What Gen Z Wants

Contributing Author February 19, 2018

Out with the old and in with the new! Generation Z is entering the workforce, and it is time for organizations to be prepared for their many needs compared to millennials. The next group of young adults is a tech-savvy and inquisitive group of talent, born in a time when political and socioeconomic polarities impacted society (think: economic crash, Sandy Hook, etc.).

If you’re looking to redefine your employee appreciation language for the next generation of workers, consider this.

Who Are Gen Z

Generation Z are born after 1995 and have major respect for personal engagement at work and technology to balance work productivity. These employees will travel the world in order to pursue the career of their dreams. Most are highly intelligent and curious, asking questions on the job to develop ideas for operational improvement initiatives. Unlike millennials, they have realistic expectations for their employers and are vocal in presenting their ideas, despite their lack of work experience.

What Gen Z Wants

As you review a student resume, it is important to search for the skills of your ideal employee that can add value to the team. Try searching for action words such as “invented”, “developed”, “organized”, and “achieved” when creating a shortlist of candidates. Generation Z’s experience will primarily be in committee work on campus, volunteering, internships, and classroom projects, which offer transferable skills that can be used in the workplace. Their lack of experience is an advantage because their perspective of the outside world and discussions with their parents can result in unconventional ideas that can potentially help a company grow.

Salary Expectations

Generation Z grew up when the economy started to recover in North America. If the economic downfall didn’t impact their parents, someone in their circle of friends has a story. This age group, unlike millennials, does not expect to be guaranteed a high salary after graduation. Most realize that the starting salary can start at less than $36,000. According to Fast Company, “Among young college graduates, average wages are $19.18 per hour—only 1.4% higher than in 2000.” Nonetheless, there is an expectation that with experience and time also comes an increase in income before retirement.

Open Discussions with Management

Technology is second nature to Generation Z, but a face-to-face connection with their manager is still vital for career development. It is important to foster open communication. When employee’s feel heard, this adds value to their work experience. These professionals aim to work at organizations that will guide their career with regular performance evaluations.

Workplace Cultures

Flexible workplaces are here to stay for Gen Z with an emphasis on an area for employees to relieve stress and focus on work-life balance. The CEO should project this type of culture down to management. This helps the group flourish in a company that genuinely practices these initiatives.

Here is a list of flexible work options to consider:

A gym in the building
Room for employees to destress (i.e., game room, TV room, sleep room)
Options to work from home (i.e., once a month)

In addition, well-being programs and personalized healthcare benefits for employees are additional examples worth implementing at your company.

Acknowledged and Taken Seriously

There are many common misconceptions about Generation Z. They do not respect authority, are glued to their phones, lack social skills, and do not want to work hard. The truth is, Gen Z has an entrepreneurial spirit. However, this also comes with its own advantages. Gen Z isn’t afraid to work longer hours and benefits from how their work positively impacts a company. This group values the opinions of their superiors and working alongside seasoned professionals in their department. They have the confidence to socialize with executives in meetings and share their ideas about customer experience improvements.

As you begin hiring Generation Z at your business, consider what these employees want, the strengths of this generation, and the desired benefits in your decision-making process.

Why You Should Factor in Discounts

Katie Williamson November 2, 2017

Coupons, deals, discounts! These three words might not be ones you normally think of when it comes to employee happiness… but science says, you might want to look closer.
Discount science is an understudied topic, but we think it’s an important one! From keeping employees’ happy to saving them valuable time and money, the evidence is clear.

The History of Coupons

But let’s start from the beginning. Have you ever wondered where coupons started? According to TIME, Coca-cola introduced the first coupon in 1887 with a hand-written ticket offering customers a free taste of their new drink. The success of this campaign is evident in how vast Coca-cola’s reach has been over the last century. Fast-forward to today and more than 700 corporations offer discounts on some type of product or service. It’s no secret that coupons work. But what makes them so successful? And why is it relevant? Only discount science can say!

Discount Science

The Happiness Factor

According to a study in 2012 by Coupons.com, coupon recipients were 11% happier than those who did not receive a coupon. Scientists measured oxytocin levels in participants, the same hormone we experience when we kiss or hug someone. They found that consumers who received a coupon had higher levels by 38%. Scientifically, you could say they were in love with the savings!

The Time Factor

Unfortunately, according to media company Valassis, time is (literally) money for many of today’s employees. In their recent survey, 53 percent of respondents said they spend over two hours a week searching for deals and savings, while 25% of millennials and moms invest over four hours into their search.

