Talented employees tend to look for more than the standard company benefits. But what kind of things will potential hires be impressed by, and what benefits will your employees find helpful?
In this blog, we are going to run through six employee benefits that you could offer, which you may not have already thought about. Obviously, the benefits you offer are personalised to your business, but this may get you thinking about adding some extra ones.
Home office payments or discounted internet plans
If you offer remote or hybrid working, it might be a good idea to offer a home office payment or money towards an internet plan to help out your remote work force. Not everyone’s houses are set up to support working from home, and the offer to help pay for things such as a desk or a faster internet plan could definitely go a long way.
By offering to pay towards these things, you’re showing that you care about your employees working conditions, therefore boosting employee satisfaction. As well as this, a functioning home office space will lead to increased productivity - so it’s a win win!
Health insurance
Paying towards private health insurance could be a valuable benefit for your employees. The focus on well-being both in and outside of the workplace is becoming increasingly prominent, and providing your employees with access to private health insurance is one way of showing that you care.
As well as benefiting your workforce with shorter waiting times and improved medical outcomes, you will also be benefiting the business. A healthier workforce will be more productive and less likely to ask for extended periods of sick leave.
Unlimited holiday or offers of sabbatical
Another benefit that is growing in popularity is the offer of unlimited holiday - meaning that your employees can take as much annual leave or sick days as they want. And it’s growing in popularity for a good reason. In fact, a 2021 study by Perkbox found that 70% of bosses think unlimited holiday is either a good or great idea, and 33% of employees agree unlimited holidays alleviate stress and burnout.
If you don’t want to offer unlimited paid time off, maybe consider offering sabbaticals to your long-term employees. A sabbatical is an extended period away from work, agreed between employee and your employer. They often last between two and six months, and can be used to volunteer, upskill or travel.
Offering sabbaticals or unlimited holidays is a great way of reducing burnout and ensuring that your employees stay motivated and focused.
Student loan assistance
Certain jobs require a university degree and employees that have graduated will often have a student loan debt. By offering some money towards a student loan, especially if the degree was necessary for the role, you are showing that you are aware of the financial strain and you’re willing to help.
Flexi-time
While it may not seem like a work-place benefit to an employer, the option to start at 11am and finish at 7pm may be life-altering to some of your employees, and will allow them to complete all of the necessary tasks outside of the working day!
Flexi-time makes no difference to the overall hours worked by the individual, but allows for a much greater work-life balance. As well as this, if you have someone that works much better in the morning, but switches off by 4pm, you will get a much better rate and standard of work from that employee by allowing them to start and finish their working day earlier.
Income protection insurance
Income protection insurance enables you to continue to pay some of your employee’s wages, even if they’re unable to work due to illness or injury.
Especially if you work in a particularly dangerous industry, such as construction, offering this benefit will give your employees a safety blanket and make them feel financially supported in the case of a long-term period of illness or injury.
From an employer's perspective, this also means that absences can be more effectively managed and (in most circumstances) group income replacement premiums count as a business expense.
How Wiltshire Friendly can help
Wiltshire Friendly specialises in income protection products for employers and their employees who are facing a loss of income due to illness or injury.
To find out how we can help you provide this attractive benefit to your employees, please get in touch with us today.