Employee benefit schemes are an important tool for any business looking to maintain the best workforce possible. While often-overlooked, employees remain the biggest asset for a business, because without a skilled, experienced, and motivated workforce, a business inevitably suffers.
Therefore, it is important that employees feel valued and appreciated in their work, which is why an employee benefit scheme is such as a valuable commodity. Any business that wants to attract and retain the best employees available needs to offer a flexible employee benefit scheme, otherwise they are lagging behind the competition.
No matter the size or scope of the business, employee benefits are an asset and should be used as such. They make a huge difference to employee retention, helping to keep recruitment costs low and productivity high, while the entire workplace is general a much happier and healthier environment.
Check out the guide below for tips on how to best use employee benefits schemes.
Clearly Communicate What Benefits are Available
The best flexible employee benefit schemes clearly communicate the benefits available. You should always strive to make it abundantly clear what is being offered and why it’s an attractive benefit for an employee.
This should be done during job posting and the interview phase to emphasise there are benefits schemes that potential employees while find appealing, helping to set you apart from the competition.
Communicating rewards from benefits schemes should also be done during the enrolment phase, such as using a welcome pack.
Always Remind Employees Benefits are On-Going
While placing a strong emphasis on benefits before hiring and during enrolment is an effective way to attract the best employees, it’s important to focus on current employees too. When there are great benefit schemes in place, employee retention and satisfaction remain high, so never shy away from communicating that these rewards are on-going.
An effective way to do this is by communicating to each employee throughout the year. Pay close attention to their circumstances to see what benefits could be offered that make them feel a valued part of the team.
For instance, if an employee is starting a family soon, then offering them benefits such as childcare vouchers clearly demonstrates their value to the business, while providing a personal touch to their benefit scheme that doesn’t go unnoticed.
The More Flexibility the Better
As the name suggests, it’s important to feature as much flexibility in your flexible employee benefits schemes. Each employee has their own personal needs and preferences when it comes to benefits, so by offering as many options as possible, you demonstrate loyalty to employees.
Benefits should be wide and varied, with benefit options to accommodate the various demographics of your workforce. Health and wellbeing benefits are possible the most alluring for employees, especially those with a family, while a varied selection of salary sacrifice schemes is also recommended, as is employee pension and insurance schemes.
Take the time to research what schemes are most likely to appeal to your workforce, remembering that the more variety there is the more beneficial the schemes are.