Investing in attractive and distinctive corporate benefits packages is essential for attracting and retaining talent in companies. In addition, the choice of benefits offered can be a strategy to motivate and generate employee commitment, increasing their productivity and competitiveness.
It is well known that currently, the salary to be received is not the main indicator that employees take into account when looking for a new position. People are also looking for challenges and, above all, quality of life, both in the company and in their personal lives, which is why a good corporate benefits package is extremely attractive.
Corporate benefits also help to reduce the turnover rate. They also serve to foster a positive work environment, making people feel valued by the organization. All of the above favors the company’s productivity and competitiveness.
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Corporate Benefits Recommendations
The benefits policy has to be aligned with the requirements of both parties: the employer, who wants to increase the motivation and commitment of his employees to increase their productivity and competitiveness; and the employee, who seeks certain benefits to satisfy his personal needs and work in a favorable work environment.
Therefore, we must carry out a prior analysis and planning to determine the corporate benefits that should be offered to meet the needs and objectives of both the organization and its employees.
Knowing the target audience
Before deciding which benefits will be offered to employees, it is also necessary to know what they consider important for choosing to work in your company. This is essential in offering a more personalized and attractive corporate benefits package.
Pay attention to legislation
Before starting to design a benefits plan, you should be aware of and pay attention to labor legislation. Some conditions are mandatory by law and are therefore not considered as benefits granted by the company. Some others may have already been defined or negotiated with the unions and must be respected. And those that must be paid in cash, such as certain bonuses or compensation, may be subject to taxes or other charges that generate an additional cost in the benefit.
Be transparent in HR policies
The benefits package is sometimes the most important factor in keeping employees with the company. Therefore, the more relevant the company is to this element, the greater the chances of attracting and retaining valuable talent.
The organization must be transparent about the benefits it provides, to whom they are offered, and under what conditions. When the employee chooses to work for a company, he/she should be clear about what he/she will get in return for his/her commitment to the company.
It is also important to inform the employee of the level of benefits that will be available. For example, in health insurance policies, the company usually offers different levels of plans according to the employee’s position or role.
Focus on quality of life
People spend most of their lives at work. Therefore, having a good quality of life in the office is essential for people’s well-being. The role of the HR area is extremely important to generate a favorable environment so that employees feel motivated to dedicate their time to the company. The quality of life at work must be promoted equitably.
For that, it is necessary to think about benefits in a strategic way. A career plan, fair compensation, a favorable work environment, and efficient internal communication are essential to give employees a sense of peace of mind and generate commitment.
In addition, other options can offer added value to the employee and help the company promote quality of life internally: flexible or reduced working hours in some situations, the possibility of working from home or leaving work early to devote to personal projects, access to sports centers or offering different services in the office, among other examples.
Offer flexible benefits
Implementing a flexible benefits program is an alternative for employees to choose the benefits that best suit their needs. In this way, the company determines an investment value per employee, and they, in turn, can choose how to distribute it among the available benefit options.
Aside from helping to direct the company’s investment in corporate benefits more efficiently. This model develops the concept that the employee is an active part of the organization’s decisions. Thus, flexible benefits can be an important differentiating factor in attracting and retaining talent.
When making an investment, clear goals must always be established regarding the expected return; this is no different when it comes to personnel management. This being so, it is essential to measure how employees evaluate the benefits package offered by the organization.
Satisfaction surveys are a good alternative for evaluation since they provide valuable information to determine whether the investment is generating the expected return and increasing the employee’s perception of their quality of life at work.