Want to attract and keep your top talent? It’s not enough to simply offer gym memberships and life insurance. Employees are not the same as before. They’re used to personalised experiences in their daily living and have grown to expect the same from their work life as well. One way employers can satisfy this demand is via their benefits offerings.
Imagine this: If your employee gets the same power of choice in picking their benefits as they do when choosing what goes in their lunch sandwich (no pickles, please!), they will end up with the exact benefits they need and fancy. Every morsel of that benefit sandwich will be savoured with a smile. Sound good to you?
We’re sure you want to improve the experience for your employees, especially since it’s an effort that will work in your favour too. A Thomsons Online Benefits report found that 83% of the employees who said that their benefits have had a positive impact on their life, felt loyal to their employer.
But how should you go about it? What benefits are employees looking for?
Wellbeing initiatives, career progression and work-life balance are increasingly coming up tops on employee wish lists.
Throw in perks, like flexible working, generous parental leave, professional development courses, online meditation sessions or even baby classes, and you have a formula to edge out competitors.
Pro tip: take initiative even when local legislation lags behind.
Adopt a strategic approach when you invest in benefits, and you can look forward to optimizing costs and improving your organisation’s brand reputation in this competitive job market.
Do you already have a slew of great benefits but they’re underused by your employees? You’re not alone in this, many companies face this problem.
So how can we get around it?
First off, use simple language free of jargon when writing about your benefits. If they get it, they will use it.
Next, hosting this content on a user-friendly digital platform, accessible from various devices at any time, has also been shown to increase uptake. New hires and existing employees alike want to receive personalised communications, which accurately reflect their stage of life. For example, freshly-minted parents will expect to receive information about childcare leave and medical coverage for their newly-arrived dependent.
Keep in mind: one size may not fit all. Employees should feel you’re speaking to them as individuals, not just another cog in the corporate machine.
Make your employees feel valued. Allow and empower them to choose their own benefits mix. They’ll love showing off these benefits to their friends and social network. Soon enough, more will clamour to join your organisation. Win.
The world changes at such a rapid pace every day, so do your employees’ preferences. Don’t ignore the signs or you might get left in the dust. Keep in mind to invest in the right benefits for your workforce, choose the platform that best fits your employees, and communicate strategically so they understand and appreciate their benefits.
Get in touch if you’re interested to understand more about personalisation and flexible benefits, or how Mercer is helping other companies with their communication and branding strategy.