Health care. Personal time off. 401(k) retirement invest- ing. These are a few of the benefits that firms in many industries traditionally offer their employees. However,
with the trend moving from excess supply of job seekers to excess
demand for job seekers, companies must remain attractive to get
the best talent. This means that firms have to get creative with the
benefits and perks they offer to obtain and retain the best.
Consider Google. Depending upon the office, life at Google can
include not only food, slides and on-site dry cleaning, but the
company also provides work and social spaces for employees to
tinker on their own projects and get to know Googlers they may
not otherwise meet. The ability to have free space and free time
change an employee’s work life, which can increase an employee’s happiness, and ultimately – their work output.
Even without Google’s deep pockets, a 2013 list of the 50 best
small and medium companies published by fortune.com shows
that the right rewards can go a long way. The culture and perks
fostered by these companies run from career development such
as unlimited tuition reimbursement for job applicable courses,
to social activities with book clubs hosted at the CEO’s house.
Whether big or small, these perks demonstrate the firm’s interest
in the employee, both personally and professionally.
Within the commercial real estate industry, the benefits and perks
of the compensation package depend upon the position. Most brokers are hired by firms as independent contractors. According to
the Small Business Administration, an independent contractor is
hired by a firm for specific work and is paid only for that work
performed. This category of employment does not receive worker’s compensation benefits nor are firms required to pay employee
By Erin Weeks