Important employee benefits to keep them motivated.
Every organization wants to acquire and retain customers to remain successful at what they do. They do this by providing value added services such as discounts, promo deals, e.t.c. This value added services are provided with the intention to keep the customer happy and loyal to the brand. The organization does this with the hope that the customers will continue patronising them over time. It is therefore necessary for every organisation to provide at least one if not some important employee benefits. This is why!
Who keeps the customers/clients happy?. The company’s employees! Just as a company needs to keep its customers happy and ensure they keep patronising them, companies need to ensure that their employees are also happy and satisfied at their respective roles.
Let’s look at it this way.
If staffs are not happy, probably because the month has ended but they haven’t received their salary as at one week into the new month, will the atmosphere at the office be cheerful? Obviously not. Things may become jerky and if care is not taken the workplace may wear a gloomy outlook.
Now imagine the above illustration. How would employees of such an establishment handle the customers? They will definitely not be as cheerful as they used to be. Instead of providing solutions to customers problems, the employees themselves could become a source of problem to the customers. Thereby, dragging the image of the company in the mud.
Outside paying salaries on time, there are other ways of making sure employees remain enthusiastic and willing to discharge their duties timely and at all times.
Every company should add one or more of these very important employee benefits to its policies.
The 4 most important employee benefits.
Provision of health benefits for employees show that the company’s management has their best interest at heart. It proves they’re not only interested in what the employees can offer regarding being productive, but are also willing to be there for them “in health and in sickness as well”.
Health benefits are provided through provision of health insurance to employees. In some cases these insurances cover costs for prescriptions, physician and surgeon fees basically. There could also be options for dental and optical care.
These benefits are dependent on what an organisation wants and what they can offer as well. Some organizations can’t afford to cover the entire cost of insurance on their own. Sometimes, they make provision to cover a certain percentage and draw up a plan that ensures the employee covers the remaining part.
Some organizations extend these privilege to the employee’s nuclear family as well. This is to ensure that the employee has little to worry about when it comes to covering health cost and as such is more focused on his or her job. Larger companies are more likely to offer health benefits than small companies.
Having a retirement plan for employees is a great plus for any company to acquire the best talents they need. People are naturally anxious of what happens after they’re done with the “working phase” of their lives.
Most people are overwhelmed with the stress and demands of day to day existence and are unable to make savings with a view to retirement. Companies who make provision for employees retirement will notice a boost both in productivity and employee morale.
There are different methods in which retirement benefits are provided, but two stand out in particular.
- Pension: This is money paid periodically to a person who retires as a result of completion of a pre-agreed period of service, age, disability or in some cases voluntarily. This money is paid continually for the remainder of the retiree’s life. It is sometimes passed to their next of kin if the recipient is no more, depending on pre-agreed terms.
Gratuity: A gratuity is usually a huge sum of money an employee receives at retirement. The money is paid either because of coming to the end of a predefined service period or involuntarily as a result of total incapacitation while in active service. It is a once and for all time payment.
Career growth means different things to different people. To some it is the ability to learn or acquire new job related skills. While to others, it is the opportunity to take on new responsibilities and challenges within the organisation they belong to. Individual differences come into play here.
Well meaning companies make provision to handle or take care of their employees career growth plans. They support employees to go for training to enable them acquire recent skills relevant to their career. This benefits both the employee and the company as well.
A company can draw up a “corporate ladder” and promotes its employees from one rung to another. This may be based on the employee’s ability to handle responsibilities and improve over a period. It will help its employees grow career wise.
For example, a company hires an employee as an “entry level developer” in 2018 and by 2022 the employee has been promoted to a “senior developer”. This is a clear example of career growth which has been achieved as a result of personal goals set and achieved by the employee. This is made possible with the aid of the organisation or company.
Job security refers to an assurance that an employee has in regards to retaining their position in an establishment. It means he or she is sure of remaining employed under almost any circumstances, unless otherwise the company is no more of course.
An employee who is certain of their job security is more likely to be loyal to their employer, be more diligent in the discharge of their duties. He or she is also more likely to be proactive in the way they handle affairs relating to the future of the company. Such an employee will see the future of the company as their future as well.
Creating a feeling of job security will not only ensure that a company recruits and retains some of the best talent available. It will also ensure that they’re getting the best possible input from their employees. It sends a strong message out to employees letting them know that they’re a valuable part of the team.
These 4 important employee benefits goes along way in keeping your workers productive and loyal to you. It also shows that you value them.
Offering workplace benefits such as these go a long way in pushing towards achieving the company’s set goals. If you have other important employee benefits, please feel free to let us know by making good use of the comment section.
Contributing writer: Keresifon Ekpo @staybusy project.