations and frustrations on a deep level and architect an employee experience that meets the mutual needs of the employee and the organization. That includes offering benefits that meet the disparate expectations of various employee populations. A one-size-fits-all approach to benefits does not reflect the reality of a diverse, multi-generational workforce accustomed to data-driven, tailored consumer experiences.
Source: Forbes
