Economics of Workplace Perks

Visaya Startup Blog

Economics of Workplace Perks

Earlier this week the Visaya Team signed up for gym memberships! While running on the treadmill, I started thinking about the “economics of workplace perks” and their tangible vs perceived importance.

In a quick google search, you will find article after article telling you that job perks will attract millennial applicants. As a millennial, I really want to set the record straight here.

In a management course I took in college, we talked for an entire class period about 90s era google. The free food, gyms, massages, nap pods, health checkups, haircuts…. Ludicrous sounding stuff to someone who (at the time) hadn’t held a job that didn’t require you to wear an apron or a name tag.

At Google, there is an expectation to work incredibly hard and in exchange google will try to make everything else as easy as possible. Now 20 years later many startups and established companies are rolling out the perks.

So are these perks really how you attract a millennial?

In my opinion, millennials are more inclined to pick a company that has a culture that cares about their ideas. Another are companies that care about their employees health as humans. As a byproduct of this type of culture these companies are the ones that are more likely to have perks.

As Jason Cohen CTO and founder of WP Engine more eloquently put it,

“the intangible benefits are often the most important. The best tech talent can always walk across the street and earn 15% more with free lunches and happy hours. So you have to build an environment with a transparent, supportive culture where people want to stay. The best perk you can offer is an atmosphere where talents are put to use, career growth is top of mind, employees are free to be their true self and have ownership over something specific that matters to the company.” [source]

To summarize, it is wonderful to work for a startup where I feel my opinion is valued. The gym membership is the cherry on top.

If you want to read more about Visaya’s workplace perks check out this article here on our flexible schedules.

 

 

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