Motivated, Satisfied, Productive – How Your Company Can Utilize Employee Benefits

How would you like a brand new company car? No? Then what about a membership at a premium gym? Or maybe you’d rather have a fully funded pension plan? Think carefully – which of these offers would you most like to receive from your employer? More and more companies are using employee benefits to attract more applicants and hold on to engaged and valuable employees. The situation with today’s job market has only intensified this need: in the year 2011, 47 percent of managers in Germany seriously considered leaving their companies, and the lack of qualified employees in some industries is becoming more and more noticeable. While companies struggle to hold on to their most talented employees, they’re asking Your Company Can Utilize Employee Benefits

senior professionals searching for positions: What can a company offer you? It’s not just about salary anymore. Studies have found that employees most appreciate feeling valued by their employer – this kind of appreciation can be expressed in the form of employee benefits.

When you, as a senior manager, wish to hold on to your best employees or attract new talent, you should seriously consider the question of employee benefits. We’ll explain to you today which advantages employee benefits have for both employer and employee, which additional services are most attractive, and how to find the right incentives for your company. Learn from industry leaders like Apple and Microsoft, and find out how your company can utilize employee benefits.

What are the advantages of employee benefits?

It’s wrong to consider employee benefits as simply a “treat” for employees – they’re based on mutual usefulness for both the company, and its staff. When employees feel that their employer treasures their health, this creates a better work climate as well as an increased job satisfaction and motivation throughout the work day.

This, in turn, results in higher productivity, as well as a reduced error rate – a win-win situation. Employee retention is something that every company strives for. Any company that offers their employees certain benefits and flexible working hours demonstrates their appreciation for their staff, and ensures that the brightest minds will feel comfortable in the company for a long time.

In addition, companies can profit from their increased attractiveness to new employees, and position themselves strategically against the competition in the search for qualified candidates. And lastly, offering additional incentives also provides a financial advantage for companies – corporations can save money on their taxes.

Who offers which benefits?

Imagine if your company offered not only free catering, a gym, and countless other fitness options like bowling or volleyball, but they also provided time for you to pursue your own personal projects… This is just a typical workday for an employee at Google. Microsoft also spares no expense when it comes to keeping their employees healthy and motivated.

The range of added services spans from offering a multitude of insurance options to free medical check-ups, and even includes some vaccinations. In addition, Microsoft has their own fitness studio and allows employees to use them during work hours. Facebook, on the other hand, has other interesting benefits. These include a bike sharing program, as well as dry-cleaning services – besides providing organic catering and excellent IT facilities, of course.

But it’s not just the major corporations who care for the satisfaction of their employees. Here are some standards employee benefits offered by many companies. Consider the following:

  • Flexible work hours and home office
  • Childcare and daycare support
  • Hardware (Laptop, Mobile phone)
  • Memberships to gyms or sports clubs
  • Events or corporate trips
  • Employer funded pension plans
  • Fruit and gift baskets
  • Employer transportation, company car
  • Opportunities for further education

How do you create useful benfits for your employees?

Before your business rushes out to purchase a fleet of company cars or a thousand fruit baskets, take a moment to reflect on what values your company and its employees stand for. The best incentives are meaningless if they don’t fit your company.

What kind of image would you like to project to the rest of the world? Develop a concept based on your company culture, the business, as well as your personal politics, and don’t lose sight of this “image.” Talk to your employees and find out which additional benefits they’re wishing for. Is the office located outside of the city? Then perhaps catered meals, or a shuttle service is the right option for your staff.

Consider which benefits you’d like to offer your employees in the long-term – nothing looks worse than to offer incentives, only to take them away months later. In the time of Web 2.0, a plan like this would certainly backfire. And of course, the most important rule: Strive for transparent communication. Inform your staff from the beginning about all benefits that you plan on providing, and allow them to voice their opinions for the benefits that they’d like the most. Increase your attractiveness as an employer in the competition for the best talent, and increase the satisfaction of your current employees. The recipe for a successful business lies with employees who enjoy their work!

So, have we shown you how employee benefits could benefit your business? We wish you every success in finding the right advantages to create a better work environment, for you and your employees!

Experteer uses cookies. Information on data protection