Offering perks is another approach. However, new tax laws have considerably diluted the attractiveness of conventional perquisites such as a company car, leased housing, holiday allowances, etc. In any case, these were common and, therefore, not a winning differentiator in the talent battle. Nor, for that matter, are attractive corner offices with a great view or a daily office lunch catered from the best restaurants.
What, then, can be the magic formula? Memberships of gyms or exclusive clubs used to be special but are now becoming routine, as are health check-ups. A yet uncommon perk is admission for children in prestigious schools; though difficult to guarantee, it has considerable value. Special leave for children’s milestone examinations (Class 10 and 12) is another perk that may be attractive.
This story is from the May 18, 2024 edition of BW Businessworld.
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This story is from the May 18, 2024 edition of BW Businessworld.
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