Job benefits are no longer considered a ‘nice to have’ as employees look for companies who offer benefits that help them grow their careers, obtain a healthy work-life balance and work more productively. As the war for talent threatens business productivity, it’s safe to say that workplace benefits have become more important than ever.
Benefits are no longer just about the salary or bonus on offer, employees are searching for employers that can offer them more job benefits as part of a comprehensive remuneration package. New research for the Robert Half Salary Guide has revealed which workplace benefits in the UK are rising to the top of the employee wish list and how many organisations are currently offering them.
Why are workplace benefits offered to employees?
Increased team morale
Employees that feel valued and appreciated are far more likely to be more productive and happier at work. Research by Robert Half revealed that feeling appreciated was the third biggest factor in employee workplace happiness in the UK. Therefore an employee job benefits scheme is an excellent way to show that your organisation appreciates the work of its employees.
Better wellbeing and performance
It’s a known fact that happy, healthy employees have far better output than stressed, overworked ones. An employee wellbeing programme or health-related incentive shows that your organisation is focused on an employee-first approach to work and gives them the support they need to work happy.
Higher retention
Research for the 2020 Salary Guide showed that nearly a third (32%) of employees would leave a role if flexible working was not offered, and 38% would leave to pursue a better work–life balance. Therefore talent retention is a top priority for business leaders who are now using counteroffers, new technologies, training and flexible working to reduce voluntary turnover.
Key employment benefits for 2020
1. Flexible working hours
One of the most popular employment benefits being requested is flexible working. This can come in the form of remote working, condensed working hours and flexible schedules. Recent research has suggested that if job candidates haven’t been offered flexible working hours as part of their remuneration package, they’ll request it before considering the role. At present, only 39% of UK businesses are offering flexible working hours to employees.
2. Training and career development
Training is incredibly attractive to professionals, especially junior members of staff looking to learn as much as possible. With this in mind, 38% of businesses have started offering it to help keep retention levels high. It’s so popular that almost a third (30%) of professionals have opted to learn independently from their workplace.
3. Bonuses
Bonuses have always been a welcome addition to the employee remuneration package. It’s such an attractive benefit that 40% of UK businesses have increased base-level salaries and bonuses to attract top talent.
4. Pensions
The focus on pensions is increasing for UK companies as more professionals begin to enquire about their potential remuneration package when interviewing for a role. Increased contributions are one of the ways companies are using pensions to keep prospective and existing staff supported.
5. Unique benefits
Besides the staple offering, employees will be looking for more unique workplace benefits from an employer, such as discounted gym memberships, games rooms or a tailored employee wellbeing programme.
Which job benefits do well-known corporations include?
Google offers its UK employees free food, among other perks. Keeping the staff kitchen stocked with snacks and drinks is a simple, yet effective way to make sure employees have enough energy at work and can be excellent for boosting morale.
Unilever offers an employee wellbeing programme to help keep them mentally and physically fit for work. This includes support for new mothers and a ‘People with Purpose’ initiative and workshop.
Paid volunteer days are becoming popular among UK companies, with The Body Shop being among the employers offering it to staff. It’s excellent for company branding and could stand to help staff feel more fulfilled on a personal level.
You can find out more about employment benefits by downloading the Robert Half Salary Guide or by getting in touch with the team today.
