If you want to attract top talent, you can’t always compete on salary, but you can always improve employee benefits.
Providing them makes your employees feel valued and makes their working lives more enjoyable. A happy employee is a more productive employee.
In a highly competitive recruitment market, perks packages differentiate you from rival employers. Not only do they benefit your employees, but they also set you apart from your competitors.
Employee benefits do not have to be offered routinely to all employees – they can be daily, weekly, or even annual big budget perks. All UK businesses now have to offer staff pensions, which everyone pays into each month.
What office perks should your business offer?
You should consider what perks fit with your office culture and what benefits the staff at your company would find most valuable when deciding what employee benefits to offer.
Token efforts should be avoided, as they may appear to be perks, but seldom are used.
The employee base of media types in their 20s and 30s is unlikely to be receptive to the same perks as parents in their 40s and 50s.
Make your perks unique. Offering a wide variety of benefits will help you attract a diverse workforce.
- Paid time off for holidays and sick days
While it may seem obvious, many employers don’t offer paid sick days and holidays. In the absence of a paid leave allowance, many employees will find themselves underproductive and burnt out as a result.
If you want your employees to feel valued and to have the opportunity to relax and recharge, this is a must,even if you are a small company with limited resources. Long-term benefits will result from it.
- Free food and drink
It is inevitable that free food and drink will be appreciated by all. Keeping your employees fuelled and saving money is an easy win. Ensure that all dietary requirements are met by providing a variety of options.
Offering free, pre-cooked meals or a variety of basic foods such as eggs, bread, fruit, and cereals is becoming the norm, and coffee and water machines can be found almost everywhere.
- Exercise and activity classes
It’s not just your employees who benefit from keeping active and healthy. Stress can be relieved and productivity can be increased through exercise. They should limit how much time they spend doing that instead of working. Team members can also bond in a fun environment by participating in this activity.
Often, gyms or sports centers will only accept large, regular group bookings, which can be arranged through local gyms or sports centers. A company gym can be run by employees or external staff if it has its own on-site gym.
- Health insurance
Your employees must be happy and healthy if you want to run a successful business.
Small businesses can benefit from offering health insurance to employees, which makes it very appealing to recruits and helps to retain them.
It can also improve productivity and reduce absenteeism as well as protecting your team’s health.
Different types and sizes of businesses can choose from a variety of cover options.
- Perks for parents
You should do everything you can to ensure that parents at your company can juggle work and family life successfully, in addition to providing paid maternity and paternity leaves.
The childcare could be subsidised or provided on site, so that parents don’t have to worry about finding and paying for childcare themselves.
Children’s childcare vouchers, which can be exchanged for vouchers for anything such as nurseries, nannies, and after school clubs, are a government-approved method of paying for childcare. There is no cost to sign up and it is tax-free.
- Flexible working
Working from home and flexible working hours are among the most desirable perks for many modern workers.
You can adapt the schedule to suit the needs of your employees who may have different preferences. Due to technological advancements, workers can do almost everything they could do in an office remotely.
It will also help parents spend time with their children, and ensure they do not miss important events in their lives.
- Duvet days
Every once in a while, we should take a break from our duvets when getting up to face the world seems unimaginable.
As recently as a few years ago, this meant either coming into the office and underperforming or phoning in and feigning illness – neither of which is a desirable result.
You can offer your employees a duvet day at extremely short notice with no questions asked. It recognises that not all illnesses have physical symptoms – sometimes we just need to recharge our minds. With increasing awareness around mental health, duvet day was created to acknowledge that not all illnesses have physical symptoms.
- Paid-for holiday/Company away-days
Another great way to bond as a team is to take a paid holiday or go away on business.
In this way, your employees will be motivated to work towards the same goal if certain targets are met.
- Employee share scheme
Incentives and tax-efficient remuneration can be achieved by offering your employees an opportunity to purchase shares in your company.
Your employees’ interests are aligned with your goals and objectives since they have a stake in the company.
A share plan for employees does come with risks, however. The more people buy into the scheme, the more the share ownership will dwindle as the share price falls.
Can’t afford to provide employee perks?
Although many of the above employee benefits require a cost to your business, there are indeed several free employee perks that can be provided
Among them are:
- Transparency – It is essential to be open with new employees, as well as the existing staff, in order to create an environment of honesty.
- Praise – It doesn’t take much to make someone feel appreciated.
- Business performance – Greater performance increases the likelihood of attracting talent and retaining employees.
Frequently asked questions
What perks can I give my employees?
The perks you can give your employees are: Promote your employees' wellbeing through health and wellness programs and perks at work. Healthy vending machine or cafeteria options. Gym membership reimbursement. Required breaks (bonus for nap rooms, tea stations, etc.) Wellness activities like yoga, meditation, walking clubs. Standing desks (or convertible options)
What are some examples of perks?
Some examples of perks are: Paid birthdays off. Free food. Dog-friendly office. Flexible schedules. Event tickets & gift cards. Professional development. Fitness/wellness subsidies.
Conclusion
There are many different types of employee perks that a workplace can offer to its staff. Some popular options include flexible working hours, generous holiday entitlements, health and wellness benefits, such as private medical insurance or access to an Employee Assistance Programme, and pension schemes. Other perks that may be offered include company cars, season ticket loans, or cycle-to-work schemes.
Additionally, many companies also provide perks such as free snacks, hot drinks, and even weekly fruit deliveries, team-building events, or even company-wide away days. Some companies also offer discounts to certain retailers, gyms or on-site facilities such as hair salons or dry cleaners. Ultimately, the best employee perks are those that align with the company’s culture and values and are tailored to the specific needs and preferences of the workforce.
Lee Jones is a seasoned Business Finance Specialist with over two decades of invaluable experience in the financial sector. With a keen eye for market trends and a passion for helping businesses thrive, Lee has become a trusted advisor to countless organizations seeking to navigate the complexities of finance.