Perks are one way to attract talent and improve retention. Personalized perks are more valued than those that are company-wide, but in all cases, they have the potential to bolster performance.
Once you give employees a perk, however, there's a psychological feeling that "it's mine." That means an employee can get territorial when it comes time for cost-cutting, according to many HR experts. If you have no choice but to eliminate them, make sure you let your employees know why.
This article lays out the various available perks and explains the trade-offs some companies are willing to make when perks just have to go.