Global - How can companies reduce turnover and increase perks for employees for cheap?

An article by the Vault suggested low-cost tips that can help keep employees motivated and happy. One of the most frequently asked for perks by employees is a casual dress code, according to a human resources consulting firm Ceridian. Not only will this allow employees to save money that will otherwise be spent on suits but dressing casually also means that they get to be more comfortable in the office. While not all industries can accommodate to this, employers can still look into offering one casual day per week.

Alternatively, companies can adopt flexible schedules that can help workers strike a better work-life balance. This will be very much appreciated by employees who have childcare duties to fulfill.

On-site perks like little games and toys for the office is also one of the ways that can make the office environment more bearable for some. Game rooms with foosball tables costs very little to install but can relieve stress. Providing free coffee would also be a very welcoming gesture that will enjoy high utilisation.

Nevertheless, it is important for companies to keep in mind the demographics of their respective hires, the report writes. While a game room and performance-based incentives may be desirable for the Generation X and Y, a company with older workers may find this a redundant move. More mature workers are likely to value health-care coverage and better pension plans. Thus, an employees’ preferred additional benefit depends very much on their age groups and employers need to carefully think about what appeals most to the majority of their workforce.