Employee Benefits are becoming more and more popular across workforces who are looking to bring on the best talent in the market, keep hold of their most valuable assets (employees) and keep up with the rest of the market.
Charlie Cousins the Director of Hooray Health & Protection who specialise in employee benefit insurances for SME’s tells us “ We deal with a number of companies who provide employee benefits for their staff but it’s never a one size fits all approach. Each company is unique and will have different requirements which will vary depending on your business and its staff. Speak to your staff first and find out what they want from their employee benefits packages”
We have put together three of the main reason companies provide employee benefits for their staff and what benefit it has to your company
Attract the best talent
The job market is set for a change and we are looking to have a record four million unemployed in the UK by the end of 2020.
When interviewing new staff, you want to ensure you have the best benefits package in place to entice the best talent in the market
Retain your star workers
When you build your team and train them to be the best, they can be it is devastating to lose someone, and your best staff will always have the competition attempting to poach them.
Offering them benefits which they potentially would not be able to take out without group benefits (health or life insurance) will build trust and help you retain the best talent.
If you consider that happy employees are up to 20% more productive as a business owner it would be ridiculous to not do everything you can to keep your employees happy and wanting to come into work for you.
Offering employee benefits shows them that you not only care about them and their family but you are actively promoting wellbeing in work via the number of employee benefits on offer.