It used to be that the deciding factor in deciding between employers and jobs was salary and ambition and, while both remain importance, recent decades have seen another factor become key too.
Work life balance.
It’s intangible, but it is something that is sought far more than ever used to be the case. Perhaps it is the books we grew up with, talking confidently of a future when we would have as much leisure time as time spent in work.
Perhaps it has come about because luxuries are so much cheaper than they used to be. Foreign holidays and the latest tech and cars are available to all rather than just a select few. For many, there simply isn’t the need to keep earning extra money at the expense of everything else.
Ultimately, the reasons don’t matter. What is certain is that more people, more employees want more than just to work. They want work to help them live the life they want to live, not to be their life.
How then can you as an employer help them find this balance – and doing nothing might not be an option. If you don’t offer a work life balance, quality potential recruits are simply going to look elsewhere.
In the UK, the balance for many isn’t great, a recent survey placed us in the top 20 – which sounds all right but we were only scraping into the top 20, well behind most of our European neighbours.
We believe there is much you can do and without any cost to your business – in fact, you can help employees achieve a better work life balance and also make savings.
Employee Benefits and Work-Life Balance
They key is simply to show employees that you are looking out for them and to make their life that bit easier.
How do you do this? By providing a range of benefits that help them get services they were already going to use, only at a reduced price.
By setting up workplace benefits, you can
Help employees save thousands on nursery costs.
Parents with children of nursery age will require childcare provision and, with the UK among the most expensive countries in the world for childcare, this eats into disposable income.
Many working couples find that the equivalent of one wage is spent entirely on nursery fees. However, by setting up a workplace nursery scheme, employees have access to the same great childcare provision but at greatly reduced cost.
The payments come out as a salary sacrifice, the result is savings that are usually at least £3,000 and, in some circumstances, can reach £10,000 per annum.
Give them deals on gym membership
A quality local gym, only at reduced cost as it comes out as a salary sacrifice.
Getting fit and staying healthy becomes easier, there is no need to shop around for membership deals as you will be offering one that is unmatched.
Make getting to and from work easier
Setting up subsided parking, cycle to work schemes, bike hire and car leasing offers all save both the employee and employer money.
Employees have to get to work, but isn’t it better if they can do this more cheaply and in a way that suits their requirements?
Create a discount club that helps people make more of their leisure time.
This can include money off cinema trips, savings on days out to theme parks and museums, savings on holidays and hotels, up to 30% off high street store prices.
This is another benefit that helps people get the leisure items and experiences they already wanted, but at a reduced price.
The business benefits too – not only because the offers are of course open to all and all employees want holidays, but because there are also savings to be had on equipment.
Give employees access to a Dining Club Card
This benefit enables employees to eat in restaurants at a reduced rate, often with 2-for-1 deals. Even using the card just twice a month can help anyone who enjoys eating out save close to £1,000 per year. Cheers!
Help employees stay healthy
As well as the reduced price gym membership, health insurance can be offered as a salary sacrifice, so too dental cover.
A huge range of benefits
There are many other benefits too, all at worst cost neutral but in many cases saving the business money too.
Setting them up is straightforward, so too the management of employees’ choice through an online hub. The administrative burden for the business is virtually zero, they simply reap the benefits of happier, more motivated staff.
At Enjoy Benefits, setting up workplace benefits is what we do, helping businesses come up with a suite of benefits well matched to how many employees they have and the nature of their workforce.
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.