Technology companies like Apple and Google are known not only for their innovations in the industry, but for their contributions to life and work for their employees. In addition, they are known for having great, generous corporate food service subsidies. Other industries that are facing shortages of talented employees would be smart to take a lesson from these companies. Offering tasty, high-quality food at cheap prices or free is a great way to motivate, recruit and keep employees.
Meal Perks Matter
Glassdoor recently performed a survey that shows employees value perks over higher salaries in the workplace. Eighty-nine percent of millennials and 70 percent of workers between the ages of 45 and 54 stated that they would rather have perks and benefits than a raise in salary.
Employees reported that they highly value paid time off, health insurance and benefits to support their work and life integration. These perks allow people to be their true selves when they’re at work, which makes the office as a whole a more enjoyable place. Subsidized food services play a big role in that regard.
Corporate Food Subsidies Stoke Satisfaction
Full-time employees tend to spend more time at the office than at home. As a result, they eat more meals and snacks at work. Because more people are educated foodies, they are also pickier about what they eat and go above and beyond to find food that matches their tastes, preference and values.
More than half of employees, or 59 percent, who were surveyed by Seamless.com said they would feel more valued if their employers offered food perks in the workplace. Sixty-seven percent of millennials said the same thing. Additionally, 40 million millennials reported that food perks are a factor when they’re looking for a job and 36 percent said it would influence them as to whether to accept a job offer.
Better Business Performance Due to Food Service
Food perks included in the workplace strengthen the loyalty, morale and recruitment of employees. It can also increase workplace productivity and thus, a company’s performance. Companies that have food programs have been shown to save 30 to 60 minutes per day by eliminating the need for out-of-office long lunches.
Deep Pockets Unnecessary
Companies don’t need deep pockets like Apple and Google to reap benefits from food service subsidies. Most are budget-driven and rely on smart product pricing to offset the costs. Generally, food is cheaper than what employees would pay for at restaurants of equal quality.
For example, an Eastern Bank in Lynn, Massachusetts offers coffee and hot chocolate for free while lunches are 20 to 30 percent cheaper than a similar meal from Panera.
Sales Drives Corporate Food Service Subsidy Decisions
Companies that want to benefit from food perks may go too far in generosity. Those looking to trim the budget can do the opposite of what they intended and leave a bad mark on employees. The best way to go about offering food perks is to ensure that a large variety of healthy options are available at competitive prices for employees.
Additionally, depending on the location and corporate culture, companies may even want to offer various ethnic cuisines. This can really appeal to employees in the long run and help companies’ overall success.
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