Perks Don’t Build Purpose
Today we see companies like Google offering free meals, free transportation and unlimited vacation time. But do these benefits really drive long term employee engagement, motivation and loyalty?
Fringe Benefits vs Intrinsic Benefits
The problem with these perks is that they’re superficial. They can easily be one-upped by a competitor. They don’t inspire loyalty, they encourage comparison-shopping. Today, companies need to inspire employees with benefits that are built-in instead of bolted-on.
A Satisfying Job is the Most Rewarding Job
Now more than ever, employees want to feel like their career is meaningful. They want more from work than money and perks. They want to make a difference. They’re looking for intrinsic motivation.
What is Intrinsic Motivation?
Three key factors drive whether people feel like their contribution is important:
Mastery
Are they perfecting existing skills and learning new skills to grow in their jobs? Employees who are improving at what they do are engaged and energized. Yet most companies silo employees based on their existing skills and don’t measure employee progress. No wonder 68% of employees polled in a 2017 Gallup poll felt they were overqualified for their current job. Give people a chance to grow and so will your business.
Autonomy
Are they allowed to use their skills independently to make an impact? Or are they micro-managed? Employees that feel empowered by their team and leaders apply themselves more fully and own their contribution. They feel valued and become more valuable.
Purpose
Do they believe in the mission of the company? More importantly, do they feel like they are important in achieving that mission? Employees that feel like they’re contributing towards a worthy goal have a clear, motivating purpose to come to work every morning.
Adding Inspiration to Compensation
Benefits and compensation are obviously important, but they tend to be most satisfying when employees first start a job, then they quickly become taken for granted. But intrinsic motivation actually increases engagement over time as employees see their contributions making a difference.
Enduring Benefits
By measuring and responding to employee attitudes in the three key areas, your company unlocks its inherent value to current and prospective talent. That’s more than a perk. It’s a deep and lasting competitive advantage.
José Benitez Cong has been a talent recruiter and HR veteran who built the iPod and iPhone teams at Apple, then helped staff and manage HR at Nest Labs before they were acquired by Google. Now, he’s co-founder and CEO of Plause, a software platform that helps companies spark employee engagement, alignment and performance. Find out how at plause.com
