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22 August 2022

An employee benefits package can be hugely important to employees but creating one is not as simple as you might think. If your benefits package is to be effective and deliver what your employees really want, it will have to reflect the values and culture of your business.

Employee benefits have been in the spotlight since the pandemic started because companies have had to understand what employees want, and in recent years, this has evolved rapidly.

Taking a step back when it comes to updating what you offer doesn’t have to be a challenge. This is because your package should be aligned with the diversity, equality and inclusivity values underpinning your business while ensuring it enhances their working life.

Your Company Culture and Diversity, Equality and Inclusivity

It is important for your business to look at what you offer employees on a wide scale; this is much more than simply looking at their salaries. You’ll also need to consider what employees get by working for your business and whether you can meet their needs individually. Do they feel a part of your business and feel valued?

When employee benefits meet the wide-ranging needs of your employees, only then are they considered successful. If you are unaware of those needs, you might opt for a benefits package that completely misses the mark and could work against you. Therefore, it makes perfect sense to have a solid diversity, equality and inclusivity policy in place to make sure you recognise the needs of employees.

Understanding Their Needs

One thing that all employees look at is the financial incentive of working for you. However, they are not just looking at the salary because they want much more. Ideally, they are looking for packages that support their lives, ranging from having duvet days to having flowers delivered on their work anniversary. As many of us focus on our health and nourishment, it’s important to ensure that we’re still getting enough of what we need at work. Offering soft benefits like free fruit and healthy snacks in the office is a win for everyone involved: your employees will be happier and healthier, and you’ll have happier, healthier employees who are more productive. Senior staff might prefer something that supports them financially, while younger employees might prefer something that benefits their young family or extracurricular activities. There are many different benefits that you can implement, such as working from home, which demonstrates that you trust employees but also a menopause policy that provides support to those that need it.

Cash plans are a good example of a benefit that can appeal to a wide range of your employees. Cash plans are designed to pay out for everyday health care costs such as dental treatment, eye tests, glasses/contact lenses, physiotherapy, chiropody and even preventive measures such as health screening. Cash plans are quick and easy to set up; they are a cost-effective way to reward and support your workforce and are a fraction of the cost of private medical insurance.

Get the Right Support

You might not have the scope to create a diverse, equal and inclusive policy in-house, but support is available for you to take advantage of. This is something that large organisations might consider as they are more likely to have several departments and staff that have different needs.

Furthermore, once you have a benefits package in place, there is no benefit from assuming that the work is done. It can help to revisit it every so often to see what is working and what needs changing as it might need to evolve to meet the ever-changing needs of your workforce.

You don’t have to tackle your Employee Benefits solution alone. Our team are on hand to answer your questions and work out what is best for you and your team, for now, and for the future.

For further information call 0208 189 6100 or email [email protected]