- CC Flickr.com/emurray
What with rising taxes and inflation, low interest rates and unemployment increasing with some young people disillusioned about ever finding a job, employee morale is in danger of plummeting to the lowest it’s ever been.
Bearing this in mind companies are looking for cost effective, efficient ways to attract and retain members of staff. When it comes to employee benefits how do companies make sure they’re selecting the most suitable programme?
If you’re thinking of looking at outsourcing your benefits scheme then there are a number of key points you should have covered.
1) Finding the right service provider. Getting the right deal is vital, finding the provider who is willing to develop a package which is tailored to your companies requirements.
2) Find out what your employees require. Offering benefits which target what your employees need, many companies offer what they see as wonderful incitements but if they don’t reflect what staff see as valuable and worthwhile then they’re a waste of time and money.
3) If you want to find out what your staff see as a priority, ask. There may be things which your provider or you think will be excellent benefits and bonuses but if they aren’t targeted correctly they won’t have the power you intended.
4) Don’t fall into an ‘Us and Them’ scenario. Seeing management receiving benefits and bonuses to which the lower employees aren’t eligible is no longer seen as an inducement for the rank and file to work their way up in the company. Instead, it’s seen as divisive since people want to see that management understand that times are hard and we need to pull together to keep the business afloat.
5) Dialogue. Making sure that employees and staff are aware of the benefits that are available to them as part of their offer is essential. Ensuring that communication is correctly targeted at current and potential employees using multiple media channels is an important way of letting staff know you’re looking out for their interests.
6) Adapt and revise. The benefits that are suitable this year might not be suitable next, and the same goes for last years benefits in relation to this. Revising what you’re putting in your benefits package makes it more appealing and valuable both as a cost benefit to you and an inducement to staff.
7) Information and education. Make sure that your staff know what is on offer, why and how it will be of benefit to them. If you’re in a position of having to cut salaries, make sure that people understand how they can get tax benefits and credits.
Recognise and personalise. If you’re able to reward employees on an individual basis by offering a range of benefits provided by a number of suppliers so that there is something for every-one.
9) Generate a positive reputation. By generating a good reputation, preferably by word of mouth, is a great way to engage with the employees. Introduce advocates and ambassadors for the schemes that you’re offering so that they can encourage employees to get involved.
10) Think creatively. As there are so many benefits and benefit schemes available on the market you should be creative in order to source the best benefits you can. Creating a positive message means that your employees can see that the company is considering their needs and pro-active in their approach to getting feedback.
Dan Cash is a feature writer currently looking at prospects in 
