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Yes, employees are replaceable. However, that does not mean they have no value. Genentech and Zappos see the value in each and every one of their employees, and so they provide benefits that motivate those employees to stay with the company (Genentech, 2011; Zappos, 2010). Many of the benefits offered by these two companies are not offered at other companies, so employees want to stay where they are. That encourages those employees to work harder, to make sure they can continue to enjoy their current benefits. The companies also benefit, because high morale and low turnover means higher productivity and lower cost.
3. Incentive benefits that stray outside the realm of a good salary and health insurance can be used at almost any company or organization. People like to feel valued, and when they feel valued they have a better outlook on life, including their job. They work harder, and they willingly give more back to the company for which they work, because they see that they are important. If an employee does not feel needed in any way, he or she may have trouble coming to work. What would be the point, other than to get a paycheck which can be collected from other companies in addition to the current company?
Some companies will balk at the idea of other benefits and incentives, citing the cost of those items (Armstrong, 2006). While that is certainly understandable, companies must consider the cost of not...
If the benefit costs five dollars but the cost of training a new employee because the other one left costs ten dollars, it is much more cost effective in the long run to simply provide the benefit. Some benefits and morale-boosters are very inexpensive. Things like recognizing someone as "employee of the month" and giving them a certificate cost very little, but they make an employee feel as though he or she is an important part of the team and of the company.
Designated parking spaces or larger cubicles also cost very little. Some benefits, like on-site childcare and company-sponsored events, are more costly but they reduce employee turnover and raise morale. Both of those things improve the bottom line for the company, generally to a degree that far outweighs the cost of the actual incentive benefit. All companies should consider how employees are treated, and listen to what their employees need. Sometimes, providing a simple thing can make a significant difference in how an employee feels about his or her job and the company for which that employee works.
References
Armstrong, Michael (2006). A Handbook of Human Resource Management Practice (10th ed.). London: Kogan Page
Genentech (2011). Benefits. Retrieved from http://www.gene.com/gene/careers/benefits.html
Zappos (2010). Jobs.Zappos.com. Retrieved from http://about.zappos.com/jobs
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