Written by Guest Author | August 17, 2015
Pretty much any business owner calling upon a recruitment consultant in Exeter has heard about the importance of having the right leadership, company culture and organisational structure to inspire their employees to success. But what about the right benefits?
It’s not really fashionable to accept that money plays a role in a candidate’s decision to join a given company, but it is true, nonetheless. Obviously, the offered headline wage is a major consideration, but so are all of those smaller benefits that make up the whole package.
Attractive benefits can therefore be crucial in luring great talent, but the ‘benefits’ – as it were – don’t stop there. That’s because the right benefits package can also make an employee feel more valued by their employer and give them the support that they need to deliver their best performance.
Deciding on the most suitable benefits to offer
Your candidates and employers will most value the benefits that have the most real-world relevance and usefulness to them. To find out which these are, consult your present workforce, ask for their suggestions, observe current employee behaviour and scrutinise your company data.
From the outset, you can ensure the maximum relevance of your company’s benefits by building flexibility into them, so that your staff can use them precisely how they wish. This will make your workers much more reluctant to switch to another company where there are hardly any suitable benefits on offer.
Separating the relevant from the irrelevant benefits
You may offer your own employees such perks as flexible working hours, health insurance, child care facilities, gym membership, company cars, shares, bonuses… the list goes on. Other, less common, but still potentially valuable benefits include staff and family discounts, team building days, study leave, club membership and movie and event tickets.
The exact benefits that you choose to offer should be dictated by the actual needs of your staff. Workers in their late teens, for instance, aren’t likely to have too much interest in child care or life insurance, compared to more elderly employees or those with small children.
Similarly, company cars might be greatly valued by those who have just graduated from university, burdened with debt and with a need for their own set of wheels to get around. But they might not be such a draw for those living in a city characterised by strong public transport and limited parking.
Don’t underestimate the power of the right benefits to boost employee commitment, satisfaction and motivation – and with it, the results that your new hire can bring.