Sunday, 14 July 2024
Business

What Are The Most Desirable Employee Benefits?

What Are The Most Desirable Employee Benefits?

Did you know that 60% of candidates have said benefits are a major factor when considering a job offer? Yet, understanding the most valuable benefits for employees can be difficult. 

Whether you’re a large organisation or a start-up business, here are some of the most desirable employee benefits to help you attract and retain the best talent for your company. 

Career progression

One of the most desirable benefits employees have expressed is career progression opportunities. Knowing that their employer is invested in their career development attracts candidates to want to be loyal to a company and stay in the company for a longer period of time. 

As an employer, you can also benefit from offering career progression opportunities as upskilling your workforce will help your staff to bring valuable skills to the company and encourage them to stay with your company longer, reducing recruitment costs. 

Flexibility

Flexible working can be offered in a variety of formats. Whether you allow your staff to shift their working day by a few hours or pick and choose when they come into the office and work from home, it is an extremely attractive benefit for potential talent applying to your company. 

With various benefits for both the employee and you, the employer, flexible working is a no-brainer benefit your company should begin to offer. Not only has it been found to promote a healthy work-life balance, but it also increases employee productivity levels and reduces burnout. 

Health & Well-being schemes

As an employer, you have a duty of care to your workforce. A health and well-being scheme for employees involves your company investing time and resources in supporting employees’ physical and mental health.

Some examples include financial coaching, free fitness classes, Lifestyle Spending Accounts and holistic well-being experiences. These types of employee perks can help make your business stand out from your competitors. Employee engagement hubs are the ideal space to organize these schemes amongst your workforce, and starting a benefits benchmarking process is crucial to build the best benefits package possible to include in your job offering.  Learn more about this with Benepass.

Pension plans

Businesses that offer good pension schemes have been found to score higher in the recruitment and retention stakes. Employees like to feel secure in knowing they are building up a healthy pension pot for retirement. Pensions are a tax-efficient way of long-term saving.  

Research implies that three out of four employees think a good pension plan is the most significant benefit a company can offer. 76% of employees are likely to be attracted to another company that cares more about their financial well-being. This demonstrates the significance of offering your workforce a good pension plan. 

Staff discounts

Employee discount schemes entice employees because they can help them save money on everyday purchases, acting as a pay rise. These discount schemes come in gift cards, vouchers and e-vouchers.

By encouraging your employees to engage with your products or services, you are also benefiting the organization as a whole and bringing together a better company culture. If you can put together a staff discount scheme, you will; find that potential candidates will be attracted to your company and you will better retain your current workforce as well. 

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