A new study reveals the most innovative benefits employers are offering to combat turnover.
Across Australia, the average amount of hours worked per week has increased to 41-45 hours this year, from 2012’s 38-40, new research from Mercer has revealed.
The study surveyed 353 Australian organisations, and found the increase in hours worked has been met with more employers offering flexi-time and time off in lieu arrangements, with 75% of employers now offering these.
Health and wellness programs were also prominent, with 94% of the organisations surveyed offering this benefit in some way.
However, while Garry Adams, talent business leader at Mercer Pacific, stated that these benefits do not equate to high costs if handled properly, many employees still seek to incorporate more innovating low-cost benefits.
Mercer’s Annual Benefits Review (ABR) revealed some of the most innovative benefits within Australian organisations, including:
- Half-day Fridays each fortnight in summer.
- A free or subsidized boot camp, gym or other exercise plan.
- Allowance for carpooling or public transport.
- Free lunch once a week.
- Sleep pods.
“The importance of benefits in a cost constrained environment should not be underestimated.
Aligning the right benefits with a company’s culture can improve staff turnover and productivity by improving morale,” Garry Adams, talent business leader at Mercer Pacific, said.
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Adams added that effective employee benefits are often about “trust, flexibility and enabling the employee’s career to progress with their lifestyle”.
Do you offer any unique benefits at your organisation, or are some of these gimmicky? Share your innovations, thoughts and ideas in the comments.