6 fresh ideas for better employee benefits
Employee benefits help retain and motivate staff and play a key part in attracting the right talent to your company. Research shows that 75% of employees are more likely to stay with their employer because of their benefits package, and 69% would choose one job over another if it offered better incentives.
While financial rewards are always welcome, people are increasingly judging companies on how well they treat their employees and how valued they make their staff feel as individuals.
You may already be offering your staff some of the typical perks such as discount vouchers, bike-to-work schemes, assistance with travel, subsidised meals, or healthcare insurance.
To stand out from the crowd as a considerate employer, what else can you offer that is personal, relevant, and cost-effective?
Here are our top 6 suggestions for creative employee benefits.
1. Unlimited leave
Some companies offer unlimited leave. This means that, as long as an employee is getting their work done, they can take off as much time as they want. Time off is a powerful incentive. Studies have shown that that looking forward to a holiday makes people happier for up to eight weeks and that employees rewarded with unlimited leave develop a deeper sense of loyalty because they feel appreciated. When an employee feels valued, they become more engaged and motivated, which results in improved productivity.
2. Help fulfil personal goals
This is an employee benefit that is sure to make a lasting impression. The idea is that every employee adds a realistic 'dream' into a company's ‘dream machine’ (which can be a simple cardboard box). When a target is achieved, one dream is drawn from the machine and the company helps make that person's dream come true, whether that be trekking through Africa or running a fundraising event.
3. Invest in their future
Upskilling gives employees a chance to develop or learn skills or gain a new qualification. It is one of the best, and most cost-effective, benefits a company can offer, and it guarantees a return on investment. For example, learning a new language or developing intercultural skills will help your company build relationships across borders and gain a competitive edge. For companies with a limited budget, online training is an affordable and environmentally friendly option as staff don’t have to travel.
4. Look after their mental and emotional wellbeing too
You might already offer gym membership or discounts to local spas and health clubs, so have you thought of other parts of the body? For example, free onsite one-to-one appointments with a life coach, or a monthly office chair massage?
5. Elevate your existing perks
Add value to your existing perks and go one step further than your competition. For example, if you offer a bike-to-work scheme, add a free weekly bike repair clinic. If there is a company book club, how about offering free books? Some companies now offer 'nap rooms' for employees who need to nap.
6. Encourage downtime
All employees need downtime, even during busy periods. Make sure your staff feel trusted and discourage presenteeism. Ask them about their hobbies, interests and what plans they have for the weekend. Look out for opportunities to help. For example, you could pay for a babysitter and a meal for parents who rarely get the chance to go out, or fund outside interests such as horse-riding lessons, art classes, coding lessons, running shoes, music lessons. There are endless possibilities to show that you value your employees both in and out of work.
We are specialists in workforce training solutions.
How can we help you?
- Review your existing training processes and carry out a needs analysis
- Test your employees’ skills levels
- Recommend training options
- Provide training
What will you gain?
- Cost-effective virtual training solutions
- Accelerated training delivery and efficient reporting
- Increased employee engagement and confidence
- Improved international communications leading to better business performance
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- Tips for keeping your workforce motivated
- 6 future work skills you should be developing now
- How to assess the language levels of your employees: a step-by-step guide
- How to adapt your cultural style and language for virtual networking
- Using training budgets for virtual training
- Tips for keeping your workforce motivated