Offering lifestyle benefits to employees can benefit both the business and employee. There are many advantages to offering Lifestyle Benefits to your employees. Among these added incentives are the fact that you will keep your best employees.
Keeping the best employees on the team is a good practice as the top businesses always have the top players. Lifestyle benefits for employees has been around for a long time. However, these days there seems to be a different perspective on the offering.
Lifestyle benefits are not one of those perks where one-size-fits-all. Offering tailored lifestyle benefits promotes greater transparency, keeps costs under control and helps a business to save money.
The advantages of offering lifestyle benefits are clear. One of the most popular benefits is the ability to enable your staff to buy or sell annual leave. Many employees do not need the full 25 days or so during the working year, so they would rather take, say, 20 and get paid the five sold back to the company.
There are employees who would wish to take more than the days allocated. Perhaps they are going on a long holiday overseas with the family and need more time off. This extra time can be taken by the employee buying them off the company.
At Flex Genius – a business offering lifestyle benefits solutions – they have an ingenious concept where cycling to work will actually pay. Businesses can do deals with cycle manufacturers to enable staff to purchase cycles and cycling equipment at reduced rates.
This flexible benefit not only does some good for the employee, but it helps the environment too. Childcare voucher schemes are one of the more popular schemes enjoyed by staff members with young children. A reduction of the cost of childcare is always very welcome news to those bringing up a family and bearing the cost of having their children looked after.
Keeping the Best Staff Members in your Corner
A good company only get to be so great because it has a pool of workers who are the very best and talented players. Unless they are made to feel rewarded, there is always that risk that they might transfer to another employer; or worse, a rival.
Lifestyle Benefits are tailored to suit those individuals that actually need it. If you offer the right benefits to the best employees, word will get around to other key staff talent that your company is the best in the business to work for.