Benefits: All you need to know
When moving into the UK market, staff benefits are unlikely to be top of your priorities list. However offering a good benefits package can be a hugely attractive prospect to attract and, crucially, retain staff.
Businesses are increasingly offering benefits packages as a way to attract talented staff. The top talent will expect something in the way of benefits and a good package can be the tipping point when picking between two companies. Attracting the right people has clear advantages for your business and can help you be successful in the UK market. Additionally, a good benefits offer can ensure that talented staff want to stay with the company, bringing your recruitment costs down, and continue to motivate them to work hard.
It has advantages for you too – often employees will factor the benefits they get into their thoughts about their overall remuneration. This can mean that you don’t have to throw money at increasing salaries, if you offer a good benefits package.
With free healthcare in the UK, it can seem like there isn’t much to offer UK employees. A good benefits package does not need to be particularly wide ranging, however a few well chosen benefits can go a long way. Good examples include subsidised gym membership, a Cycle to Work scheme, season ticket loans or shopping discounts.
You need to make sure that you assess and report on your benefits offer to ensure you are getting value for money. It is all very well offering health insurance but if it is costing you thousands and uptake is low, it clearly isn’t offering much value for money.
The best way to ensure you can take advantage of a good benefits scheme is to ensure you are in touch with a benefits broker. They can help you decide which benefits to offer and negotiate the best rates. Here at Quinton Oakes, we have long established relationships with UK benefits brokers and will help you find the right broker to meet your needs. Get in touch with us today to find out more and see how we can help you.