In addition to having a healthy and free lunch as an employment perk, what other
ID: 435820 • Letter: I
Question
In addition to having a healthy and free lunch as an employment perk, what other unique incentives and motivators are of interest to today’s high-talent college graduates? Other than a good salary, what incentives might cause you to choose one job over another? What’s on your list of top”must-have” perks, and why? In addition to having a healthy and free lunch as an employment perk, what other unique incentives and motivators are of interest to today’s high-talent college graduates? Other than a good salary, what incentives might cause you to choose one job over another? What’s on your list of top”must-have” perks, and why?Explanation / Answer
The perks and incentives are generally considered indirect tangibles in terms of the total rewards concept. Intangibles include rewards which cannot be measured in terms of metrics. Some of the examples of the indirect tangibles include Medical benefits, Paid vacation, Retirement Benefits, Training and educational assistance, and so forth. In recent days, the following perks and incentives have been very popular in companies where a horizontal or flat structure exists to boost innovation culture.
Some of the items in the above list seem mandatory in today's context. For example, medical benefits, fringe benefits, retirement benefits, etc. are some of the incentives that have become regulation part of the total rewards as almost every other employer is providing the same. The others may be used in the context of the organization's culture, structure, size, and strategy. For example, a lunch with the CEO for a very large company can be a unique achievement for an employee who does not seem to have any hope of contacting or talking to the CEO in his/ her tenure in a planned manner. Similarly, the training and career growth planning can be a very interesting proposal for an employee working in an SME.
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