As consultants specialising in talent within the technology industry, we are frequently approached for insights and feedback on various aspects of employment, including branding, salaries, recruitment processes, best practices, and employee benefits. In the wake of the COVID-19 pandemic, employee benefits have become increasingly crucial for organisations aiming to distinguish themselves in the market and gain a competitive edge. 

The landscape of employee benefits is constantly evolving, but we’ve certainly observed and experienced the growing importance of work-life balance, wellness, and flexible work arrangements in the post-COVID era. 

A Market Shift Towards Wider Benefits

While salary remains a critical consideration for individuals in the job market, the pandemic has prompted job seekers to look beyond monetary compensation. The focus has shifted towards wider benefits that significantly impact work-life balance and overall well-being. Previously, many organisations boasted about their flexible work arrangements, offering the opportunity to work remotely for 1-2 days per week. I remember we use to ‘sell’ this benefit to candidates whether it be verbally or via our advertising. However, COVID-19 forced companies to reevaluate their benefit offerings, leading to significant improvements that persist even as the pandemic subsides. 

Flexible Work Arrangements

One of the most notable changes in employee benefits has been the widespread adoption of flexible work arrangements. Whilst there are still some companies stuck in the dark ages that require everyone to come in, every day, most have embraced hybrid models. This typically involves employees working three days a week from home and two days in the office, striking a balance to maintain collaboration and social connections. The pandemic has accelerated the acceptance of remote work, ultimately benefiting employees seeking improved work-life balance and greater flexibility. 

Looking in the Mirror – Enhancing Our Own Benefits

As experts in the market, it has been important for us to ‘walk the talk’ and ensure that we flex and adjust our own benefits to meet what candidates are looking for in the market, and ensure we continue to provide an environment in which our employees can thrive. 

Reflecting on our own benefit offerings before the pandemic, they were OK, but if we were taking our own current advice, we had a bit of work to do. In addition to offering competitive market salaries, we highlighted benefits such as a $250 health and wellness allowance, birthday leave with a $100 voucher, Friday afternoon drinks, five weeks of leave after three years of continuous service, and flexible working hours. Sure – they weren’t bad, but we questioned whether they truly fostered the culture, environment, and values we wanted to embrace. 

Addressing Burnout and Introducing the 9-Day Fortnight

COVID-19 also left us with a sense that burnout was creeping in, and a ‘groundhog day’ feeling, leading us to explore innovative solutions. In 2021, we implemented a trial run of the 9-Day Fortnight (9DF) model. This structure allowed our team to work nine days consecutively, followed by one day on call. Striving for a balance between customer-centricity and employees' personal time, we carefully considered the practicality and feasibility of this approach. Customers are at the heart of what we do, and we didn’t want to run a setup that would be unrealistic for our company or service, or just used for ‘marketing’ purposes and never used in practice. In short, it was a success. The positive impact it had on our team, combined with minimal disruption to customer service, led us to make the 9DF a permanent part of our work culture in 2022. 

Expanding Leave Benefits

Recognising the high burnout rate associated with recruitment, we also looked to bolster our leave benefits. We implemented a progressive increase in annual leave entitlements where after two years of service, employees now receive an additional week of leave per year. This increases to two additional weeks after four years, resulting in a total of six weeks of annual leave. 

By focusing on employee well-being and work-life balance, we aim to mitigate burnout and nurture a supportive work environment. 

Beyond Benefits: Career Development, Culture, and Office Space

Employee engagement extends beyond ‘on paper’ benefits alone. We also continually acknowledge and consider the significance of career development opportunities, fostering a positive company culture, and providing a comfortable office space. These factors play integral roles in attracting and retaining talented professionals, so we’ve also introduced new training and development courses and opportunities, reviewed our reward and recognition scheme, introduced new social gatherings and upgraded our office spaces. 

As part of our ongoing commitment to employee satisfaction, we will continue to review and enhance our offerings, and our current focus is on introducing an Employee Insurance Protection scheme in the future, further bolstering the comprehensive benefits package we provide. 

By adapting our own benefit structure, such as implementing the 9-Day Fortnight and expanding leave benefits, we strive to create an environment that fosters employee satisfaction, productivity, and a healthy work-life integration. As the landscape continues to evolve, we remain committed to staying at the forefront of employee-centric practices and providing an outstanding employee experience.