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Key Takeaways In today’s climate, perk programs are no longer optional. They’re a business necessity.
Thoughtful implementation matters as much as the perks themselves.
Employees can’t use what they don’t know about. Promote perks through multiple channels and reinforce the message regularly.
The workplace has shifted dramatically in the past few years. Burnout levels remain high, financial stress is widespread and employees are increasingly vocal about what they expect from employers. According to SHRM, U.S. employees lose an average of seven hours of productivity each week due to financial stress, costing companies an estimated $183 billion annually. Meanwhile, employee engagement has slipped; Gallup reports that U.S. engagement dropped to its lowest level in a decade in 2024, to 31% of workers. It is no surprise that more than half of employees are either actively seeking or watching for a new job.
Why perk programs matter now
Benefits are often the deciding factor. SHRM data shows 88% of employers rated healthcare benefits as very important for their workforce. Flexible working benefits, family care benefits and professional/career development benefits were also high priorities among those surveyed. Employees view benefits as a top consideration, and they’re looking for more than just healthcare or retirement plans. Perks such as mental health resources, local experiences, lifestyle discounts and flexible wellness programs make a real impact on take-home pay and day-to-day satisfaction. Free coffee won’t cut it anymore.
To keep up with the ever-changing demands of an increasingly competitive labor market, successful organizations need to implement meaningful benefits. The challenge lies in doing so without the headaches of adding yet another costly app or confusing process. Implementing several key strategies can clinch a successful perks rollout that drives engagement while keeping things seamless for both HR teams and employees.
Related: How Leaders Should Think About Employee Benefits
Common pitfalls in rolling out perk programs
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