Ever wonder about the return on investment on your employee workplace benefits?
Recent research from the University of Warwick confirmed that happy employees are 12% more productive and pay and benefits can make employees happy.
This can involve quirky benefits just as long as they are relevant and can be accessed by the majority of workers. Some unusual benefits that not only seem to be valued by employees are also enabling the employer to make headlines - so a PR boost as well as a productivity boost. For example:
- Scottish brewer, Brewdog gives employees one week's paid leave if they adopt a puppy or rescue dog - dubbed "pawternity leave"
- Apple and Facebook offering to pay to freeze female employees' eggs
- US firm Boxed paying a contribution towards employees' weddings
But benefits don't have to be quirky to work. Some of the oldies can also be goodies, such as offering a paid day's holiday for Christmas shopping, holiday buy-back, discounted eye care, private medical insurance, discount retail vouchers.
Getting a return on investment on employee benefits comes in 3 steps. It starts with understanding your employees, asking what they would value and using your spend to offer benefits that matches the majority need. The second step is communication, making sure staff know the benefit exists and how to access them. The third is to ensure employees understand all their benefits and how to use them.
'Pawternity' leave - firms with unusual staff benefits 27 April 2017