Powerful, Peculiar Perquisites

MOST COMPANIES recognise that people are key to their success. Competition is all about the war for talent. Higher compensations can, in many cases, attract that brilliant leader or the tech genius, but a competitor may well offer even more. This race is financially draining and not really a great strategy.

- KIRAN KARNIK

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.