When was the last time you reviewed the perks and benefits your employees, new and existing, are getting? If it has been more than a couple of years, you could be missing out on ways you could be gaining an edge over your rivals.
While there may be a sense that ‘if it ain’t broke, don’t fix it’ with things like this, and you may have run the same package of benefits and offered the same perks to staff for years without anyone complaining or suggesting anything new, benefits are certainly an area where you can raise your game in a lot of cases, and glean a lot of benefits from doing so.
Here are three reasons to add reviewing the benefits to your to-do list for early 2018:
Benefits Are A Powerful Recruitment Tool
Chances are you’ll want to recruit some people next year, and you want the very best talent to help your business to thrive. Offering a competitive salary is, of course, one way to appeal to the best candidates. However, a lot of people look beyond pay – which for many roles is pretty similar whoever you work for – and consider what kind of life they can expect while working for a business.
Companies that offer perks that make their lives easier, like flex-time, relaxed dress codes, and home working, tend to appeal to a broader range of people, giving you a bigger talent pool to fish in.
You May Be Behind The Times
Speaking of things like dressing down and home working, these are things a lot of businesses do now and are perks it costs little to nothing to offer. If you haven’t reviewed your policies on what staff can do for a while, you may be providing a working environment that feels unnecessarily outdated.
Naturally, some roles do require fixed hours, smart dress and being on site, but is this the case for all of your jobs? Can you offer some perks to the people who don’t specifically need to do these things to fulfill their roles? If not, why not? These are questions only you can answer for your specific business, but they are worth asking.
Benefits That Could Benefit You
Some benefits are offered purely to make a job attractive, but others you may not currently have can benefit the business too. A good example is an employee assistance program .
An EAP can allow your employees to get expert help in all kinds of areas, including health, counseling, legal support and mentoring, and can also often extend those services to their families.
Obviously, this benefits staff, but it benefits you too because it allows people to contact a well-equipped third party when they have any kind of problem and get help fast – meaning any obstacles to being at their best in terms of productivity are dealt with quickly and your people will feel well supported and positive.
Overhauling your benefits schemes from time to time is a very good idea, so if it’s been a while, make the New Year the time you revisit yours.
Founder Dinis Guarda
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