Here’s what employees really want. But are recruiters listening?
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From on-site laundry to free finger-licking meals, most of the companies are offering some very exciting perks to their employees. But do these firms really know what their workers want from them? Well, a recent survey conducted by the Netherlands-based Top Employers Institute has now claimed that employees prefer non-monetary compensation over salary and bonuses.
The report talks about the non-monetary compensations likeflexible working hours and recognition over salary bonus.
The survey, which was based on a sample size of 600 companies from 96 countries, said that salary and bonuses have now started losing importance.
David Plink , Top Employers Institute CEO, told PTI, "While salary is still hugely important, non-monetary elements like flexible hours, learning and development and recognition have become decisive factors in job offers and employee retention."
Under the survey, employees were asked to make a choice under the ‘cafeteria plan’. The plan, basically, is a mixed bucket of benefits, incentives and allowances that make the total rewards model.
Plink, while talking about the non-cash related benefits, said, "Non-cash related benefits have a history of increasing and decreasing relevance but the recent growth in importance suggests it is an irreversible trend."
As per the media reports, talent mobility is comparatively high in India while company loyalty is low, leading towards the ‘Total Rewards’ philosophy.
The study further says that in India, the compensation and benefits need to be tailored to different demographic group of employees. However, the most popular benefit across all demographics is the company’s healthcare programmes.
Image: indiatimes
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The report talks about the non-monetary compensations like
The survey, which was based on a sample size of 600 companies from 96 countries, said that salary and bonuses have now started losing importance.
Under the survey, employees were asked to make a choice under the ‘cafeteria plan’. The plan, basically, is a mixed bucket of benefits, incentives and allowances that make the total rewards model.
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As per the media reports, talent mobility is comparatively high in India while company loyalty is low, leading towards the ‘Total Rewards’ philosophy.
The study further says that in India, the compensation and benefits need to be tailored to different demographic group of employees. However, the most popular benefit across all demographics is the company’s healthcare programmes.
Image: indiatimes
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