Many employers offer diverse benefits packages to their employees, with evergreen schemes ranging from childcare to car lease schemes.
Offering your employees a scheme to purchase the latest mobile phone may sound trivial compared to a risk-placed benefit like critical illness cover.
Still, both have the same purpose — to improve the relationship between employees and employers.
This positive relationship encourages loyalty, a supportive workplace, and the retention of valuable staff, all of which are essential for the bottom line.
How can you pick the right benefits package for your workforce and business?
It helps to think about these in terms of solving a common problem.
Why do staff become dissatisfied?
There are many reasons why staff become dissatisfied with their work and disengaged from their job and employer, and addressing these issues may help you design your benefits package.
The Institute of Directors identifies several issues that make staff want to change companies; notably, salary is not at the top of the list.
The Institute suggests ideas to improve staff retention, including the following, which are essential:
- Incentivise loyalty
- Invest in taking care of your employees and their families
These strategies are the basis for many of our most popular core benefits.
Popular Benefits
Rewards and recognition
Recognise high-performing staff or those who “go above and beyond” to encourage good performance and loyalty.
Gift cards for spending at favourite retailers are always appreciated, but it’s not just the monetary value that matters. We all like to feel that our efforts have been noticed and appreciated.
Family-based benefits
Our workplace nursery benefit helps parents find affordable, high-quality childcare. This reduces stress and allows them to continue working, keeping their valuable skills in your workforce.
Other benefits designed to care for employees and their families include health-related benefits like gym membership and our Wellbeing Programme, and risk-oriented benefits like critical illness cover.
Take Feedback from Employees
Experts may have their ideas, but one size does not fit all. Depending on your employees’ demographics, they may have some particular preferences. For example, a young workforce may be more likely to take advantage of a cycle-to-work scheme than a will-writing benefit.
The best thing to do is ask them! Asking for feedback and being seen to act on it can have a powerful effect on staff morale.
Ask us!
We have been in the employee benefits business for over twenty years, working with companies of all sizes and sectors. We can use our experience to advise you on the best benefits for your specific workforce.
As workforce needs may change, it is essential to be responsive and flexible in your approach to employee benefits. We regularly review your benefits scheme and keep you informed about the benefits that have the most significant uptake.
Next Steps
Contact us today for advice on choosing the most impactful benefits for your business.
Call us on 0800 088 7315 or use our Contact Form.
Ready to start working with us?