The Employer Factor

We believe this is where, as an employer, we can make lives a lot easier for our employees. Employee engagement has gone from a hot topic to a make or break for attracting and retaining top talent. In fact, 4 out of 5 employees would rather receive benefits or perks over a pay raise. By providing discounts, you’re not only putting money back in your employees pockets, but you’re saving them valuable time and energy as well.

It’s easy to offer perks, but are you offering the right ones? Providing discounts can improve happiness among your employees while saving them valuable time and money. The best part is that our discounts are easy to access and easy to use! We’ll save your employees hours each week and put smiles back on their faces.

Contact our team to learn more!

Embracing Seasonal Office Changes

Katie Williamson June 1, 2017

One thing we love about Chicago is that the city really comes alive in the summer. Patios open up and flood with people, baseball season is in full swing, and weekend trips to the beach are an absolute necessity. But with warmer weather and longer days, it can be hard to stay motivated behind the four walls of your office.

That’s why many companies are offering perks that change with the seasons. From cutting down your hours to taking a day off to volunteer, here are a few of our favorite ways office leaders can help employees stayed engaged and productive, while still finding time to enjoy the sunshine.

Flexible Hours

While this is not the newest trend out there, summer fridays are still amazing for boosting office morale. Chances are your employees are daydreaming out the window around 3pm on Friday afternoon anyway, so why not reward them for hitting their sales goals or nailing that project by allowing them to head out early. Plus, there are tons of reasons why flexible hours are great for company morale and ROI.

Seasonal Events

Summer is a great time to enjoy the great outdoors. Whether it’s a beach day or heading out for a baseball game, grab your employees and head outside for some seasonal fun. Last year at PerkSpot, a few of us participated in a 5k together. It really brought the team together for a great cause and motivated us to stay in shape!

Spice Up Your Recognition

Looking for a new way to recognize and reward employees? Summer can be the perfect time to pre-purchase tickets to concerts or sporting events to give to your company’s overachievers. Not sure what to offer? Take a survey to see what events your employees are planning on attending this summer to make sure your prize offerings are relevant and truly incentivizing.

Do Good

There are so many volunteer opportunities available in the summer. From building a house with Habitat for Humanity to serving at your local food pantry, explore options to give back with your office while the weather is warm and your employees are itching to get outside. According to a survey of corporations that encourage employee volunteering, employees who volunteer are 60% more likely to feel loyal to their company than those who do not.

Sun’s out, fun’s out. How is your office incorporating the summer season into your corporate perks?

Welcome to the Workforce, Generation Z

Katie Williamson February 16, 2017

2017 marks the first year Generation Z will enter the workforce. These Centennials will bring a new culture with them, known for being more diverse, resilient and open than their Millennial counterparts.

While 37% of Centennials fear they will not find a job that fits their personality, this presents a new challenge for human resource professionals to understand this new demographic and reach them with strategic content that is relevant to them.

Here are a few things HR needs to know about this new generation of workers:

The Perk Generation

Gallup recently released a report on the State of the American Workforce. In the report they state that “the benefits and perks that employees truly care about are those that offer them greater flexibility, autonomy and the ability to lead a better life.” Millennials are more likely to change jobs due to perks, and the Centennial generation is no different. They are seeking out more independence and flexibility as the world becomes more mobile.

The Entrepreneur Generation

Along the same lines of independence, it should not surprise us that Generation Z is also more entrepreneurial. In fact, 37 percent of Generation Z said they are interested in starting their own company. This could be due to the Millennial generation paving the way with startup technology companies popping up left and right, plus an increased access to educational resources on sites like Udemy, Skillshare, and more.

The Happiness Generation

Millennials have been known to seek growth opportunities over salary. As Generation Z enters the workforce we are finding the same trend. A staggering 77 percent see job satisfaction as equal to or more important than salary. Again, this ties into perks and an overall compensation package that includes more than just the standard healthcare and retirement packages. Centennial employees want a place that makes their life a little easier.

The Mentor Generation

A surprising fact about Gen Z is that they don’t always prefer to communicate via social media and other technologies. In fact, 51 percent say they prefer in-person communications with managers as opposed to emailing or instant messaging. This also ties into their need for mentors. Generation Z doesn’t want a micro-manager breathing down their neck. They do, however, have a strong need for leadership and mentorship. They seek opportunities for growth over salary increases, craving feedback and direction from their managers. If they don’t find these opportunities, then they won’t stick around.

Generation Z and the Millennial generation may not be all that fundamentally different, but finding ways to appeal to their needs and wants will ensure your company has the competitive edge in the war for talent.

Recruiting Star Candidates Without a Star Salary

Katie Williamson October 20, 2016

We all want the best for our businesses, which includes the best employees. But what happens when you just can’t afford to pay big bucks for the best candidates? How can you recruit without the enticement of a fancy corner office or large salary?

