Episode: 738

Episode Title: Cheap Perks? No Thanks 

To engage employees, don’t just throw free stuff at them. Instead, look to deepen the relationship. Here’s how, next on The Perna Syndicate.

Ep 738 show:

You’re now in The Perna Syndicate—welcome! If the workforce is truly in a highly optimistic, free-agent mindset as recent research suggests, this has major implications for employers. Namely, it means that the loyalty we lost during the Great Resignation isn’t going to magically bounce back. So, what do workers want from their employers, anyway?

I can tell you what they don’t want, and that’s cheap, transactional perks like free snacks and happy hours. According to John Woods of the University of Phoenix, long-term employee loyalty and retention come from a deeper relationship with the employer. If employers can tap into their employees’ desire for growth and provide meaningful opportunities for advancement, they can avoid high turnover. 

The study also found that 70% of workers say that if their company gave them more opportunities to apply new skills, they would be more likely to stay. At the same time, 74% of employers say their people need to learn new skills within the next year to continue in their current job. 

Is it just me, or does this seem like a match made in heaven?

However, nearly a third of employers have been reluctant to offer training programs because they believe their employees aren’t interested. There’s a big disconnect here! By listening and investing in what matters to people, leaders can turn workers’ free-agent optimism into growth and fulfilment at their current place of work. 

Tomorrow: What role does mentoring play in turning free-agent workers into long-term contributors? Tune in next time on The Perna Syndicate for that conversation. I’ll see you there!