8 Ways You Can Improve Your Employee Benefits In 2023

15 December 2022

8 Ways You Can Improve Your Employee Benefits In 2023

Employee benefits are a non-cash provision within an overall rewards package, and can be used by an employer to attract and retain good employees and to boost productivity, but also as a means of improving employee wellbeing, promoting inclusivity and recognising an employee’s value and achievements.

All these factors should help the employer as well as the employee, but there are ways in which the employee benefits package can be improved to offer more options to the workforce and to increase take-up by fully explaining the benefits and the process. Here we are taking a more detailed look at employee benefits schemes to explain how an employer can make small improvements in 2023 to ensure employees are getting the most out of the scheme.

  1. Helping with the work-life balance

In addition to schemes which offer a direct financial benefit to the employee, the range of benefits should also include lifestyle benefits, and it should be explained to employees how this can make more general improvements to their wellbeing. So it can be explained how childcare vouchers can help struggling parents balance work and home life and improve career aspirations while also raising a family. Gym memberships can help reduce work stress and promote better health, while an affordable car leasing deal on a zero-emission car can provide a lifeline for a family while also reducing their carbon footprint. In addition to all these benefits, of course there are financial incentives also.

  1. Offer one-to-one discussions

To ensure employees truly understand the potential benefits of a scheme, an employer should offer one-to-one discussions via HR to establish what kind of benefits would really help and which wellness needs would most closely match the benefits the employer is able to offer. This kind of individual care and attention ensures that the employee feels more valued and that their needs are truly being catered for.

  1. Communication

Look at the ways you communicate employee benefits and analyse whether these are the most effective. Some people are too busy to read every email, or they might zone-out during a presentation. Can you ensure that the concept, the application process, how the scheme works and all the benefits are properly explained and understood? And who is the best person to communicate the scheme? Who are people most likely to listen to? In some cases you may have to vary how and by whom the schemes are communicated.

  1. Inclusivity

You should be able to identify which areas of the workforce aren’t taking up the offer of employee benefits. So analyse this and try to understand why. It is important that every employee understands that benefits are open to them regardless of their position in the company, so speak with employees who are not engaging with employee benefits and see if there is something available that suits them.

  1. Explain all the benefits

On the face of it, some employee benefits may look attractive but if not all the potential benefits are explained, an employee may not be fully engaged with it. A salary sacrifice car scheme, for example, is not just a financial and lifestyle benefit, the employee also reduces their carbon footprint by driving a zero-emission vehicle, they are able to budget easier by only having one monthly motoring payment and they have a wide choice of brand new vehicles, which enhances their motoring experience too.

  1. Low-risk benefits

Where an employee shows a reluctance to engage with an employee benefit, it is often because they don’t want to commit to anything. Therefore you need to explain all the risks involved, and in the case of a salary sacrifice car scheme you can explain how this is low risk. There is no initial deposit to pay and the employee is not liable to keep the car and maintain the payments if they change jobs or lose their job. So there is very little risk in committing to the scheme.

  1. Cost of living

In the current economic climate where the country is in a cost of living crisis, it is important that an employer recognises their moral responsibility to help and support their workforce. And this is effectively what an employee benefit is. Even if a financial factor is the main consideration, it can be explained how other lifestyle benefits can relieve stress and anxiety through this very difficult period for everybody.

  1. Financial examples

Ultimately, of course, we know that financial factors are a big consideration for employees thinking about an employee benefit, so make sure you fully explain the process, the benefits and any implications. In the case of a salary sacrifice car scheme, the financial examples of different cars and how they are affected by different tax brackets can be explained and this shows the employee exactly how the scheme will affect them in the pocket.

Taking these factors into account should help you improve the service you offer your workforce through employee benefits in 2023, and if you need any further support and advice on a salary sacrifice car scheme then contact our expert sales team today.

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