The Upside Of Employee Benefits

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A lot of businesses try to promote an image of themselves as caring, compassionate, ethically responsible members of the community. Whether or not this is true is another question, but the fact remains that they spend time and money cultivating these sorts of narratives because they appeal to customers. In fact, a study conducted last year found that Millennials are more likely to want to work with companies that give something back, either to charity, or to society more generally. However, the attempt on behalf of a business to make themselves appear in a philanthropic light could be interpreted cynically as a naked self-interest. There are not likely to be many companies out there which would completely give themselves over to good work because their greatest motivation is still money. The paradigm between an employer and an employee is often not as ostensibly selfless. The nature of a lot of employment contracts suggest a rather more ruthless utilitarianism. The employer offers a wage to the employee in return for work. It is simple and clear in so far as it is just a business relationship. However, if you run your own small business, you may want to think about treating your employees as you do your customers, or local charities that you sponsor. Whether you are motivated to do it out of kindness is immaterial. The reality is that is could be a good business decision that makes you more money. A study conducted recently found that happy employees are 12% more productive. This means that your business will work harder and you’ll become more successful. Here are a few ways of making your employees happier:

 

  1. Offer them health insurance. While the public health care system may be great, if you want to make your employees feel cared for, offering them private health services is a good idea. It can also save you money. In the UK, sick leave costs employers £29 billion each year. If your staff are better cared for, they may take less time off and that will help you. Another thing you may want to think about is offering them a way to fill their prescriptions more effectively. A company like Rx Outreach can offer a more consistent and reliable access to medicines. While these measures may sound expensive, they are simply a smart investment in your greatest resource: the people who work for you.
  2. The law mandates that women are allowed a certain amount of maternity leave and that they have a right to a part of their salary for that time. However, each business can use their own discretion when offering a package that may exceed this mandate. If you choose to offer a woman her full salary for a longer period of time than she is legally entitled to, you may be able to inspire greater loyalty in your staff. Offering paternity leave is important too.
  3. Offer them genuine opportunities for advancement. There is nothing quite as disheartening for a person as the realisation that unless they leave, they will never have a better job with more pay. Creating a structure or a program in your business to facilitate advancement is another great way to keep your employees motivated.
The Upside Of Employee Benefits