Company Perks
Company Perks
(OP)
I work for a mid sized MEP consulting firm. We're looking for some perks to offer to our young engineers when they get their PEs. We've found the market to be very competitive right now and we just can't offer the same salaries as the huge firms in nearby cities. So, we're looking for some perks to give us an edge (no matter how small) to retain our current PE's and attract new. Up to this point, we offer a standard raise and rely on the quality of our work, reputation, and office environment to keep them home.
We've talked about some of the standards (bonus, more vacation) and some things out of the box (purchasing a beach house and allowing our PEs to use it).. really, we're open for anything so I thought I'd try and steal some good ideas from you all!
Thoughts?
We've talked about some of the standards (bonus, more vacation) and some things out of the box (purchasing a beach house and allowing our PEs to use it).. really, we're open for anything so I thought I'd try and steal some good ideas from you all!
Thoughts?
RE: Company Perks
David
RE: Company Perks
I could not agree more. In fact, that is why I am leaving my current firm. Both of my hands are held out...one has a stake the other does not. There is nothing sexier than a stake in the business.
I am not talking about handouts...just the option to buy is enough. People who stay around for beads and trinkets (generalizing here) are not the folks to keep around.
RE: Company Perks
In our company this has given two distinct result: turnover going down and mean working hours going up..
(The company is Scandinavian based)
RE: Company Perks
corus
RE: Company Perks
RE: Company Perks
Stake in the company is a very good idea.
We actually are looking for beads and trinkets. We feel we pay our employees as best and fairly as we can, but there are probably a bunch of things we could do to slightly "enhance" our employee experience (company car, extra vacation, etc) at a reasonable cost.
The goal isn't to attract sick-o's like myself who are motivated by work and the desire to spend all their free time learning and getting better at their job. A company like mine can only have so many owners. We also need some quality "worker bees," and are looking for some perks to add a little motivation.
We're not looking to try to "trick" people into working for us, just add a little. For example, we started cashing in credit card points from company expense accounts for gift cards, etc that we hand out to employees for various reasons. It doesn't really affect us financially and it doesn't really add much to any employee's quality of life, but it's nice. People like it.
I do believe the little things make a difference. And "yes," I use too many "quotes." Leave me alone
RE: Company Perks
==========================================
Business Card http://mech.e.tripod.com
__________________________________________
Cycle Heaven.......www.tailofthedragon.com
RE: Company Perks
We're scheduled next month to go to a company picnic, followed by seats for the Orioles vs. Nationals game. Last Christmas they rented out a bowling alley and the first few drinks were on the house (every other Christmas is a fancy dressup, the next dress down).
My point is find some activities that maybe only the PEs can share in, such as a local day trip, catered lunch, etc. It sets them apart from the crowd, makes them feel special, and doesn't cost an arm and a leg. Even if some don't like what's planned one month (sports hold zero interest for me), they'll probably like something in the coming months.
Dan - Owner

http://www.Hi-TecDesigns.com
RE: Company Perks
If you have the space, give all the licensed engineers a real office. As much as I try not to let it bother me, as my company has provided me very nice office space, even the biggest and best cubical is still a cubical. I can't help resenting working in one. This could be very attractive to younger engineers who have never had real walls and a door.
Provide your PE's with cell phones, and allow personal use. Its also a good way to keep in touch with them on Friday afternoon after the left the office and are at the bar.
Also I'd second Macgyvers2000 suggestion about company updates with a catered lunch. A company I worked did the same thing with donuts in the morning one day every month, it was very effective in making us feel important and part of the company.
RE: Company Perks
Granted, this was a somewhat unique situation, but something as simple as a home-cooked meal does wonders convincing a hard-working employee how much they're values when they're stuck away from home (especially if their SO doesn't know how to cook ;) ).
Dan - Owner

