How can an Employee Benefits Scheme drive the productivity levels in your business?

A happy and healthy workforce is a productive workforce, right?  This might sound a bit of a glib statement but when you stop to think, it makes complete sense.  If staff are fit and healthy they are far more likely to attend work regularly; if they are happy at home and managing to balance the family finances, they are far more likely to attend work with a mindset that will enable them to give and perform at their best; if they feel supported and valued by their employer, they are more likely to reciprocate by showing commitment and loyalty.

This is all well and good but keeping staff happy sounds expensive.  In these times of an uncertain future with the slump in consumer spending and business investment, predictions of low economic growth, not to mention Brexit – surely very few business leaders will be prioritising staff happiness in their own business plans.  But at what cost?  Losing good staff?  Diminishing motivation and morale of their team, resulting in lower performance and productivity? Doesn’t this sound expensive too? 

UK inflation rose unexpectedly to the highest level in six months in August – an unwelcome development for hard-pressed British households which had finally begun to see wages rising above inflation earlier this year.  Although workers’ annual pay rises have gradually begun increasing, they remain perilously close to inflation, but with the uncertain future, many employers will simply be unable to sustain increased pay levels or bonus payments.

What are the other possibilities?

With the connection between the wellbeing of staff and their performance an obvious one to make, what other more cost-effective options are available to keep staff happy and positively impact on their financial, physical and mental wellbeing, enhancing productivity in the process?

Recent research has shown there are a range of options available, that not only appeal to staff (a big tick in the happiness box) but also impact positively on their wellbeing.  And the great news is that they don’t cost the earth either! 

How about these ideas:

  • Pool table or table tennis table
  • Office sports teams (e.g. netball or football)
  • Extracurricular clubs (e.g. arts and crafts, book clubs)
  • Video games
  • Extra day’s annual leave on your birthday
  • Free tea, coffee and other hot drinks
  • Flexible working
  • Retail discounts and offers (holidays, cinema tickets, meals out, laptops, supermarkets etc.)
  • Gym discount
  • Christmas / Summer party
  • Opportunity to buy / sell annual leave
  • Charity / volunteering days

Most of the above cost relatively little in real terms and can be put in place quite easily, but what about things like gym membership and retail discounts?  Don’t these come as part of expensive Employee Benefit Schemes?

Our Solution

This is where Benefits Cloud, our brand new Benefits Portal comes to the rescue.  “More perks, less pounds” means it’s an incredibly cost-effective way of providing high-quality benefits, discounts and offers to your staff.  It’s free to micro-employers (5 or less staff) and not-for-profits, and with the standard package costing £2 per employee/month and the premium package £3 per employee/month, it really isn’t going to break the bank.  Added to this, the rolling 30-day contract (so no long-term tie-ins), meaning there is no investment case to justify!  For your staff, they get access to a range of great offers and discounts, meaning their net pay can stretch that little bit further each month.

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