There are many factors that shape a successful business, but arguably the most important is your employees. No matter your company size or industry, looking after the health and wellbeing of your employees will help keep them happy, which is essential for building a thriving workplace.
Did you know that 91% of employees think that businesses should offer tailored benefits packages, according to recent research? In case you need more convincing, in this blog we will be looking at the advantages that an employee benefits package can have on your most important asset – your people.
Boost Employee Engagement and Morale
Showing your employees that you care can be a sure-fire way of boosting employee engagement, whether that’s giving them more flexibility to do the things that matter most to them or helping them to lead healthier lifestyles.
A company that does nothing to engage their employees, such as not providing any wellbeing support or offering little, or no communication about the employee benefits that they offer, is far more likely to have disengaged employees working for them. In turn, employees are usually less productive, which could have an adverse impact on your business’s bottom line in the long run. On the other hand, if you take care of your employees, they will take care of your business in return.
Promote Employee Wellbeing
If employees have health or financial concerns, they are more likely to be distracted at work. They may even lose sleep over their worries, which will seriously hamper their focus.
Providing a good employee benefits package to suit your employees, including offering benefits such as Group Life Assurance, Income Protection, a Cash Plan Scheme – which will give them money back just for treatment at the dentist, an eye test at the optician, physiotherapy and so on, as well as financial education and support, will encourage employees to proactively look after themselves. It will also give them peace of mind that should something happen, they will be looked after by you, their employer.
Elevate Your Team’s Productivity
Companies generally don’t usually think twice about corporate expenditure that may improve output and increase results, such as new technology systems. However, a recent study by the University of Warwick showed that increasing employee happiness can boost productivity by around 12%. This highlights how putting employee wellbeing at the heart of your workplace can be crucial to long-term business success.
Are You Ready to Invest in the Wellbeing of Your Employees?
It’s worth considering that employee benefits are no longer a ‘nice to have’, they are an expectation of the modern workforce. In fact, a recent report by MetLife identified that 68% of employees think that their employers have a responsibility for the health and wellbeing of their staff.
Addressing the needs of those at the centre of your business will boost morale within your workplace, encouraging employees to take their jobs more seriously and helping them to produce their best work. That can only be a good thing for your business.
If you need advice or have any questions, get in touch with our employee benefits team on 02920 858611 or email nia.rogers@thomas-carroll.co.uk.
