Having in place good workplace benefits is vitally important for high levels of staff retention, as valuable benefits can make a crucial difference as to whether an employee stays at your company or decides to look for a job elsewhere.
Excellent staff benefits can also promote workplace productivity, as employee benefits can help
your staff perform more efficiently. For firms, they can also come with useful tax breaks. Here
are some of the most common employee benefits being implemented in workplace schemes in
2019 in the UK.
Working From Home
It is becoming increasingly commonplace for employers to allow their staff to participate in remote working schemes. For example, many companies allow their team to work from home at least one day of the week, or provide employees with the possibility of working from home on a full-time basis. Remote working is advantageous for both parties: it can help to significantly reduce transport costs and promote productivity.Flexible Hours
Another popular benefit being used by firms is providing workers with flexible hours. This tends to be especially favored by those with small children and it is often cited as one of the top benefits people want most from a workplace. For example, it means parents are able to do school drop-offs and pick-ups, without having to worry about it interfering with work.Insurance Policies
Buying insurance, whether it be a life or health insurance policy can be particularly expensive to purchase on an individual basis. As a company, buying in bulk tends to be far more cost- efficient, and more firms are providing insurance policies as a work perk for their employees, helping to attract the most talented staff and to also stand out from their competitors. With specific company life insurance available from just £4.99 per person, there is the sentiment that you care about your staff’s wellbeing and their family’s finances too.Credit Facilities
More businesses are deciding to offer credit facilities to staff as a workplace benefit, to help them in times of financial difficulty. This can be an incredibly important lifeline to employees who may be struggling with cash due to an unexpected emergency. Common benefits of this kind include wage advances, or the ability to borrow money at a low-interest rate, and are offered by various public companies including the NHS and major supermarket chains.These are often direct credit facilities with the employer, they do not require any security and
are classed as non-guarantor loans.
