Advanced is a provider of business software with 2,400 employees. As the UK faces The Great Resignation head-on, the organisation understands how important employee benefits and reward schemes are in making it an attractive prospect, not only for acquiring new talent, but also for increasing employee retention and satisfaction.
Chief people officer Alex Arundale says: “Attracting and retaining talent remains a top priority, but it also a challenge that has become more acute amid the skills shortage we are seeing in the post-pandemic world. To combat this, employers need a talent management strategy that is aligned to the business objectives and has an overall impact of improving the employee experience.”
The past 18 months have had an impact on the structure and components of the employer’s total reward strategy, and benefits have been improved and adapted to ensure they align with what is important to the employees, and what will be most beneficial to them from a physical and mental wellbeing perspective.
“For example, the current reward strategy includes traditional benefits such as 25 days’ holiday, as well as new initiatives, including summer Fridays for the entire staff,” says Arundale. “We are working to ensure that the total reward strategy aligns with our culture, enriches the employee experience and is beneficial to all.”
Delivering an attractive total rewards strategy is critical for sustaining employee satisfaction, engagement and retention, but to be effective, it must be communicated in a way that ensures employees are supportive and aligned with the benefits being offered to them.
Arundale says: “This includes using digital content such as videos, podcasts, and blogs for reaching the entire workforce. [Employers] also need various channels through which employees can reach out with questions or concerns related to the programme. Establishing open lines of communication will play a key role in ensuring [a] benefits programme is understood, appreciated, and enjoyed by staff.”