In today’s job market, employee benefits are a key consideration. Despite this, some organisations struggle to provide a compelling benefits and wellbeing package. Factors such as the cost-of-living crunch and remote working have highlighted the importance of providing a range of employee benefits, and how these can positively contribute to an employee’s experience. The challenge for employers is creating a benefits offering that meets the diverse needs of their workforce while prioritising accessibility and communication.
So, how can organisations create the perfect employee benefits package? Read on to find out about the comprehensive solution to all your employee benefit needs.
What Are Employee Benefits and Why Are They Important?
Firstly, it is important that employers truly understand what is meant by employee benefits. Also known as perks or incentives, benefits are non-cash provisions provided to employees in addition to their wages.
Examples include, but are not limited to:
- Mental health support
- Discounted gym membership
- Pension schemes
- Cycle to Work schemes
- Travel and Leisure savings
- Everyday retailer savings
With employee benefits coming at a cost to the employer, why is it so essential to offer them? Well, it’s no secret that it’s a competitive market out there. To attract and retain the right staff, an employer should be able to support their people and show them they are valued.
Employee benefits are an effective morale booster. According to the CIPD, investing in employee wellbeing can also improve employee engagement, productivity, and reduce sickness absence. However, in order for your employee benefits to have this impact, they need to be tailored to fit you and your people.
What Should You Look for in an Employee Benefits Package?
Most of us have heard the term quality over quantity. But in the world of employee benefits, quality and quantity matter. People are not all the same; their needs and motivations differ. Therefore, your employee benefits offering should be high-quality, diverse, and flexible. An effective employee benefits package should stand the test of time and adapt well to a fluctuating climate and the needs of the people it supports. In today’s climate, for example, it’s vital that employers offer their staff support to help manage the rising cost of living.
Having an employee benefits platform that meets these criteria is important, but the value is lost if uptake is low. Investing in employee benefits is successful only if your staff can access them and benefit from them. To achieve this, organisations must remove all the barriers that might deter employees from interacting with these benefits.
Some of the main engagement barriers organisations face stem from inefficient communication of the available resources and difficulty navigating the processes. Having a single platform that integrates all your benefits can help combat these issues by:
- Enabling you to facilitate effective communication on what is available, where to find it, and how to use it
- Reducing navigation issues - particularly if the platform is user friendly and intuitive
Using an all-encompassing benefits solution can help increase uptake and engagement of the benefits and, in turn, boost morale, productivity and engagement.
Introducing an Award-Winning All-in-One Solution
As a multi-award-winning benefits provider, Vivup have been perfecting wellbeing support for over 18 years. We partner with employers from both the public and private sectors to support their staff and empower workplaces across the UK.
We offer a diverse and evolving range of employee benefits which can be accessed from one central online location. Thanks to its no-nonsense navigation, the bespoke Vivup benefits platform is a convenient and easy way for your team to enjoy a comprehensive, customisable suite of benefits whenever, and wherever, they need support - 24/7, 365 days a year. It can even integrate external providers, so accessing all your benefits couldn’t be easier.
From Lifestyle Savings, Home and Electronics, Employee Assistance Programme, Family Care, and more, we offer the tools and resources to boost your employees’ mental, physical, and financial wellbeing.
The all-encompassing solution is easy to integrate and, with the ability to add to your employee benefits offering, can grow alongside you and your people’s changing needs.
Sources
https://www.cipd.org/uk/knowledge/factsheets/benefits-factsheet/#employee
https://www.matchr.io/6-employee-benefits-that-boost-morale-and-improve-retention/#:~:text=More%20than%20just%20an%20add,appreciation%20and%20help%20boost%20morale.
https://www.cipd.org/uk/knowledge/factsheets/well-being-factsheet/#:~:text=Investing%20in%20employee,and%20people%20management
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