Employee benefits are fantastic resource that increasing numbers of companies are using to ensure their staff members are engaged and happy in their workplace. But knowing exactly which perks to use can be a tricky problem for human resources managers to overcome.
Here is our list of the employee benefits that your company simply can’t do without:
Health screenings are one of the more common benefits currently out on the UK employment market, with executives seeing the obvious positives of reducing absenteeism. But one underestimated bonus of using this service is that it drops stress levels in more anxious workers, who might otherwise be worried about their afflictions.
Diagnosing more serious diseases before they develop is also a fantastic way to endear your company to employees, with retention far higher among staff members that have had an illness caught by doctors during a health screening.
Cycle to Work
Cycle to Work schemes allow your workers to access tax-free salary sacrifice payment systems that are supported by government legislation. Although the process involved in signing up to the coalition’s scheme is relatively simple, poor implementation can mean that few or no staff members take advantage of it.
That’s where employee benefits providers come in. These companies can provide you with the tools you need to get your staff members on their bikes when commuting, which has been proven to slash absenteeism and increase engagement.
Total Reward Statements
But these benefits are all but pointless if staff members aren’t really sure what they are getting. Replacing traditional payslip summaries with a dynamic Total Reward Statement (TRS) will allow your workers to truly appreciate what their human resources department is doing for them.
Quite simply, there is no point in putting thousands and thousands of pounds into an expansive benefits and perks programme if employees don’t even know you are doing it.
Some of the more well implemented TRS systems allow personnel to compare their income versus previous months’ totals, all while keeping this information secret and secure, so hackers have no chance of getting hold of their personal information.
Rewards and Recognition
Making sure your best and brightest know how well they are doing is a fantastic idea for any business looking to increase retention. Simply giving out awards, which can be supplemented with either a cash prize or vouchers, can let your most valued staff members know exactly how much they mean to you.
This will reduce their chances of moving to another company and will increase engagement levels – the holy grail of human resources.
Even the best and brightest can sometimes find money advice helpful and classes offered by your HR department could prove invaluable in helping members of staff to get the most out of their paycheck.
Some of the more important pieces of guidance given include ways to reduce tax liability, concessions for those paying council tax and best practice in utilising cashback websites.
While this might seem somewhat condescending, many workers truly appreciate employers’ efforts to help them make the most out of what’s left of their TRS.
Dining cards are one of the more well known and oft-used employee benefits on the market and allow recipients to access gourmet restaurants that they might otherwise avoid.
While this isn’t exactly the most revolutionary perk, it will register as one of potentially many reasons for them to stay at your company if they ever consider moving on, which is good for retention purposes.