Employee benefits are an important part of attracting new employees to your business and retaining your existing employees. Most business owners will know how difficult it feels to get the right people (and the costs involved in the recruitment process!) and the feeling of loss when you lose someone pivotal.
“Can you tell me why I should work for your company?”
It’s a common question that candidates (rightly) ask during the interview process. Rather than some of the off-the-shelf culture related answers, how about putting yourself in the position to say the below:
– You and your family will have access to private healthcare when you most need it. You can also speak to someone about your mental wellbeing if you ever need to.
– We’ve put in place a good pension scheme and we will pay above the minimum 3% contribution.
– If the worst happens and you pass away, your family will receive a multiple of your annual salary as a lump sum.
– When you need dental care; we have you covered.
Every business owner would say they care about the well-being of their staff but being able to say any of the above will demonstrate you really do care.
If a member of your staff receives a job offer from elsewhere but they don’t have the benefits in place, you have put yourself in a great position to retain them.
Now all of this does cost your business money, but most companies find they save money in the long run. For example, if you’ve provided a staff member with access to mental health aid when they need it, you may well save a period of leave. Around 12% of absentee periods in the UK are related to mental health conditions.
We are in a period now where access to care via the NHS has become more difficult. It is time for you to look at what you can be doing to help your employees.