Why employee benefits are vital for your business

In today’s increasingly competitive job market, it’s vital that businesses are prepared to compete with others in order to recruit that perfect candidate.

Long gone are the days when employees were grateful for a job that offered competitive pay and a pension scheme. Employees now want the whole package!

Candidates today are not only evaluating the job and salary but the company too, before accepting an offer, so having an employee benefits scheme in place is essential.

One of the most important factors of running a successful business is keeping your staff happy. Introducing an attractive benefits scheme can increase employee performance, enhance moral and minimize your staff turnover.

You don’t need to spend a fortune on a benefits scheme either, research shows that staff value the most basic of benefits, so you could start with some of the following:

  • Flexible working:  It’s particularly popular with employees who have families. This could also save on your business utility costs if employees are working from home.
  • Healthcare:  This benefit can offer a range of services such as private medical insurance, dental cover and health screening, saving employees a great deal over time.
  • Charity day:  A great opportunity for your staff to spend time assisting their local charity and also demonstrates your business as a community supporter. Great for company moral too!
  • Childcare vouchers:  These vouchers can help considerably with the costs of childcare.
  • Company shares:  This can be a good way for employees to benefit from the success of a company, it also gives them incentive to work harder!
  • Gym membership:  A great way to encourage employees to be healthy.

A good benefits scheme should support your business goals and values by encouraging the right behaviour from your staff.

Here at Jobwise, we have developed our own flexible employee benefits scheme which our staff really love! We were recently voted 10th in the Great Places to Work award for 2015, voted for by our own employees, proving that having the right scheme in place really does benefit your business.

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16Jun2015