Studies have shown that staff at different stages in their career favor different benefits, for example younger staff may tend to favor cash rewards rather than pensions. Companies can overcome these discrepancies by developing flexible “pick and mix” benefit options. An example of this is a points based system where staff at different levels qualify for varying levels of points; these points can then be redeemed against their choice of benefits, typically from a selection including pension, healthcare, childcare, share options, bonuses etc.
Source: “Motivation – A Recruiter’s Perspective”
Original Publication: LeaderValues
Subject: Human Resources