BRIBERY. It's an ugly word, don't you think? And it's not something you would ordinarily associate with fair and honest business practice (although I'm sure if we're truly honest, we've probably all resorted to minor variations of it over the years to get our own way).
HR departments obviously have euphemisms for terms like bribery, they always do, it's part of their job. You see it's so much nicer to use terms such as company perks, incentives, benefits, golden handcuffs, golden hellos, golden handshakes, even go
lden parachutes. However, loyalty payments (yes, that's another euphemism) are entering a new league.
It is, I understand, no longer enough to offer private healthcare, childcare vouchers, or subsidised gym membership. Share options, laptops and profit-related pay are expected. Loyalty apparently boils down to who offers the best company car. Oh how shallow and fickle we are.
The latest recruitment research has revealed that company car drivers would leave the firm they work for if they were offered a job with a better car. You have been warned.
The company car, the stalwart of the job perks menu, is king again. A top-spec company car can apparently be the ultimate incentive for a skilled worker, particularly in industries that are facing fierce competition in recruitment. The research shows that it is traditional company car schemes, not cash, that have the pulling power. Cars are considered symbolic of wealth and status and are, therefore, an important form of recognition in the workplace, according to Robert Kingdom of Masterlease.
Now, it would be easy to suggest that Masterlease have a vested interest in companies spending more on their corporate fleet, but that would be a tad cynical, and the figures they have released just don't lie; the prospect of a head-turning car can be a big enough incentive for a third of all employees to jump ship and move to the competition.
If employers fail to motivate staff through the right types of incentives and do not have good employee engagement, they could experience difficulties with retention and recruitment.
Like it or not, bribery is going to be the next big thing in business. And I for one don't like it. It might begin with a flashy car but where does it end? Bribery within an organisation is one thing, but bribery between clients and suppliers is another. All-expenses-paid trips abroad in return for orders are common place. But clearly wrong.
So what price loyalty? What happens when an annual bonus is no longer enough? Nowadays private healthcare is accepted as standard. Cash bonuses for employees who introduce successful new-starts are old hat. And none of these will attract quality people to your business because so many others are doing the same thing. Companies are forced to become more and more creative in their perks in a bid to attract, and retain, good employees.
Work at Google, and you get onsite massage and gymnasiums, free food, and all Google engineers have 20% of their time to pursue projects that they're passionate about. Work at WL Gore (which has operations in Dundee and Livingston) and you find there are no job descriptions or titles, no managers, and all employees get more than generous holiday entitlement, share options and on-site massages.
Take up a position at Genentech in San Francisco (ranked No 1 in Fortune's 100 Best Companies to Work For) and you can enjoy Friday night blowouts, on-site daycare, a company store, on-site haircuts and a concierge service that can arrange children's birthday parties. (NB If you're a high-ranking executive who feels you earned the private parking spot and spacious office, then this may not be the place for you because execs and employees are treated the same.)
Timberland, the boot and outdoor gear manufacturer, gives employees who buy a hybrid car $3,000 credit and pays for up to 40 hours a year for community volunteer work.
If you're one of the richest men in the world, what's the best perk you could possibly imagine?
According to Donald Trump, blogging this week on the Trump University website, the best perk you can get is warding off dementia. Honestly, I do not lie.
Under the heading "Perks of a Good, Demanding Job", Trump claims that jobs that make you think too much have hidden perks, like avoiding mental decline. He writes: "Mentally demanding jobs comes with an extra big perk: they keep you mentally sharp even as you age. Day-to-day work that requires negotiation, analysis and decision-making builds up your 'cognitive reserve', which is a level of mental function that helps you avoid mental decline.
"So while you're solving problems and planning, organising and strategising with tough clients, you might feel like your brain is going to explode. In reality, however, you're warding off dementia."
It is estimated that the total value of perks is running into billions of pounds a year, with no sign of it slowing down. But surely people must look for more in a job than money or perks? What about those who join companies for non-financial reasons, such as career opportunities, faith in the brand, an ethical approach to business, or just plain old fun?
I would suggest it's the intangibles that will secure the strongest loyalty from the right kind of employee; a challenging work environment, recognition, opportunity and responsibility. Lead by example and challenge your team with a mission that has the "wow" factor that will capture their imagination, develop their motivation and be their inspiration.
The danger of attracting employees on the promise of exciting perks is that you may not be are getting the right people for the job. If their loyalty can be bought for a sports car with a soft top and all the toys, then that same loyalty can easily be transferred to someone else with deeper pockets and shallower values.
Remember, unless you work for Google, there's no such thing as a free lunch.
The full article contains 1017 words and appears in Scotland On Sunday newspaper.
