Facing stiff competition from the Tooth Fairy and the Easter Bunny, Father Christmas needs to offer a wide range of employee benefits to his workforce if he is to provide a competitive benefits package and ensure he retains the top talent he relies on, according to Aon Consulting, the employee risk and benefits management firm.
With his diverse workforce – comprising elves, Mrs Claus, reindeer, air-traffic control and many other support staff – Santa needs to provide benefits that will both meet the needs of his workers and help maximise their productivity in the run-up to their busiest time of year.
Aon recommends that Santa thinks outside the gift-wrapped-box when looking at the benefits package he provides and should include:
➢ ‘Elf-care’ benefits – the elves are the engine of Santa’s operation so it is critical to maintain employee wellbeing and make sure any ‘un-elfy‘ workers are treated, re-habilitated and fit for work again as quickly as possible
➢ A generous pension scheme – having been around for centuries, Santa is acutely aware that the working lives of elves and reindeer are relatively short; ensuring they are well prepared for retirement is essential
➢ Travel insurance – it might only be one round-the-world-trip, but given the time constraints and number of stops, it is a logistical nightmare, with plenty of scope for something to go wrong
➢ Key-person insurance – the whole North Pole enterprise relies on a few key individuals. It’s important that Santa, his Head Elf and Rudolph have adequate protection in place
➢ Risk benefits – such as life assurance, disability benefit and group income protection
Gareth Ashley-Jones, head of flexible benefits at Aon Consulting, said: “With a diverse set of employees, a flexible benefits programme – where workers are able to pick and choose the benefits offered to them – would be ideal for Father Christmas.
“Clearly elves, reindeer and the man himself have quite different needs, and flex means his workers can choose the benefits most appropriate to them.
“Any business is only as effective as its employees: Santa relies heavily on attracting and retaining the best elf and reindeer talent to ensure he can keep his promises on Christmas Eve.
“Providing competitive employee benefits, and ones that help facilitate a healthy and productive workforce, should be a key component of any employer’s strategy.”
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