In a candidate-led market where employers are increasingly operating in a landscape of talent shortages, offering a modern mix of employee benefits is essential. This is particularly crucial in the informatics industry where the right technical skills are in high demand.
Employee benefits are no longer seen as a nice-to-have but make up a serious part of the offer of employment. Not sure where to start? Read on for our recommendations.
Ask the team
For any organisation, taking the time to ask your employees what they’d like to get out of their career is a simple but effective way of deciding which benefits will suit both the business and the workforce, particularly as expectations have changed over the last few years.
Carrying out surveys or running a Q&A session with your current staff could be a useful method of research into the benefits they would like. This gives employees the opportunity to provide feedback on the company’s current benefit offerings and suggest new benefit preferences. The goal is to find a strategy that fits your budget and aligns with overall business goals.
Reward and recognition
Part of the additional benefits offering could include bonus incentives, as they allow employees to reap the reward of hard work and company growth. It also helps to reassure each member of the team that their contribution is valued. Not every recognition has to be financial. Many organisations award employee of the month and publish inspirational staff leaderboards to boost office morale. According to Workhuman, businesses experience a two times lower turnover for employees recognized 7-10 times annually.[i]
Consider flexible working
Since the Covid-19 pandemic shifted our perception of the workplace and new, efficient working practices were born, there has been a sustained transition towards remote and hybrid working. With many companies offering work-from-home days as part of the contract, it is important for companies to consider this change in candidate expectations and review their policies accordingly.
Flexible working appears to be the most common option, with 65% of employers offering employees flexible working arrangements as standard.[ii] This facilitates a work-life balance, which in turn contributes towards reducing absences and staff turnover. For employees, the ability to work remotely also saves potentially hours of time and travel expenses.
Research shows that employees want, and even expect, flexibility in where and how they work, with 37% of organisations reporting an increase in requests for flexible working.[iii] If fully remote working is not feasible for your business, consider hybrid arrangements that offer the opportunity to work a few days each week from home. Knowing your limits as an employer is essential in devising a flexible working plan that balances the needs of your employees and your company. For example, some organisations are measuring the viability of the four-day working week as an alternative to remote working.
In informatics, the nature of the role means that much of the work can be carried out remotely, so it’s worth considering the resources available and the expectations of candidates in this field to determine whether this is something you want to offer.
Prioritise health and wellbeing
Investing in employee wellbeing is vital in today’s job market, as work-life balance and burnout are high on the news agenda across multiple industries. In the short-term, investment in employee health and wellbeing shows that you understand the duty of care as an employer, can help to decrease daily absences, and encourages open communication and trust amongst the team.
An area to consider could include appointing workplace health ambassadors to work alongside your HR team to put mental health support into action. Having someone to offload any work pressures to means that staff are less likely to turn to absence or resignation.
Create a friendly, social environment
A sociable and friendly work environment plays a large role in retaining and attracting new talent – and this is particularly relevant as remote working continues to rise. Regular social get-togethers like quiz nights or team-building activities are highly motivating and are key to a collaborative and successful workforce. Organising annual team events gives employees a chance to socialise with the wider team, who, in larger organisations, they may not otherwise meet.
Maintaining a positive company culture means that staff are more likely to stay with the business for longer, which in turn boosts office productivity. Ultimately, prioritising the benefits that offer widespread appeal will result in a motivated, successful, and productive workplace.
For help with your talent acquisition and retention, contact our team.
[i] 3 key data points: the immediate and long-term ROI of social recognition, Workhuman, 6 February 2023. Accessed 13 July 2023.
[ii] 50 Employee Benefits To Increase Staff Retention | Startups.co.uk, Startups, 28 June 2023. Accessed 13 July 2023.
[iii] An update on flexible and hybrid working practices | CIPD, CIPD, 26 April 2022. Accessed 13 July 2023.