The clients’ problem
Early in 2021, we were approached by a small company that wanted to put together an attractive benefits package for any potential new employees that they may gain in the future. We knew that Laura would be the perfect person to undertake this task, so we quickly assigned her to the job.
Laura began, how we always begin a new project for clients and that’s with research. We looked at the company, got to know how their business worked, what they were like and how they operated on a day-to-day basis. To come up with the perfect benefits package for this company, we really had to spend the time getting to know them. We also identified the typical benefits offered by other similar-sized businesses in the same space to make sure we were at least matching with industry standards. This created a baseline to work from.
We detailed out the approximate cost of each option giving consideration to their budget constraints while giving the client as many options as possible to build the best possible package for their future employees. Understanding the company culture and values are key when identifying which benefits would likely appeal to their potential new employees, if they didn’t align with these then they would not be a good fit for their business.
We submitted the benefit options for the client to review, including a variety of free, low cost and higher cost choices. This ensured that the benefits chosen by the client would be both attractive to potential employees and fit within budget constraints.
Ultimately, the client chose a package that best fit them, their ethos and would benefit their employees.
The impact on their business
An attractive benefits package may help the client to retain their strongest employees by demonstrating their commitment to investing in their workforce. It also helps the company to be a more competitive employer within the marketplace as potential candidates weigh up all aspects of a package, not just salary, so having the right benefits package is key when it comes to recruitment and attracting top talent. Another business benefit is that it increases employee satisfaction levels amongst existing staff.