In late March, Human Resources directors, managers and consultants congregated with Autopia at Kirribilli’s Royal Sydney Yacht Squadron to discuss the future of employee benefits – and the influence of changing demographics upon it.
Workplaces today are a combination of baby boomers, Generation X, Generation Y and Generation Z. In addressing this amalgamation, this roundtable discussion touched on the benefits that all employees seem to value, through to the benefits that resulted in the highest ROI for the organisation.
Some employee benefits were common practice across the range of industries present, while others were genuinely innovative. Interestingly, the highest-ranking benefits from both categories shared a common denominator.
Despite the diversity of the ‘needs and wants’ of different generations, they each valued one thing above all else. Family.
The roundtable united in the belief that benefits that are tailored to extend to the families of employees deliver the greatest amount of engagement, eventually leading to corporate profitability.
Among those benefits were flexible work hours, and novated leasing or car salary packaging.
To learn more on the range of benefits and how they compare, download the free white paper here.
As to the rationale behind why this might be, celebrated ‘leadership’ author, Simon Sinek, has some thoughts on the subject; he proposes that we aim to surround ourselves with people who ‘believe what we believe’, and when this happens, trust emerges (and he might just know what he’s talking about; his TED talk “How Great Leaders Inspire Action” is the third-most-viewed on TED.com).