Before you get started, we have compiled a list of 10 tips (5 do’s and 5 don’ts) when it comes to establishing a successful employee benefits scheme:
Do be transparent
Being too vague about the benefits can have a negative impact on not only employees’ perception of the company, but also their relationship with the company too. During a job interview, if a candidate asks about the benefits, it would be a good idea to be completely transparent about the benefits that you offer.
Do motivate employees to take advantage of them
Although some companies offer a wide number of benefits for their employees, these are sometimes overlooked or forgotten about which is why it’s important that you motivate and encourage employees to reap the advantages of the employee benefits scheme.
Do customise benefits according to employee needs
One report discovered that 74% of employees would work harder for employers who offered more tailored benefits, showing that productivity can be boosted if you focus on customising and personalising benefits according to employees’ individual needs. This is something to consider if your company has the resources to manage this.
Do set up clear guidelines/policies
Similar to being transparent, setting up clear and comprehensive guidelines and policies regarding the benefits scheme is not only useful for your employees, but useful for HR to keep track and monitor the scheme as well.
Do make it easily accessible
How can a benefits scheme be successful if the employees can’t even access it? Whether that’s through a website, app, or other, ensuring that your employees have access to the scheme enables them to start using the benefits offered.
Now onto the 5 don'ts…
Don’t skip basic benefits
Basic benefits such as employee insurance, paid time off, maternity/paternity leave etc. shouldn’t be overlooked. Ensure that basic benefits that the majority of employers offer as a standard are also included.
Don’t provide irrelevant ones either
However, don’t make the mistake of providing ones that are irrelevant to your employees. For instance, if your workforce is primarily remote, then offering a cycle to work scheme as an employee benefit probably won’t be used nor effective.
Don’t forget about it
Whilst you could probably carry on for weeks to months to years without looking at the scheme again after it’s implemented, it’s a good idea to review and reassess the scheme every now and then since employees’ needs can change and evolve.
Don’t leave your employees wanting more
A successful employee benefits scheme satisfies and meets the needs of the organisation’s employees, hence why it is called ‘successful’. As a result, you’ll want to avoid leaving your employees wanting more from the scheme, which is why it’s ideal that you pay attention to their needs.
Don’t be misleading
If your benefits scheme states that it includes extra paid time off, then make sure that you actually offer this instead of having conditions that must be met before this benefit can be redeemed. That is not an employee perk - it is an employee reward!