The benefits we all benefit from
In some cases, the salary might be the reason why people accept a job offer, but the benefits are what makes them stay. Making sure you retain the right people means making sure you have the right benefits in place. And depending on the direction your company is heading to, there are several approaches to tailor your benefits package on the current Romanian Outsourcing market.
The Give All, Get All
BPOs either in growth mode or simply running day-to-day business, are always looking for fresh and inexperienced talent. If you take a look at some of the biggest BPOs on our market, such as Telus International, Genpact Romania, Wipro Technologies or Accenture Services, benefits will almost always include company meal tickets, branded stuff, gym cards, free books and online classes, free lunches, taxi rides, gaming rooms and game time, relaxation rooms, team-buildings and some much needed theme parties.
This wide range of benefits brings a lot of value to people at the beginning of their careers, because this is what gives them a sense of belonging and helps create a connection with their peers and the brand, which is what will ultimately increase their tenure and engagement with the company.
The problem with the big pallet of benefits that are attractive to new employees in BPOs is that they become less cost effective for specialised companies. Depending on the industry and work culture, Outsourcing companies pick and choose the benefits that are right for their employees and make a difference in their lives: 20% of their time spent on personal projects that bring innovation, shorter Fridays, hackathons and work from home possibility in IT, life insurance, performance bonuses, internet, phone subscriptions and cars in Sales and Finance, mentorship programs, work hours flexibility and customised training programs in customer services. There is no limit to what can be offered, and employees feel appreciated and significant. These benefits are usually the ones that win big points when it comes to retention programs and in this type of companies and careers, a one fits all approach to benefits is definitely not cost effective nor highly appreciated.
The companies that don’t yet find themselves in any of these situations or don’t have the resources to offer many benefits choose to offer basic ones that all employees are expecting nowadays: health insurance, company laptop and phone (if needed for work), free water and coffee and sales bonuses. These are the minimum required and are part of most financial offers of companies who want to make it in the Outsourcing labor market in Romania.
Benefits, same as career aspirations, change over time. And I think it is very important for companies to review each time, along with their strategy and direction, their salary and benefits package. The markets are shifting, millennial and gen Z are bringing new topics to the discussion table and if you are not joining in the conversations, you might be too late to make these changes later on. And that does not benefit anybody.
Andreea Baloi is a Contributor on Outsourcing Advisors
Andreea is a bold and brutally honest IT professional, with over 10 years’ experience in Management and more than 5 running Business Operations. Her background lies in customer support, where she strives to achieve excellency in offering assistance, while inspiring and helping her team to build the skills and strategies needed to develop and grow their IT careers.
Andreea is really passionate about women empowerment, leadership and personal growth, and she’s constantly using her online presence to raise awareness about these topics. She enjoys reading and uses writing as a form of meditation and expressing creativity. When she’s not working, Andreea spends time with her friends and family, usually trying to get her 10-year old nephew to still enjoy her company. You might also find her travelling to new places, doing yoga, watching NETFLIX or occasionally going out dancing.