If you want your company to thrive, it’s important to hire and retain educated, knowledgeable and highly dedicated staff. Top employees tend to accept roles that not only pay well but come with a host of attractive extras such a childcare vouchers, insurance schemes from the likes of HowdenGroup, retail and gourmet discounts, employee protection, car leasing incentives and much more – so let’s take a closer look at the positive impact of offering employees company benefit packages.
- Increased motivation
People spend a large proportion of their lives at work, so it’s important to make them feel valued and appreciated as this in turn will increase their motivation to succeed and help your business grow in a positive direction. While there are many things you can do to treat and reward your staff, having a company benefits package in place will show that you are serious about the wellbeing of those you employ and should help attract the crème de la crème of professionals.
Moreover, if you allow employees to tailor their benefits package, you can rest assured that they are making use of services which will really benefit their lives. Some people, for instance, might want regular childcare vouchers, whereas those who haven’t yet got children might prefer to opt for fine dining or shopping vouchers instead. Similarly, the health crazy might want to join a cycle to work scheme while those who have further to travel might prefer the car leasing plan. In short, provide employees with something they can make full use of and they’re sure to be thankful.
- Staff retention
As the economy improves and more jobs open up, professionals have increased employment options available to them. This mean, as a company, you’ll have to work harder to retain good employees who help run your business on a daily basis. Of course, paying your staff on time as agreed in the contracts you provide and offering competitive salaries will increase employee satisfaction, but if people think they’ve got benefits at your company that they won’t find elsewhere – they’ll be likely to stay.
While offering a workplace pension used to make certain businesses more appealing than others, this is not necessarily the case anymore as all employers will have to provide workers with a workplace pension scheme over the next few years. So, in order to make your business stand out from the crowd it’s a good idea to offer some of the benefits mentioned above.
- Work-life balance
If employees feel like all they do is work and go home, they can quickly become depressed and miserable. This may cause them to quit, be less productive or simply spend their working hours job hunting or moaning to others about how unhappy they are – which in turn can have a negative impact on the whole workforce. The good news is, company benefits packages will give them access to facilities and offers that they might not have got if they didn’t work for you, which will hopefully improve their work-life balance. If a cultural fund is available, for instance, they’ll be able to spend a certain amount of money a year going to the cinema, theatre, music shows and so on without having to dig into their own pockets.
In conclusion, company benefits packages are undeniably a great way to attract and retain top-notch employees and become a business that people want to work for.