Employee benefits — what are they and what are they not?

Employee benefits are simply additional form of remuneration offered in addition to the basic salary. The most famous are, among others, sports cards (Multisport), language courses, additional training budgets or, for example, access to psycho-educational applications for the phone (such as e.g. Focusly within MultiLife). However, there are more and more forms of granting non-monetary gratification to employees, as this is an area that effectively analyzes and responds to the current needs of people.

In addition to the benefits paid by the employer, there are also benefits that do not require a cash contribution - for example, the ability to perform their duties remotely or flexible working hours. It is worth remembering that Non-wage benefits cannot be a form of compensation for inadequate remuneration. The benefits are also not the tools necessary to perform work, which, depending on the position, include, among others, a work phone or a laptop with Office package.

Is it worth investing in non-salary benefits?

Definitely yes!

Non-salary benefits:

• constitute an effective form of employee motivation - their implementation allows not only to encourage potential candidates to participate in the recruitment of our company, but also to motivate your current employees and keep them with you for longer,
• this A way to show your gratitude to your employees, as well as on stimulating their attention to the state of their health or mental and physical well-being,
• They allow everyone to be rewarded employees, regardless of their position and weight,
• thanks to affordability, huge diversity and easy access to this type of benefits are a good option for any industry.

Companies that offer a wealth of benefits are generally perceived to be more committed to the well-being of the employee. This is due to the fact that it is very important for both potential candidates and current employees to feel confident, appreciated and surrounded by care, which is made possible precisely by non-salary benefits.

A 2022 study by PeopleKeep — a portal that enables U.S. employers to implement benefit packages — found that 83% of respondents consider their availability to be one of the most important factors they take into account when looking for a job.

Benefit packages a ezmûna karmend Is it worth offering benefits to employees?

Erfahrung it's different employee experience related to the company, collected throughout the entire period of employment - from the recruitment stage to the separation from it. They can be both positive and negative, and many factors influence them.

How can benefits affect employee experience?

• Motivation and retention

An employee who feels that his work is appreciated by the employer is satisfied, motivated and above all — loyal. nowadays Employee turnover is a big problem, and a rich package of benefits can help us counteract it. Through our commitment to employee well-being and satisfaction, we have the opportunity to make them feel valued and cared for, reducing the likelihood that they will seek a better-rewarded position elsewhere.

A study by insurance company Aflac found that nearly half of 6,000 respondents plan to look for a new job if their current place of employment does not offer non-wage benefits or has little choice. Another study by Willis Towers Watson suggests that 78% of respondents believe they are more likely to remain in their current position if the benefits package is satisfactory to them.

• Productiviteit

Not only motivation, but also the well-being of employees translates into their greater productivity, and as you know — Greater employee engagement is a benefit for the employer. Many studies have proven that the quality of our work largely depends on how well we are rested and on the state of our psyche. One of the tasks of a properly designed benefits system is Supporting Employed People in Stress Reduction and stimulating them to spend their free time in a truly restorative and joyous way (e.g. through online yoga course).

By offering employees various types of non-wage benefits, we help to increase their productivity and commitment to their responsibilities. We also reduce the number of employees performing their tasks at an unsatisfactory level.

Availability of employee benefits This is an important element that future employees consider when recruiting. Offering various types of additional benefits — whether private medical care (e.g. in the form of Teleconsultation with a doctor), or even flexible working hours and developmental trainings (and by informing about them in job advertisements), we have a chance to stand out from the competition. Thanks to them, we will also attract more candidates interested in the offer, and as a result - valuable, future employees.

In addition to well-being Employees also want to feel safe and secure. Private medical care or access to consultation with a psychologist, which (especially in the current, economically difficult times) exceed the budget of many people - these are just examples of benefits that can help employees feel calmer.

Employees are aware that the modern labor market is so dynamic that Only people who are constantly developing can be certain of their jobs and invest in their skills, both linguistic and specialized. It is also increasingly desirable to support the employer in maintaining work-life balance and coping with stress.

A study conducted on behalf of insurance company Rogers Gray found that nearly half of 1,500 respondents found the company they were considering hiring far more attractive if the benefits packages were tailored to their individual needs.

Companies offering non-wage benefits are perceived to be more committed to employee well-being. The introduction of this type of benefits therefore has a positive effect on the image of the company, not only from the perspective of potential candidates, but also from the perspective of consumers.

It is also about an attitude that shows that the employer does not only care about profits, but has a much broader perspective. He is aware of the fact that he can have a positive impact both on the environment and on the entire employed community. Thanks to the benefits, it can work even more effectively in this regard.

It should not be forgotten that by taking care of our employees, we also take care of our customers. Satisfied, a motivated and positive employee is an excellent business card of the company, therefore good ezmûna karmend It is essential to the functioning of any organization regardless of the industry in which it operates.

Due to the difficult economic and economic situation, many working people deny themselves some of the benefits they need due to a tight budget. Supporting your employees during this difficult economic time will help us build mutual trust and respect, as well as raise psychological comfort of the staff, which is necessary to build and maintain engagement.

How to implement a benefits system in your company to improve employee experience?

First of all It is worth starting with an analysis of the needs of your employees - you can use a simple tool for this purpose - a survey. Such a questionnaire should include proposals for such benefits, for example from areas such as: health, nutrition, psychological support and development (in each of the packages MultiLife there are a variety of services that respond to the needs of precisely all these key areas of life of each of us). The results of such a survey will serve as a reference point for creating a benefit plan. The most important thing is that they are adapted not only to the company's budget, but above all to the individual needs of the people employed in it.

Let us remember that It's all about employee satisfaction, which is invaluable to any organization — a satisfied employee is not only more effective, but also contributes to strengthening the company's image among consumers.

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_{Bibliography:}

_{1. Ben Whitter, Employee Experience: Developing a Happy, Productive and Supported Workforce for Exceptional Individual and Business Performance, 2019.}

_{2. Jack Altman, People Strategy: How to Invest in People and Make Culture Your Competitive Advantage, 2021.}