Here are three things to consider:

Celebrate Your Culture

It should come as no surprise that employee engagement really pays off (literally). In fact, a Gallup survey reported that 54% of workers who are disengaged would leave their company for a 20% raise or less, while only 37% of engaged employees would make that same decision. Your company may not have a multitude of resources, but there’s one currency that’s undeniably valuable – your people. When interviewing for a new position, don’t forget to highlight your culture. There are many ways to educate interviewees about your culture, but it all starts with asking the right questions and highlighting what makes you unique. You’ll end up finding someone who not only is excited about the role, but is a fabulous culture fit to boot.

Promote Your Perks

Salary is only one piece of the puzzle. Does your company offer an above average vacation plan? What about work from home policies? No business is created equal so be sure and highlight the added perks that a new hire would receive. Maybe you’re even saving them money with exclusive discounts. Whatever the case may be, studies show that happy employees are better employees. Win-win.

Invite Their Input

In a recent survey, 80% of millennials said they want regular feedback from their managers, and 75% yearn for mentors. Highlight this in your interviews and you’re guaranteed to stand out among the crowd. 85% of everything we’ve learned comes from listening. Which means, if we want to know how to effectively lead employees well, we need to provide a platform for them to speak. Do you offer performance reviews every quarter? What about a weekly touch base? However you provide opportunities to listen and learn, showcase this in your recruitment efforts.

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Are Perks and Benefits the Same Thing?

Katie Williamson July 12, 2016

We love perks so much we named our company after them.

But what are perks and how are they different than benefits when it comes to the workplace?

Benefits

Benefits are supplemental to salary and cover basic needs like health insurance, 401K plans, etc. While benefits are absolutely essential for companies, they also come at a price. Most benefits offered to employees cost the company something, unlike our favorite counterpart, the perk, which costs little to nothing for employers to implement.

Perks

Perks encompass everything from bike racks and lounge areas in the office to catered lunches and oh yeah, exclusive discounts on your favorite brands. While benefits are often costly, perks can be offered at a relatively low cost to employers but offer extreme value to employees. Offering perks alongside necessary benefits and compensation packages creates a powerful force when it comes to ensuring employees stay engaged and motivated in their offices. However, like all things, just making these perks available in and of itself is not enough to sustain and retain employees. As more and more businesses begin offering these incentive programs, competition increases when it comes to recruitment and retention. While nearly unheard of 20 years ago, workplace perks are more and more becoming the norm. Companies like Starbucks, Southwest Airlines, and other PerkSpot clients realize this, and that’s why offering perks are non-negotiable.

All Perks are Not Created Equal

So now the question is no longer, will we offer a perks program, but which program will we choose? Overwhelmingly, employees today request perks that improve their everyday lives, such as free gym memberships or discounts on everyday expenses such as groceries and cell phone plans. These programs are more likely to resonate with employees because they show that the employer is listening. It reaches the heart of what all employees truly desire: to be heard and understood. PerkSpot’s mission is to make that a little easier for employers. We negotiate the discounts so you don’t have to. We provide the tools to communicate with employees on how to use the platform, where to find the discounts, and even deliver the latest and greatest perks right to their inbox.

Want to learn more? Reach out to us at sales@perkspot.com

Don’t just offer perks. Offer the right ones.

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Evidence that Exercise Can Make Your More Productive

Courtney Shipshock March 11, 2015

Emerging research suggests that exercise is just as important for your mind as it is for your body. Numerous studies find that different types of exercise affect the brain in an equally varied number of ways. Both promote cognitive function and preserving brain health. Let’s discuss the science behind this research and dive into a few examples that have positive implications for productivity.

What Science Says…

Studies show exercise can increase the presence of BDNF (brain-derived neurotrophic factor) in the brain. BDNF is a critical protein for the brain’s ability to heal, adapt, learn, and form memories. Until a study led by cell biologist Bruce Spiegelman, researchers remained uncertain about how exercise actually induces elevated levels of BDNF. Spiegelman and his team discovered that irisin, a hormone secreted by muscle cells after endurance exercise, is essentially a “chemical messenger” that promotes expression of BDNF, as well as genes linked to learning skills and memory formation. The discovery of irisin has enabled the scientific community to research the effect of exercise on cognitive function with more precision than ever.

A Georgia Institute of Technology study found that intense resistance training for periods as short as 20 minutes can boost episodic memory (memory of specific past events) by 10%. A study by David Jacobs linked aerobic fitness during one’s 20’s and increased memory performance later on in life. Two studies by the Beckman Institute at the University of Illinois (one on children and one on adults age 60+) measured increased white matter integrity in those with higher levels of aerobic fitness. White matter has been deemed a “superhighway” connecting the brain’s regions; more compact white matter is associated with increased attention and faster cognitive function.

