Employee Benefits

Covid-19 has created turmoil for businesses and employees alike and has brought employee wellbeing to the forefront of employers’ minds. We strongly encourage employers to think about employee benefits, whether you already provide them or are just considering it. Like any other benefit, these should evolve over time and be regularly and clearly communicated to your staff, to ensure they understand the true value of the benefits you provide.

Do you communicate your current employment benefits to your staff clearly and regularly?

A recent survey conducted by YouGov revealed the following:

• Nearly 90% of employees are likely to stay with an employer who demonstrates commitment to wellbeing.
• A 28% increase in downloads for wellness apps in May-July 2020.
• 31% of employees view life assurance as the benefit with the highest long term value.

Creating or enhancing a benefits package for your staff doesn’t have to take huge amounts of time, or cost the earth and will bring business rewards.

What do employees want?

Delivering what your employees actually want and need will ensure they value the benefits package you offer.

Where you already have employee benefits in place, these should be reviewed regularly. If they have been in place for a long time, do they still meet the needs of the current generation of employees?

Have the benefits been modernised over time? For example: Does the scheme cessation age match the current State Pension Age?

As well as salary and holiday entitlement, employee benefits are an important factor in successfully recruiting new talent and can also be helpful in retaining existing staff.

By offering a competitive employee benefits package, you can make your business a more attractive proposition than other employers competing for the same talent.

Contact us now to review your current employee package.

What is your budget?

In the long term improving your employee benefits package will improve retention of staff and save you money on recruitment costs.

There are a variety of benefits you can offer, each with a different cost attached, and by tailoring the level of cover to your budget, you can create an attractive package.