Improving Employee Morale, Fringe Benefits for Exempt Employees
Improving Employee Morale, Fringe Benefits for Exempt Employees
(OP)
Hello,
I would like to know what types of fringe benefits other companies give their exempt employees. The last few years have been tough for the company I work for, and there were no raises for three years, until last month. However, this raise was only 2%, and to add insult to injury, it barely covered an insurance increase. I'm a project engineer and supervise several exempt and non-exempt employees that feel the raise was to little to late. I recommended to management to do another evaluation/adjustment in 6 months, since the future looks better, this was denied.
Now I'm faced with employees with low morale, and a deadline to meet. To make matters worse, another division was three weeks late with their part of the project, so now we're are being ask to work overtime. This has not gone over well with the exempt employees, myself included. Management has agreed to consider ideas for possible fringe benefits. Anyone have any ideas?
Thanks,
Larry
I would like to know what types of fringe benefits other companies give their exempt employees. The last few years have been tough for the company I work for, and there were no raises for three years, until last month. However, this raise was only 2%, and to add insult to injury, it barely covered an insurance increase. I'm a project engineer and supervise several exempt and non-exempt employees that feel the raise was to little to late. I recommended to management to do another evaluation/adjustment in 6 months, since the future looks better, this was denied.
Now I'm faced with employees with low morale, and a deadline to meet. To make matters worse, another division was three weeks late with their part of the project, so now we're are being ask to work overtime. This has not gone over well with the exempt employees, myself included. Management has agreed to consider ideas for possible fringe benefits. Anyone have any ideas?
Thanks,
Larry





RE: Improving Employee Morale, Fringe Benefits for Exempt Employees
Other so-called benefits are to give employees more time off through flexi-time and time off in lieu. This tends to be popular with people even though they are in effect replacing overtime payments paid at premium rates with time off paid at single rate. You need to be careful to ensure that you get the time off though and not being asked to work overtime continually with no rest in sight.
Employee share option schemes are also popular if you are offered to save with the company to buy the shares at a later date at below expected stock prices. This can benefit the company as well as the employee though the drawback is that if the stock price is fixed then surprisingly you can find the actual, price 5 years later, less than what you are buying them for.
RE: Improving Employee Morale, Fringe Benefits for Exempt Employees
A reduction of benefit costs, perhaps thru a "benefit spending plan" supported by the company, is a big help. I took a job for $10K less per year, but bring home more money due to this.
Overtime pay (straight rate) helps, too. When I worked for engineering companies, I didn't mind the overtime (mandatory or otherwise) when I got my paycheck. Kind of a bummer when you return to regular hours
Some "quickie" morale boosters include project parties, Spring/Summer picnics, catered lunches, "safety" awards (jackets, pen/pencil sets, clocks, etc.), "safety" bonuses, spot cash awards ("attaboys"), etc.
In the current job market, it's no wonder people elect to stay, with or without a raise. The problem arises when jobs become available again. If you can provide an environment where people want to work, along with competitive pay, you'll be fine.
RE: Improving Employee Morale, Fringe Benefits for Exempt Employees
RE: Improving Employee Morale, Fringe Benefits for Exempt Employees
RE: Improving Employee Morale, Fringe Benefits for Exempt Employees
RE: Improving Employee Morale, Fringe Benefits for Exempt Employees
RE: Improving Employee Morale, Fringe Benefits for Exempt Employees
RE: Improving Employee Morale, Fringe Benefits for Exempt Employees
Is money the only motivator? If it is then do as the smart rat does and leap? Is it that easy?
From reading most of the links the market place at present seems rather deflated, UK as an exception where average pay is on the increase (shortage of skills is the main reason) if you believe everything you read.
I agree with Joules1971 when quick short lived rewards seem little compensation for the amount of work/time being given.
How then does this get resolved?
If enough people leave then those left sometimes are rewarded to ensure no further smart rats leave?
Sorry don't know the answer but extremly thought provoking!
NOx
RE: Improving Employee Morale, Fringe Benefits for Exempt Employees