You’re giving your employees their birthday treats and bonuses – so why the need for more employee benefits?
Employee benefits operate in much smarter, interactive and more nuanced way than your usual ad-hoc treats. They may include salary sacrifice schemes, retailer discounts, cashback on shopping, and easy access to day-to-day services.
Although it sounds like it’s only the employee that stands to gain, the opposite is true. Employee benefits are proven to attract and retain employees, saving employers money in the recruitment process and building towards a happier, more satisfied workforce.
In fact, according to a Capita survey, 69% of staff say they’d be more likely to stay with an employer that offers good benefits. Unsurprisingly, 65% also expect that these benefits are appropriately communicated to them, so they can understand the advantages to themselves and to their families.
In this changing workplace culture, it is important for employers to embrace the positive impact that employee benefits can have, to nurture a happier and more reputable environment in which employees can have good faith.
Packages for employee benefits don’t have to be complicated. By offering daily discounts on cinema tickets, high street retailers, holidays and more, you’ll be contributing to staff satisfaction in the following ways:
1. Benefits beyond the office
When your staff use their employee benefits outside of work – for instance, at a night out at the movies – they can expand on their positive work experience beyond the office. A night of unwinding and enjoying a new experience will have been made a little easier with the help of an employer. They will feel supported in achieving a vital work-life balance.
2. Forming positive associations
What’s more, each time they plan to buy something or book a service, your employees will look towards their employee benefits platform, therefore building positive associations between money saving and their place of employment. This will likely become a reference point among friends and family, contributing to a circle of connections and memories, leading to a stronger sense of overall fulfilment.
3. Separating perks from salaries
For an employee, the cycle of a monthly salary is often automatically linked to outgoing bills and essential expenses. Perks and benefits allow users to lighten the load and separate moments of fun and therapy from perpetual responsibilities.
4. Creating a strong support system
A fulfilling and enjoyable work-life balance for employees improves attitude and trust in employers. More than that, having employee benefits focusing on health and mental well-being can go miles for both individuals and employers. Perks like Employee Assistance Programmes (EAPs), free health checks, discounted gym memberships and access to personal trainers means that employees will feel supported in working towards a healthier lifestyle.
5. Better than cash rewards
A good employee benefits package offering discounts across a range of categories can go much further than cash rewards.
Conversations among employees about cash rewards or bonuses can be considered taboo in the workplace – which is simply not the case with employee benefits.
When a valuable employee benefits package is rolled out across the workforce, employees can share deals and discounts from the platform amongst each other, with the knowledge that these benefits are a gift from their employer.
So there’s plenty to gain from employee benefits packages as an employer. Benefits issued will always result in benefits back in the workplace.
If you’d like to learn more about available employee benefits packages, get in touch today to speak to one of Xexec’s Engagement Consultants.