Are employee benefits worth the bother?

OFFERING employee benefits can be a powerful recruitment tool and can help to create a more engaged and loyal workforce. I have said before that people are an organisation’s greatest asset – you need your people to achieve your company’s goals and objectives. Offering benefits to your employees is important because it demonstrates that you are invested in them and their future.

A solid employee benefits package can help to attract and retain employees and can also help your business stand out from your competitors.

Benefits are provided to employees over and above contracted salaries and wages. Generally benefits offered to employees in Guernsey can include paid holidays, paid sick leave, overtime, bonus schemes, profit share schemes, health insurance (medical, dental and eye care), pension schemes, death in service benefit, critical illness cover, gym membership and study support.

Some smaller companies and start-ups might not have the budget to offer benefits to their staff. When this happens it is common that salary levels will be compensated for this. However, there are other benefits and incentives that could be set for employees that are not as costly for a business to offer, for example flexi-time, seasonal hours, early Friday finishes, dress-down days, use of company cars, lunch or coffee delivery service to the workplace, fruit deliveries, staff rooms, wellbeing incentives and employee away days.

Regardless of what benefits are offered, employers should keep assessing them and engaging with their employees to get feedback to measure the impact. Offering benefits is one thing, but it is important that employers know which ones are adding value and which are not.