6 reasons why employee benefits just make good business sense
There have been plenty of studies on the value to business of employee benefits schemes and they all arrive at the same conclusion: employee benefits are good for business, not just employees. These are the top-most commonly cited reasons:
- It's simply taking your responsibility as corporate citizens seriously.
This first point is not so much a commercial one as an ethical one. Employees are people, and treating them well should just be what employers do as a matter of course. And something to be proud of.
- Happy employees are more productive employees.
This doesn't need a formal study to prove - it's pretty much self-evident.
- Happy employees are healthier employees.
Stress alone costs the UK economy £6.5 billion a year. The total cost of sick days is more than double that.
- Happy employees are long-term employees.
This one is also pretty obvious. Employee benefits reduce staff turnover, and that of course reduces the overall cost to the business in training, recruiting etc.
- Attract a better calibre of employee Businesses offering benefits are seen as better places to work. In some studies, 40% of active job applicants consider benefits packages a major factor in their employer choice.
- Position your business as leaders
Linked to the first point, businesses who treat their employees well are regarded as progressive and forward-thinking. This has the potential to contribute to new business.
With the Help of Peak Employee Benefits we have launched 6 of the most popular schemes with more to come
Childcare vouchers can be used to pay for a variety of registered childcare services, including nurseries, nannies, after school activities, summer camps, au pairs, playgroups, holiday clubs and childcare provided by schools (breakfast clubs etc.).
Services are available at over 2,000 clinics nationwide every year, and screening packages check artery health, heart rhythm, body composition plus a biochemistry check for liver disease, kidney function, cardiovascular health, diabetes, gluten intolerance and more.
Whether they fancy a full suspension mountain bike, road bike, hybrid or even folding commuter model, with Bike to Work, employees could soon have the use of a bicycle for getting to work and in their leisure time; saving their waistline, saving money and helping to save the planet.
Provides cover towards the costs of a range of everyday healthcare expenses such as dental treatment and diagnostic consultations. Benefits are available at set amounts per night for hospital inpatient stays and per event for hospital day-case surgery, as well telephone and webcam access to qualified GP's.
Gourmet Food card
Gourmet Society members dine out with discounts of 25% off the total bill - including drinks - or 2-for-1 meals at 6,500+ restaurants across the UK. They even get access to a host of Michelin-starred and AA rosette awarded venues, as well as offers for hotel stays, amusement parks, wine tastings - the list grows almost daily.
Life cover to employees
An affordable solution for employers wishing to give a basic level of life cover to their employees for the first time. A registered group life policy one flat level of benefit of between £10k and £100k per member irrespective of earnings. Easy quote, fast response – All Unum requires is the age and gender of each person to be covered.
The plan is for PAYE employees with premium paid by the employer.
For more information:
Full details of each of the schemes can be found online at: Peak Employee Benefits