How long have you had your current employee benefits package in place? Many business owners set out their employee benefits when they first start their business or create a new role but fail to look at this again unless questioned by potential employees. The benefits package is one of the most important tools that you can use to attract top talent, so it really should impress. Read on to hear some of our tips for revamping your package today.
Read Up on Popular Benefits
Before you start making changes to your current employee benefits package, you should do some reading on what is popular right now. You might have created your employee benefits package in a time where certain benefits were more important to potential employees. Some trending benefits in 2020 include mental health days, childcare support and additional holidays. If you aren’t offering the trending benefits, it might be time to upgrade. You can usually find out information on this kind of thing online so have a look.
Check Your Budget
Another thing that you should do before revamping your employee benefits package is to check your budget. Some benefits will cost more than others and so you need to know how much you can afford to spend. You might find that you are actually spending more than you need to as some of the benefits that you have in place aren’t being used by your team. So, check your budget and read up on the prices of certain benefits to get started.
Consult with Your Team
If you want to revamp your employee benefits package, you should make sure to consult with your team. These are the people that you’ll be trying to impress so why not find out what they would like to see included? As discussed before, you might find that their priorities have changed and so you could be offering something that is more cost-effective. Do a team consultation and take notes of anything that might work.
Check Out Your Competitors
Do you know what your competitors are offering potential staff members? It is possible that you are missing out on top talent when recruiting because your competitors are offering more extensive employee benefits packages. For this reason, we suggest that you do some research and find out what is on offer elsewhere. Once you know, you can make a judgement on whether you are able to offer the same thing – or something even better.
Use A Benefits Platform
Finally, if you want to revamp your employee benefits package, you should consider using specialist software. The Zest Benefits platform is a great tool that allows you to offer a tailored approach and give your team what they really want. Benefits platforms can also save you a lot of time and money over time. So, take a look at what is on offer and invest in the software if you want to make sure that you are offering the best possible benefits for your team.
Get Started
There is no reason why you cannot update your benefits package and make sure that it suits the current needs of your staff. As long as you are choosing benefits that are within your budget and that your team really want, you should be able to achieve this quite easily. Read up on the benefits platforms that are available and don’t forget to find out what your competitors are offering. Soon, you’ll see an increase in staff retention rates and you’ll attract the top talent.
