Companies are increasingly waking up to the fact that modern employees demand benefits other than pay. Modern businesses are now commonly offering perks that don’t necessarily feature in standard wage packets.
These can range from seriously useful – such as private healthcare or gym membership – to smaller treats such as meal vouchers and discounted trips out.
Insurance is one of the biggest benefits in terms of keeping staff happy. Although not usually mandatory – except for pensions contributions in the UK ‒ and potentially expensive, insurance can form part of a raft of top-quality benefits that will help your company attract and keep high-performing staff. This can range from healthcare provision, retirement contributions, disability benefit, life insurance, and a payout guarantee in the event of an employee’s death while at work.
Staff may also appreciate help towards extra training or gym membership. These might include courses and classes that will give them bonus skills, a better sense of wellbeing, and mould them into a better, more efficient employee at the same time. Most staff, especially if they are consulted on exactly what training they need, will feel valued by – and therefore more loyal and hardworking towards ‒ a company that allows them to progress and relax.
Rather less expensive, but still much-valued by staff, are benefits such as days off on birthdays, and the chance to take extra days off outside their usual annual leave. Even if these must be unpaid, staff will likely appreciate the freedom to take time out when they need it, and be more productive when in the workplace.
Then there are more fun but highly appreciated offers, such as shopping vouchers, book tokens, free meals, or event discounts. Some companies even let staff bring in their pets!
The most popular kinds of benefits, however, are those that are tailored to staff needs. There is no point offering childcare vouchers to young workers without children – new graduates, for example ‒ but then, those with young kids might see lots of discounts on nights out as unhelpful.
If these contrasting needs sound too complicated to manage, there are alternatives. Some companies, such as Grouptrader Networks Ltd, offer employers schemes that use normal plastic cards – much like credit cards or loyalty cards ‒ which allow staff to pick up reward points. Called GT points, in this particular instance, they are similar to collecting air miles or supermarket points.
The card system means that workers can pick and choose the right rewards for them. Employees can use their GT points to pay for virtually anything, which offer far more flexibility than any employer could hope to achieve.
The Grouptrader Networks system also offers benefits to employers: they no longer have to juggle different products or services, and they can also use the card’s media platforms to gain essential advertising exposure.
It’s clear: when it comes to keeping good staff from leaving too soon, employers need to consider rewards in other forms than simply hard cash. Benefits – whether expensive, wide-ranging, or cheap-and-cheerful – can foster a loyal workforce, which will quite literally pay off.