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It is very strangely structured, but it isn't nonsense. > said there is a golden rule for any benefit. If it doesn’t fall under the three categories listed bel
by Eisenstein 4y ago
It is very strangely structured, but it isn't nonsense.
> said there is a golden rule for any benefit. If it doesn’t fall under the three categories listed below, always pay cash.
When looking to give something to employees that is not a raise of their salary, you should meet one of the following three criteria and if you can't then default to giving them a cash bonus.
> If the “perceived value of the benefit is greater” than what the company pays it should be a benefit. For instance, health insurance is usually expensive, so, if a company offers it, employees value it more. If a company wants to “give a message” using a benefit like a concierge service (travel bookings and tours) it sends out a message: Just focus on work. We’ll take care of the rest. Wellness-related benefits showcase a firm's desire to promote healthy habits.
Money can buy things but not all the things -- convenience, the ability to buy as a group, leveraging connections that an organization has are all things that are more valuable to an employee than cash, and they will realize this.
> “So, if a Pizza party is for engagement with no clear objectives, it is a waste of money. Just pay the cash. But if it serves a purpose then they should consider it,” Sharma said.
If you want the employees to hang out with each other and use pizza to pretend it is a benefit and not a forced engagement, then you are going to be disappointed because employees are not stupid (even though you were in charge of hiring them a bunch of smart ones slipped through), so just give them cash and they will appreciate that and not feel like you are treating them like suckers.