In today’s business landscape, companies are fighting for top talent. Skill shortages mean that it’s going to get harder and harder to find team members who perform well. Since it’s likely that a small percentage of your team are top performers who contribute the most, it becomes increasingly vital to retain and upskill your best employees. You can do this by using work life balance perks to incentivize employees and decrease turnover.
3 ways you can retain employees using work life balance perks
In-office perks could include anything from a company break room to a gym, or even an open bar on Fridays. Providing ways for your team to unwind and relax together is great for teamwork, builds camaraderie, and helps them enjoy their time at the office outside of work. These in-office perks are great for team members who keep long hours due to client schedules, since they can take breaks between meetings or tasks to relax and focus on themselves for a while.
Remote work is on the rise as the gig economy takes off around the world, and for good reason. Giving your employees days to work from home can cut your turnover in half, and drive productivity. A Stanford study showed that productivity shot up by 17 percent and employees are half as likely to leave the company when they can work from home. Consider allowing your team to work from home 1 day a week, so they can avoid long commutes and spend more time with their family, pets, and in the comfort of their own home while delivering quality work.
Flexible hours allow your team members to take control of their own schedules and manage their work life balance within certain parameters. As long as your employees continue to deliver on their work, allowing them to do it at the time that best suits them will give you a leg ahead of your competition. Not only will your employees get to structure their workday around peak productivity hours, they’ll be able to avoid rush hour!
Using work life balance perks is a great way to keep your top performers and attract qualified candidates to your business. Not only is it more important to retain employees in the skill shortage, it’s also cheaper to keep great employees than to hire new ones. Use these ideas to keep your teams in top form!