Which Benefits Do Your Employees Want?
7th October 2021
The days are long gone when a salary was the main reason an employee will start a new job or stay in their existing one. 75% of employees are more likely to stay with their employer because of their benefits program. 80% of employees would choose additional benefits over a pay raise and 69% of employees report that they might choose one job over another if it offers better benefits.
We’ve come a long way from when ping pong tables and Friday drinks were good enough to attract and retain great employees. The employee expectation levels are now higher, the landscape is more competitive for employers. Additionally, there are now more options for employees to earn a living.
Personalised benefits are the norm, and a necessity to remain competitive when trying to recruit and retain employees.
So we know that benefits are vital to hiring and keeping employees happy and engaged, but what are the benefits that employees want, and how do you go about finding out this information?
Using platforms such as Trickle can help employers to find out which benefits their employees want. Guessing here isn’t a good option, particularly with the scope and granularity of data that’s available to employers today.
The bigger the workforce, the harder it is to have these personalised benefits. That’s why giving employees a wide range of choice, based on the strengths of the company, e.g. a fitness company leaning heavily into health and fitness based benefits that can be personalised to each person.
As generations change, the type of benefits that are desired by the workforce will change along with it. Using employee engagement platforms to regularly check in with your employees and see if the benefits are still suitable after time has passed.
Personalised benefits also enable a company to grow with them. The benefits that a 22 year old employee would want is likely to be different when that same employee is 32.
There is now a plethora of low cost, easy to use investment platforms, as well as the lower barrier to entry to start a number of side hustles. These options can now provide workers with another source of income, this means that money from a job is no longer as important as it used to be. This is despite salaries not keeping pace with inflation, which indicates that increasingly, for many employees – money really isn’t everything.
How Trickle Can Help You to Give Your Team Personalised Benefits
For companies, what is often forgotten is the fact that a business is only as good as the people who work for it. This means that hiring and keeping the best talent is something that needs to be taken very seriously. To do this, a company needs to get regular, detailed insights, that’s where Trickle comes in.
Run anonymous questions, celebrate achievements, empower your employees to use their voice for good, all with one easy to use platform.
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By giving your people a place to voice their suggestions & concerns when they need to, you’ll inspire a happier, more productive and loyal workforce.