When you look at any successful business, the reason they got to the top and have floods of customers isn’t just down to luck. You’ll find such operations have a hard-working team of employees behind it, controlling every move and working to the best of their ability to keep the company thriving. If you’re a business owner, naturally you’ll want top talent by your side who share the same passions and values as you.

To grab the best talent, you’re going to need to pull out all the stops. One thing you can do is offer an array of enticing benefits. When you show how much you care about your employees, the hard working ones are going to want to stick around. Here are a few incentives you can provide to staff that can help in retaining top talent, boosting morale and productivity, and keeping your operation alive.

Want to Attract Top Talent

1. Flexible Hours

Flexible Hours

Gone are the days when the vast bulk of professionals would put in a Monday to Friday 9 to 5 working week. While this worked for some time, many employees found their working hours too restrictive. Thankfully, flexible working has become more and more common in recent years. This means staff have more say on what hours and days they work. After all, as long as everyone is putting in their 37.5 hours for the week, what’s the problem?

We all have busy lives outside of the office. The chances are you’ll have staff who are parents who could do with having more control over when they work. You could offer the option of remote or hybrid working too. These provide even more flexibility and allow staff to work from the comfort of their own home.

2. Training and Development

Training and Development

In the ever-changing business landscape, there is always something new to learn. When you bring new employees on board, keeping them up to date with the latest trends within your business is essential. If your team falls behind and uses out-of-date tech and software, you could be doing your company a disservice.

Offering plenty of training and software development programmes is key for boosting morale and retaining top talent. When you invest in your employee’s personal and professional development, they are sure to feel appreciated. It’s a win-win situation too as you will get a better-rounded team member.

3. Salary Sacrifice

Salary Sacrifice

Salary sacrifice (otherwise known as salary exchange) is an agreement you can make available to employees. This is where the employee agrees to a reduction in their bonus or salary that is equal to their pension contribution. In return, you will pay for the worker’s total pension contributions.

There are various types of salary exchange schemes you can offer employees. For example, leasing zero-emission vehicles to staff which Pink Salary Exchange offers. Their scheme allows staff to sign up and forfeit a portion of their salary from their monthly pay. In exchange, they can apply this amount to the lease cost of a used or brand-new electric cars.

4. Wellness Packages

Wellness Packages

If you haven’t got the physical capacity to house an on-site gym on your business premises, that doesn’t mean you can’t invest in your employee’s health and wellbeing. Instead, why not offer a subsidised gym membership? If your team are always sat behind a desk, this isn’t going to be great for their body and posture. It’s your job to encourage physical exercise which can motivate your team and help them be more productive at work.

Offering wellness packages not only has the added benefit of helping employees stay fit, but their mental capacity will also boost as a result too. You could partner up with a local gym in the area that staff can easily access. While this may seem like a costly perk, there are tangible benefits that could be beneficial long term.

5. Life Insurance

Life Insurance

Life insurance is a hugely popular benefit for some employees, especially those with children. For employers, it’s relatively inexpensive per capita and straightforward to implement in your business. In most instances, policies offer either a percentage or a set amount of the employer’s salary which is payable upon death.

Like with any insurance policy, there are exclusions that you need to be aware of. Businesses up and down the country offer life insurance to staff for numerous reasons. This benefit can attract and retain workers, lower staff turnover, boost employee engagement, and reduce absenteeism. If you decide to offer life insurance, just make sure you read the fine print and terms and conditions so you and your employees are on the same page.

It goes without saying – there are tons of perks you can provide for employees that can totally transform your business. From boosting morale to increasing staff retention, look into any of the benefits we’ve listed to check whether they can be seamlessly incorporated into your operation.

You may also like