Once upon a time, companies rewarded their employees with significant bonuses at the end of the year. For many professionals, this was what they spent each day toiling towards. They looked forward to this bonus, and it often set the tone for the coming year. Since then, times have changed, and employee benefits have evolved. Nowadays, there are so many competing companies that you cannot simply offer financial benefits. Instead, you must offer something better.
Flexible Working
The idea of the optimal work-life balance has been a significant talking point over the past few years, and it will not go away any time soon. Despite some business owners and politicians lobbying for everyone to return to the office, flexible working offers proven benefits. For many professionals who are used to working from home, this is a fundamental expectation If your company doesn’t offer flexible working, you’ll no longer be able to attract the best industry talent.
Professional Development Schemes
Professional development is another key benefit, even if not all of your employees seek it out. While some employees are happy with their lot and just want a job that puts food on the table, others want to scale new heights. You can encourage professional development by providing in-house training or mentorship. If you’re unable to provide this in-house, you can agree to pay a percentage or all of the course fees to help your employees excel.
Experience Rewards
Although monetary rewards are appreciated, this money usually goes towards rent, utilities, or food. Therefore, it feels less like a benefit and more like a way to stay afloat. This is why experience rewards are often more appreciated as it gives employees the chance to do things they may otherwise not b able to afford. Vouchers to a fancy restaurant or tickets to a game are two options to consider, and you can offer these as rewards at the end of every month to incentivize your team.
Health Support
Health benefits are also expected, especially if you add dental coverage to the policy. However, you can take this further by making sure that your employees’ families are covered as well. After all, what’s the point in health coverage if it only applies to one person? Business owners can provide even more support by working with NDIS to assist disabled employees or family members, which provides a broader and more appealing option for potential employees.
Childcare
Although flexible working allows employees to care for their kids at home, it isn’t always possible, especially if their children have specific needs. Establish a workplace daycare policy, whether in an on-site creche or paying daycare fees (especially if you require people at the office), to make the job more appealing and demonstrate that you understand the importance of family.
Benefits
Employee benefits are often the most basic expectation of any contract, but you don’t need to stick to basic offerings. If you want to attract the best talent and encourage a healthy professional and personal lifestyle, these employee benefits can do wonders for your employee satisfaction. If you are looking for a great tool that employees can use, invest in an employee benefits packages mobile app.