Benefits that benefit you
While the benefits package you offer your people may seem about them, it’s actually your business that has most to gain.
As you know, your employees are the heartbeat of any business. But today, attracting and keeping those star performers can prove a challenge. Not least keeping them highly engaged. And while flexible work patterns have been in demand for some time, the recent pandemic has put a better work-life balance top of the agenda. With so many businesses having to work remotely, flexible hours have become the norm.
Ready your business for the new normal
Millennials expect more from their employers than ever before. So if you don’t provide a full and flexible benefits package, you can expect to struggle when it comes to attracting new talent. What’s more, you’ll have a fight on your hands to stop the people you have moving over to more forward-thinking business.
Fancy job titles and pay increases will only work short term. To become an employer of choice, you need to invest in your employees’ future, too. If this all sounds a little daunting, don’t worry. We’ve been in this position ourselves. So we understand your challenges, and how to solve them.
One of the first employee benefits on your list should be income protection. If any of your staff are off work beyond the usual statutory sick pay period, your income protection will kick in. It pays their salary until they’re well enough to return, or they reach the end of their payment period. For starters, it’s reassuring for your people to know they’ll be paid for a longer period. And seeing as they’ll be more likely to return, it’s good news for your business too.
As you can imagine, it can take some doing calculating how much insurance your business will need. Yet as experts in the field, we’re happy to step in and handle the mental arithmetic.
Life assurance (death-in-service benefit)
The purpose of life assurance is simple: to provide for an employee’s dependants, should they pass away while on your payroll. Usually, such a policy pays a one-off sum of money to any beneficiaries named by your member of staff. Their death doesn’t need to happen while they’re at work, either. They only have to be employed by you at the time of their passing.
So while it’s an unpleasant thing to think about, it’s good for candidates to know that their loved ones will be well-looked after. Plus because you’ll want to get this right, this might be something we can help you with.
Private Medical insurance
This is an ever-popular option that could benefit your business, well beyond attracting and keeping top talent. It can get your staff back to work and back to their best, faster than ever before. When they’re treated privately, wait times tend to be shorter and appointment times more flexible too. Meaning employees can see a doctor without taking time off work.
Offering access to private care is also a great way to improve the wellbeing of your teams, boosting happiness and productivity. So if you’d like to know more about the plans open to your business, one of our expert advisers can help you choose the best package.
Make your benefits package work for you
Talk to one of our independent financial advisers and they’ll walk you through a range of options that align with your business goals. Not only saving you countless recruitment headaches, but adding genuine value to your employer brand.