However much thought you have given to workplace benefits as an organisation, it is probably fair to assume you are unlikely to have given much thought to the one we’re going to talk about in this post.
It may seem a stretch. Workplace benefits typically exist to make employees’ lives a bit easier or to provide some degree of convenience. When we think of the most obvious benefits schemes such as Cycle to Work spring to mind, or discounted gym membership.
There are also big money-savers, such as workplace nursery provision, this potentially saving an employee with a young child thousands of pounds per year.
Some include benefits that address mental health and wellbeing – the Employee Assistance Programme is a wonderful option all organisations should consider.
Finally, there are benefits that tailor to the fact that many employees will have partners or families and so family health or dental insurance may be appealing, so too the ability to buy or sell holiday.
However, pets. Really?!
We have suggested in past blog posts that a failure to have a suitable programme of benefits could make it harder to recruit high-quality newcomers. This probably isn’t the case for pet insurance, it is unlikely anyone would turn down a job simply because the perks don’t include money off Fido’s jabs.
Why then give any thought to a benefit such as this?
The reason is because a benefit such as pet insurance can go that extra step to demonstrate that an employer is looking after employees, that it is making life easier for them and appreciates all their efforts.
Pet ownership has increased greatly in the past year due in part because of the Covid-19 pandemic and the fact we have all spent so much more time at home. Pet insurance is therefore a benefit that has never been of more use, or more likely to appeal to a large percentage of the workforce.
Perhaps it also sends a subtle message that as an employer you are aware what it’s like to have a pet – and that they can be annoying at times, as anyone with a young dog and a Zoom meeting to attend will know only too well…
There is some evidence that offering pet insurance leads to increased productivity, a survey in the US finding that 42% of those they surveyed who offer this benefit saw an increase. We’d take that with a pinch of salt though – it’s unlikely a single benefit such as this could make that much impact on its own – after all, pet insurance is a necessity regardless of who the provider may be.
Really though pet insurance should be used just as an example of how employers can think creatively to offer benefits that will appeal to people and also promote the right message – that people are valued.
The benefits to prioritise should always be governed by the nature of the workforce and also those the organisation might look to employ in future. For most, this will mean a broad range of benefits to reflect the diverse nature of the workforce, but others may find that they employ a large percentage of certain demographics and so should tailor benefits accordingly.
In a post on BenefitNews, the following is said of pet insurance.
“A solution like pet insurance is a very easy way for an employer to say, ‘I see you, I understand what you’re going through and I understand what’s important to you.
“It’s a quick win for employers.”
However, this could apply to so many benefits.
What can be difficult for any employer is to know where to start. Which benefits are possible, which should they offer and then how to stay across them all?
If you would like to expand – or simply start – your range of workplace benefits please contact us for an obligation-free conversation. We can work with you to assess the benefits that would be best suited to your business and organisation and then set everything up and running for you.
At Enjoy Benefits, we have great experience in helping companies of all sizes introduce benefits that are suitable for their workplace.
Benefits are easy to set up and ongoing administration is then run through a hub, this allowing employees to manage their own benefits while the employer can see which benefits are proving popular and what level of take-up each has had.
If you would like an obligation free chat to discuss which benefits might work for your business and your employees, please contact us by calling 0800 088 7315 or using our Contact Form.