In today’s fast moving world, finding highly motivated productive employees for your business can be challenging.
Firstly you’ve got competition, particularly in sectors which rely on highly skilled and motivate people. The reality is that is as much as you want ‘good people’ to join your business so do other firms in your sector. In certain sectors (if not all sectors) having good people to help support and develop your business goals isn’t a ‘nice to have’ it’s a ‘must have’.
Secondly you’ve got to ensure these individuals feel motivated to do their jobs and feel rewarded. Whilst recruiting good people is a challenge it’s important to retain good people in order to continue to achieve your business goals.
Thirdly you’ve got to focus on ensuring your employees are productive. This again is partially about motivation and reward but it’s about more than that. It’s about ensuring the working environment is the best place to perform their roles, it’s about ensuring that employees have the tools and support to be really productive and it’s about ensuring that distractions are removed as much as possible.
However the reality is that there are three simple things you can do
It’s interesting. When we speak to employers about why they have decided to provide the specific portfolio of employee benefits they’ve chosen they provide a range of answers.
Some will tell us that it’s ‘always been this way’
Others tell us that ‘that’s what we believe other firms provide’
Not very often do they say…
“We asked our employees what they’d value and built a package based on that”
I’d simply suggest that if you’re aiming to build an employee benefits package designed to recruit, reward and retain the employees which will help your organisation…it’s probably worth asking them what they value in an employee benefit package.
It’s such a simple point but one which is only too often overlooked…employers benchmark against other firms and retain legacy employee benefits package and agonise about what benefits they should provide to their teams but don’t ask their staff about what they want often enough!
I’d suggest that even if you’re happy with the package of benefits you provide to your employees you should review this at least annually…certainly in conjunction with an annual exercise where you ‘ask’ employees what they value most.
If you didn’t want to ask employees directly but do want to understand what Employees value it’s worth looking at the ‘take up rates’ of each benefit you provide (a decent flexible benefit platform should provide you with this data if you have one…if not you should be able to source these statistics).
Obviously the benefits that individuals are engaged with and actively using you might want to keep. For benefits with a limited (or no) employee take up you might want to consider replacing the benefit with benefits which might be valuable (after a period of engagement of course)
However it’s also thinking a little bit about some of the additional challenges your employees might face…
It’s worth giving some thought not only to exploring what’s available in the conventional employee benefit space but also in exploring some of the new ways you can help employees.
You see previously employees have been provided with a suite of benefits traditional in nature. This can range from cycle to work schemes, life cover, private healthcare, season ticket loans and childcare vouchers.
There is absolutely nothing wrong with these benefits and certainly some of this will form part of your employee benefits package for your team.
However it’s also worth thinking a bit deeper about what might be valuable to your staff.
You see a decent number of the employers we engage with are thinking about how they can help employers live better lives and improve their wellbeing in two main areas, health (both physical and mental) and wealth (financial wellbeing).
We believe this focus on wellbeing will increase in frequency as modern employers start to understand that delivering benefits which provide their staff with greater levels of wellbeing means more productive and motivated staff.
It’s one of the reason we recently launched www.cervellofinancialwellbeing, the service designed to support employees have the information they need on their money at their fingertips and employers with more motivated staff.
If you’ve been thinking about this for your organisation…feel free to give us a call. It’ll be good to chat!
You can call us on 01708 606202 or you can email us at firstname.lastname@example.org