Employee benefits are often overlooked by small businesses. It’s understandable. After all, you have your own business to worry about. However, employee benefits can be a key factor in helping you attract and retain the best employees possible. Catering to your staff doesn’t just help them feel valued; it also makes them better at their job. When your workers are happy, they work harder and more efficiently because they want to impress you with their efforts. Therefore, it makes sense to understand what employee benefits can do for your company and how you can offer them as a business owner.
Salary Sacrifice Car Scheme
Salary sacrifice car schemes allow you to offer your staff a car loan that is repaid through their salary. This is a good way to assist your staff with purchasing a car, especially if you don’t have a car purchase scheme available. This is a flexible scheme that allows your employees to select an electric or hybrid car that they want and use the scheme to help them purchase it. This salary sacrifice scheme works in a similar way to other schemes you may have come across, such as the ride-to-work scheme, and be a great way to help your employees not only get to work while reducing their carbon footprint but help them save on other travel costs.
Group Income Protection
Group income protection is a type of insurance that protects you and your employees if one of them becomes ill or injured and is unable to work. Group income protection is often overlooked by small business owners, but it’s a type of insurance that every company should have. It’s important for you to offer group income protection to your employees because it can help them deal with financial difficulties caused by health issues or other reasons they may not be able to work. When you offer group income protection, you help your employees deal with these issues without any added stress on their part.
Corporate Health Insurance
A good health insurance policy for your employees can be extremely helpful. It can cover the cost of any medical treatment, as well as any expenses your staff may incur as a result. An employee health insurance policy can also cover the cost of prescriptions, dental work, and specialist treatments such as physiotherapy or counselling. It’s a great employee benefit to help any employees who may be in need of urgent care but are currently stuck on long NHS waiting lists.
Mental Health Support Services
Offering your employees access to mental health services can be a great employee benefit. It can help your employees who experience a mental health condition or who are caring for someone who does. It can also assist employees who work in an industry with a high risk of mental health issues, such as social work or nursing. When your employees can go to someone to talk about their issues and receive counselling or therapy, they can return to work feeling refreshed and much better in general.
Employee benefits are often overlooked by small businesses. However, they can be a key factor in helping you attract and retain the best employees possible. Employee benefits can help your staff.