Offer perks and benefits that inspire employees
Human capital is one of the most important drivers of competitive advantage in a company. Thus, keeping employees happy, motivated and inspired is crucial for every company. Happy workers are productive workers. However, oftentimes having only monetary incentives is not enough.
LinkedIn is aware of the importance of having employee perks and benefits that go past monetary incentives in order to keep their employees inspired and motivated to work in the company. Here is what they do to accomplish this:
Schedule meetings with the CEO twice per month
Every two weeks, all employees are free to ask questions to LinkedIn's executives and CEO, who are available for one hour. They are able to chat and share information about the company. During the meetings, LinkedIn's CEO occasionally surprises his employees with gifts. The key here is having a fun atmosphere where employees can treat executives like coworkers.
Bring in word-class speakers to inspire your employees
LinkedIn's Speaker Series is available not only to its employees, but also to everyone who wants to listen to the speeches via LinkedIn's YouTube channel. Speakers with diverse backgrounds and personalities are brought in up to 3 times per month.
Constantly fund your employees' professional education
LinkedIn offers their employees up to $5,000 per year to spend on education that will help them become better at their jobs.
In addition, they offer diverse online courses to their employees ("LearnIn"), and managers at LinkedIn can undertake a trainee program that lasts for months, known as "ManageIn".
Allow your employees to spend time working on special projects
One Friday each month, LinkedIn hosts what they call an "InDay" (Investment Day), where employees get the chance to work on projects that have nothing to do with what they do on a day-to-day basis. They introduce a different theme each month (e.g: volunteering, learning, relationships, etc.). The goal is to focus on values that represent the company culture.
Establish a process where employees can pitch their own ideas to executives
Once every four months, LinkedIn's "Incubator" allows its employees the opportunity to pitch their own ideas to the company's executives. If they believe in the project, the team that has pitched their idea can spend up to three months developing the idea with a mentor.
Fund your employees' donation to their favorite charities
LinkedIn gives employees an "Innovation Grant" of up to $10,000 to donate to their favorite charity or to open their own.
Support your employees' personal interests
Another type of grant is the "transformation grant", which gives money to the employees so they can pursue a humanitarian goal they have in mind. Some examples are raising funds for charities, going to Africa to help in a school or orphanage, or going to Indonesia to teach scuba diving to local kids so they can take it up as a profession and help their families.
Provide free yoga classes
LinkedIn offers free yoga classes, but employees can also choose to do Tai Chi, Zumba, and all kinds of activities. Or simply work out in the gym.
Establish a fun competition that takes place every year
LinkedIn holds an annual cubicle/workspace-decorating competition, where employees tend to get very creative and the best receive several prizes. This is a way of having a fun competition which can lead to very funny moments.