How to Nail Your Employee Benefits Package in 2019

As the year starts to roll to a close it’s a great opportunity to take stock of your accomplishments and to start to set some new goals for 2019. If you’re in HR, your goals will likely be related to the current state of employee acquisition and retention in your workplace. Whether you need to retain more middle management, hire more part time workers or scout and secure top executive talent next year, having a really strong benefits package is a vital tool in your arsenal.

Gone are the days where employees are satisfied with their allocated annual leave and festive bottle of wine, people want to be a part of something, believe in their company culture and feel like they are adequately rewarded for their time and hard work.

The good news is that improving your employee benefits package is easier than you might think.  Here are the steps you can take to make 2019 your best year yet!
 

Have you spoken to your employees recently about their benefits?

The start of a new year is a great time to carry out a company-wide survey to get some feedback from your staff about what they think is working well and what you, as a company, could be doing better. Not only will you get some great insight into their needs, you will also be strengthening internal communications and making staff feel like their opinion is valued.



Compile a list of benefits and incentives you currently offer and those that are available in the market and ask them to select those that would be of interest to them. You may well come out with some clear winners and can begin to scope out a new benefits strategy.
 

Support the January health and fitness drive with the right benefits

A new year evokes a sense of possibility and can feel like a clean slate on which to write new goals and dreams. Because of this there is a surge of interest in health and wellbeing in January, with many taking part in Dry January or starting new fitness or healthy eating regimes.

Be there for your workforce and be ready to support them in achieving their new goals. Consider what you are currently doing to promote wellbeing and where you would like to be. Do you have a cycle to work scheme? Cyclescheme enables employees to save 25-39% on a bike and accessories through salary sacrifice whilst seamlessly adding exercise into their daily routine.

As technology evolves, make sure you keep up to date

It’s important to make sure that your benefits package stays up to date with the needs and desires of your workforce. When the latest iPhone or laptop launches your employees will know about it and chances are they want one too.

Techscheme, powered by Apple and Currys PC World, is the UK’s most popular technology benefit. It allows your employees to purchase the latest tech, saving up to 12% on NIC. What’s more, they spread the cost of the item through salary sacrifice, which can be incredibly helpful for employees on lower salaries or those that want to purchase a tech gift for a loved one without swallowing the cost in one go. 

Remember that’s it’s not just the latest phone or laptop that will be of use to your employees. Owning a smart watch or fitness tracker can help with health and fitness goals. Equally, investing in Smart Home technology may help employees keep heating costs down or make their day to day home life easier.  
 

Make time for fun with a strong social calendar

Start thinking about all the fun ways you can engage your staff this year. Not only does having a good social calendar help with retention but it’s also an important part of your employer brand strategy for acquiring top talent.

There’s the big events like summer or Christmas parties that require venues, catering and rewards for prize giving but there are also plenty of ways you can boost morale throughout the year.

Would weekly or monthly company updates complete with drinks and snacks provide a great opportunity to recognise staff that have gone above and beyond with a gift card or reward to say thank you and motivate them to further succeed?

Draw up a calendar of the celebratory days you think would be right for your workplace and plan an activity that will help bring your employees together.
 
Interested in strengthening your employee benefits strategy? Find out more about how we can help by filling out the contact form or calling our team on  0207 419 8100.