Attracting the best talent to your company nowadays is about more than offering the highest salary.
Today’s employees aren’t just looking for money when they are in the market for a new role. They want to feel valued by their employer. And offering certain benefits as part of their package could help give you the edge over a competitor.
But it won’t just be the member of staff enjoying the benefit, you will reap the rewards too.
What’s on offer?
Benefits can come in all shapes and sizes and can include practical support, including critical illness cover and private medical cover. Or they could be something more trivial like providing complementary hot drinks in the workplace or a basket of fresh fruit every week.
Other staff rewards can include gym membership, childcare vouchers or access to the Cycle to Work scheme. All these benefits show that the company cares. And if the company cares about the staff, there is a far greater chance that the staff will, in turn, care about the company.
You are probably thinking that there is a lot of attraction in all these benefits for the employee, but no obvious appeal for you as the boss.
Keeping your staff happy
Well, that’s where you’re wrong. It is well documented that a valued and happy workforce will be more productive and that leads to more money in the bank for the business. And it will also encourage your staff to stay with you. Moving to another company with a higher salary may appear attractive, but once they add up what they will lose in benefits, it may be more cost-effective for them to stay with a company they know.
The productivity of your team can be impacted by financial or health worries. But by giving access to private healthcare or a loan for the rail season ticket that will ease their commute costs, you are taking the concern away from your staff.
Providing teabags and milk probably doesn’t seem like much, but for a thirsty employee, it’s one more reason to stay loyal to a company.