http://www.Hi-TecDesigns.com
RE: Company Perks
Reserved parking spot.
Even better, paid reserved parking spot.
And bestest covered paid reserved parking spot.
"Do not worry about your problems with mathematics, I assure you mine are far greater."
Albert Einstein
Have you read FAQ731-376: Eng-Tips.com Forum Policies to make the best use of Eng-Tips Forums?
RE: Company Perks
You must be located in one of the southern states. What I would give for covered parking. My parking is free, but if I worked downtown, definitely having it paid for!!!
--Scott
http://wertel.eng.pro
RE: Company Perks
What does a PE license worth to you? if this person were to leave, a replacement (assuming he'll work out) will take at least 6 months before he gets the hang on the way you do things at your place. Is it really worth losing a good engineer because of $10,000.00? it all depends on their work habits and knowledge, etc. of course.
For the real good engineers that you want to keep, get them into a quarterly bonus package, people are not patient enough to wait the end of the year bonus (if you have one), not to mention that they are highly suspicious of the boss's promises.
You've got three months, if in 3 months they don't see tangible difference in their buying power, they will be flipping through the Sunday ads.
Keep in mind, the headhunters know all new PE's and they are after them with a very big carrot.
RE: Company Perks
I don’t know exactly how many people you are dealing with but it sounds like you could sit down with them and find out what is important to the individual. The real value of the personalized perk is that the engineer decides what is best for them, and it shows that the company is looking out for the individual engineer. There is difficulty in making the various perks equal, but a dollar figure can be found for most situations. The personal touch you can give as a small to mid sized firm can give you the edge that you are looking for over the larger more structured firms.
RE: Company Perks
Where I work right now, we also offer "real" flex time. Some opt for 4/10's others (including me) choose 4/9's and a 4 and others still work straight 8's.
It's easy for the company and fortunatly, we have very cooperative clients.
It's tough to leave when you see the value of the 1/2 day Friday.
jjf1
RE: Company Perks
Actually, I was thinking of Phoenix - so I guess SW.
"Do not worry about your problems with mathematics, I assure you mine are far greater."
Albert Einstein
Have you read FAQ731-376: Eng-Tips.com Forum Policies to make the best use of Eng-Tips Forums?
RE: Company Perks
Everyone's motivation is different. Money often works, but only to a point, and as you have found out is the lowest common denominator is job comparison.
Most people get their PE because they want more control over their work. I would suggest once someone gets their PE, the department head talks to them about what thy would like to do and a path to get there. This would benifit both you and the employee. Many (but not all) will pass up higher saleries for a work enviornment where they feel they have some control and voice in the process. Basically, once someone gets a PE, give him (or her) the oppertunity to be a PE.
One tangible perk that can have benifit for the company is to send them to a seminar or conference to further their professional development a play a round of golf.
RE: Company Perks
A balmy 102F today.
--Scott
http://wertel.eng.pro
RE: Company Perks
Organise luchtime professional development webinars so that the PE's can keep up with their professional development requirements.
Offer 'night out on the town' rewards for the employee of the year or every 6 months. Say $200 voucher to a local posh restaurant or theater tickets.
Take an interest in your employees careers not just what they can do for you. Hold 6 monthly reviews and seriously look at what each employees experience and strengths/weaknesses are try to give employees work that will develop them as engineers. This will make them feel that they are in a company that cares about their career.
Take the team out for drinks every couple of months - helps develop team spirit - not to be underestimated, I have often been reluctant to leave a workplace because of this type of atmosphere.
Flexible working hours and additional holidays every couple of years served are also great ideas (as mentioned above).
An alternative to ownership is profit sharing (possibly going up with years served up to some maximum amount). This way they reap some benefit and feel a sense of ownership without having a say in the running of the company.
RE: Company Perks
My taxes tripled in one year, resulting in a loss in net income of several thousand dollars. Don't take stock or offer it unless your share will be large enough that the ownership inclome will out weigh the taxes burden that's going to hit you. I don't know what the magic number is, but once your in my situation buying more stock to get out of it becomes impossible.
RE: Company Perks
I work for midsize company with several hundred employees. They have both profit sharing and stock purchase schemes. However there are still plenty of people around who don't work as hard, waste time & money etc and generally affect the bottom line as well as some management decisions that don't seem particulary logical. It can be very disheartening when part of your compensation is tied to performance of the whole company, you're working your butt off but the guy across from you isn't yet reaps pretty much the same rewards.
RE: Company Perks
Thats why someone invented KPI' s (Key performance indexes) as a measure of an individuals contributions. They are not perfect but if done right they do give a reasonable indication of the individuals effort.
If done wrongly then smart individuals will focus on the KPI's to the detriment of all else.
csd
RE: Company Perks
RE: Company Perks
Free ISP for fast internet access and free subscription to firewall and quality antivirus software service.
If it costs to maintain PE, annual classes or renewal fees pick up cost.
Arrangement to purchase computers or software at company rate.
RE: Company Perks
Dan - Owner

http://www.Hi-TecDesigns.com
RE: Company Perks