Ensuring that your workforce is happy and well cared for is vital to business success. When employees are happy, they are more productive, which in turn boosts company productivity.
One way to care for your employees is to offer employee benefits. With attractive benefits, your business will thrive with motivated, happy and appreciated employees. Not only this, but you are also likely to attract and retain top talent.
As time progresses, the employee benefit landscape will develop as your employees’ needs do too. Be reactive to these needs. If you don’t, there will be consequences for your business. In order to tell hen a benefit is no longer making a difference for staff by asking yourself:
How often are these benefits used?
If your employees aren’t making use of the employee benefits you are offering, they may not be satisfied with your reward structure. For example, if you offer reduced transport costs through a cycle to work scheme and nobody cycles to work, you might not be offering what your employees desire.
Online platforms such as our Smart Hive platform make it easier for you to engage with your employees’ benefit usage. Assess what benefits your employees are currently making use of and decide whether you need to change your employee benefit strategy.
Are you communicating enough with your employees?
You can actively find out if your employees are using your benefits by asking them! Take the time to understand exactly how your workforce feel about working for your company and which new benefits they desire. You can do this through both informal group meetings and annual reviews.
The Smart Hive platform allows your workforce to communicate with you about the types of benefits they want to see. Technological advancements and the development of platforms such as our Smart Hive portal mean that your employees can also offer and register their interest. This gives your employees the opportunity to communicate with you about their desires.
Are you retaining your workforce?
If your employees are constantly leaving and you’re having trouble hiring new employees, there may be something wrong with your reward strategy. Assess how your benefits are received by looking at your attraction rate. Are there still lots of people applying for your roles? If not, you may be missing key benefits that will attract new employees.
The everchanging landscape
Benefits are always going to be important to employees, and with the employee benefit landscape always changing, it’s vital that you communicate with your employees. At Busy Bees Benefits, our Smart Hive platform allows you to communicate effectively throughout your whole business regarding your benefits offering. Find out more and give us a call on 0330 333 9100.