09 Aug How To Deliver A Competitive Benefits Package
Did you know that just 1 in 7 employees are aware of their internal benefits package? Stats from OnRec have sparked discussion into the importance you place on benefits and how you communicate these to both current & new talent.
When it comes to initially attracting individuals, a high level of emphasis is often placed on the importance of a high salaries. Whilst this works to initially attract individuals, the follow on question is always what are you doing to retain them?
Companies who offer competitive salaries combined with a tailored and bespoke benefits package, don’t just work to entice and incentivise, they also work to engage, retain and increase morale. From private healthcare to generous holiday allowances, discount vouchers to company cars the options are endless, but they also don’t need to be at a huge expense to your company. The key is to offer flexible options and allow your employees choice, no two people are the same and as a business deliver the understanding that employee needs are important to you.
You might think it goes without saying to communicate these company-wide but with the stat announced by OnRec that more than 3.7 million UK employees are unaware or missing out on their internal benefits offering, awareness is certainly effecting the value of this incentive. These benefits add security and often encompass key areas such as health and wellbeing, which work to make individuals feel valued, so don’t forget to shout about them!
Consider perks that individuals within your industry are looking for, deliver options in line with promoting a work/life balance and add value to your efforts by communicating and demonstrating these company-wide.
- What are you doing to differentiate yourself from competitors and attract desired talent?
- How have you communicated your benefits offering, and how are these being utilised by your team?
- How has your benefits package contributed to recruiting and retaining talent?