The Day Has Come, Companies are Finally Giving Something Back to Employees

For the last three years during the 'Great Recession' employees have felt nervous to ask for more from their employers, worrying that their jobs were at stake. But, the day has finally arrived that companies are giving back to hard workers.

Economic analysts say that often when the market resets, some companies' high-potential employees will start looking or new opportunities because they hung in their during tough times and want a fresh start. In order to survive, many companies have cut all of the perks they used to give - pay raises, flexible hours, even free coffee - but more businesses are realizing that if they want to hold on to their best employees they need to give them back the things they enjoy.

FedEx, the St. Paul Hotel, Ford Motor Co., Winnebago and the McKnight Foundation are among many of the companies starting to restore their perks. This is because many of their competitors are sniffing for talent. Another main reason companies are bringing back lost perks is because it's expensive to replace works and in the next decade many of the baby boomer generation will be retiring already.

As the economy recovers, employers are bringing back the goodies. Some are conducting employee surveys, hiring humorists or just bringing back the coffee and cookies that have disappeared. Here are other examples:

Aveda is lifting its ban on employee travel

FedEx and MPR are reinstating 401(K) and 403 (b) matches.

Ford Motor Co., which was thought to be closing soon, actually saw a raise in sales this last year and plans to hire 7,000 U.S. employees

The St. Paul Hotel has said that business has picked back up and they are restoring most of its 275 hourly works to full-time status. Also, they are breaking out the brownies, cookies and popcorn to revive its all-employee meetings

3M Co. froze wages in 2009, but now has reinstated merit pay last year.

Cambria Inc. rehired about 70 laid-off factory workers last year.

The Marsh fitness club in Minnetonka held its first staff party January 7th after a three-year hiatus.

Besides the fun job perks bring, they provide a lot more - employee satisfaction, and when you happy employees they are going to want to stay and create a happy company.

More optimism is buzzing than ever since 2007 and companies see that now that they can afford some perks, they need to give them, especially since turnover costs a lot more. I think is only going to get better from here.