Employee benefits are becoming a major recruitment battleground for businesses of all sizes. A recent study by PageGroup found that 78% of Britons would be more likely to apply for a job if it mentioned the benefits on offer, and this only goes to show that attracting the right talent to your business is so much more than just a decent salary.
Recently we have seen a pattern of SMEs struggling to retain their best talent, as they lose valuable staff to larger organisations with bigger pockets to invest in attractive packages.
To help YOUR SME become the employer of choice, we’ve got five innovative (and cost effective) employee incentives that will position you as a thoughtful, caring and respected employer in what is currently a very competitive market.
- Netflix subscriptions
Offer your employees a free Netflix subscription. Subscriptions reached an all-time high during lockdown, and now we’re all addicted to binge watching box sets and checking out the UK’s top 10 films. This isn’t likely to be a passing fad, since experts are predicting that coronavirus will result in permanent societal changes, with more people likely to spend more time at home.
2. Free employee helpline
Mental health related absence is the most common cause of long-term sickness absence in UK workplaces, with work-related stress, depression or anxiety accounting for 44% of work-related ill health. These stats are pre-covid, and early indications suggest that a mental health pandemic could be on the horizon.
Employers could adopt a preventative rather than reactive approach to mental health issues by offering their employees a free counselling helpline where they can pick up the phone at any time to an independent mental health specialist where they can talk through any issue confidently.
3. Employee Rewards App
One of the secrets of keeping your valuable employees is to recognise their hard work and reward them – and this really doesn’t have to be hard to implement.
There are many employee reward apps that your SME can sign up to with a huge list of retailers and restaurants offering employees attractive discounts.
You can also set challenges and polls for your employees to complete to promote a bit of friendly competition, while also drawing attention to the effort your employees are putting in.
4. VIP Parking slots
You could offer your employees a VIP parking slot for a set time if they achieve targets or do outstanding work. This could be a slot right outside your office (if you have allocated parking), or you could purchase a parking pass with a parking operator from a nearby car park.
5. Celebrate employee birthdays and work anniversaries
Celebrating your employee’s birthdays can make a difference to how an employee thinks about their workplace, particularly if they’re spending their birthday at work.
Whether you choose to buy in cupcakes for staff on their birthday or give them a gift voucher to their favourite store, it’s a thoughtful way to better engage employees and show them they’re appreciated members of the team.
Introducing some of these employee incentives and advertising these when you are recruiting will make you a thoughtful and celebrated employer. These small efforts and gestures could go a long way to help attract and retain the talent you want way beyond what a good salary has to offer.
We can help you brainstorm and implement some of these employee incentives on your behalf. Let’s have a conversation today about how we can help.