Exercise for Your Mind

While we still have years worth of research before we fully understand how exercise impacts the brain, it is clear that many forms of voluntary physical activity enhance mental performance and protect against neurological disease. The latter is certainly an important trend for the 21st-century American worker. We see this as the average retirement age has slowly but steadily increased for the last two decades.

On a related note, exercising for 150 minutes per week improves sleep quality up to 65%. This is especially significant when considering that poor sleep quality may lead to long-term loss of grey matter. This important substance makes up brain regions responsible for muscle control, sensory perception, memory, and decision making. Furthermore, scientists attribute the lack of proper sleep with mental fatigue in the workplace than one’s actual workload. By boosting cognitive function and reducing mental fatigue, exercise can effectively lighten your workload without actually reducing your output!

We here at PerkSpot know that starting a new exercise routine can be a challenge. That’s why we offer PerkSpot Health and Wellness. Your employees save big on local gym memberships and nutrition programs, and your business benefits from healthier, happier workers!

How to Invest in Happiness Without Blowing Your Budget

Courtney Shipshock February 23, 2015

It is a corporate truism that happiness begets productivity. There is a slew of data to support this idea, such as the extensive work of Teresa Amabile or this Gallup poll by James Harter. More recently, perks have emerged as the choice tactic for companies seeking to boost employee happiness. So much so that companies, from entrepreneurial startups to established enterprises, hire perk managers to engineer creative perk programs.

We here at PerkSpot know that not all perks are created equal.

We are also aware that not every business can afford a $10,000 per employee desk allowance or a month-long office adventure to Thailand. We’ve dug deeper into the wealth of research on the happiness-productivity model and hope that our findings will suggest some cost-effective ways to invest in workplace happiness that will ensure your highest ROI. A number of recent studies point out that broader psychological factors have the strongest implications for increased workplace productivity. Professor John Zelenski demonstrated that “positive affect” is more strongly tied to high productivity than either “job satisfaction” or “quality of work life.”. In another study, Thomas Wright found that increased job satisfaction yields increased productivity only when employees already have a high level of psychological well-being (PWB). Employees who score low on “life satisfaction” stay home an average of 15 more days a year, states Gallup Healthways. Another Gallup study showed that retail stores scoring high on employee life satisfaction generated $32 million more in earnings than less happy competitors. The data suggests managers should focus on perks that promote more general psychological factors like life satisfaction and psychological well-being. An office ping-pong table may seem sure to increase employee happiness. However, MetLife’s Benefits Trends Study suggests that offering a financial education program may be more effective. According to the study, 54% of employees worry about their financial security; while 51% of employers strongly agree employees are less productive when they worry about personal financial problems. 57% of employers agree that offering financial education to employees has a positive impact on productivity.

Don’t underestimate the benefit of perks that cost you nothing.

A recent study by Nicholas Bloom and John Roberts focused on China’s largest travel agency. They found employees permitted to work from home were 13% more productive and 50% less likely to leave their jobs. Considering the cost of replacing an employee can range from 90% to 200% of their annual salary, this is significant. In fact, FastCo.Design says you may see similar upticks in productivity from changing your office environment. They suggest converting a portion of your office into spaces akin to employees’ homes (think sofas, café tables, etc.). Increased time with family and friends can strongly reinforce the high levels of psychological well-being that promote job satisfaction. It’s no surprise, then, that the Society of Human Resource Management reports that 30% of employers offer discounted tickets to movies, theme parks, museums, and more in order to encourage more family outings. We hope that our research sheds some light on the burgeoning world of workplace perks. Perks geared toward enhancing employees’ lives outside the office can result in the largest jump in job satisfaction and productivity. The above examples suggest some cost-effective starting points for anybody looking to build a perks program into their office culture. Want more insights like these? Subscribe using the form to the right!

Who Are Gen Z

What Gen Z Wants

Salary Expectations

Open Discussions with Management

Workplace Cultures

Acknowledged and Taken Seriously

The History of Coupons

Discount Science

The Happiness Factor

The Time Factor

The Employer Factor

Flexible Hours

Seasonal Events

Spice Up Your Recognition

Do Good

The Perk Generation

The Entrepreneur Generation

The Happiness Generation

The Mentor Generation

Celebrate Your Culture

Promote Your Perks

Invite Their Input

Benefits

Perks

All Perks are Not Created Equal

What Science Says…

Exercise for Your Mind

We here at PerkSpot know that not all perks are created equal.

Don’t underestimate the benefit of perks that cost you nothing.

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