A brief guide to staff benefits and incentive schemes

Thursday, 19 January 2012 04:11

Staff benefits to boost your business

Staff benefits to boost your business

Ensuring staff feel motivated and valued is an essential step to success for any business – but what are cost-effective ways of achieving these goals? There are a number of schemes designed for exactly this; read our guide to find out more.

Employee benefits and incentive schemes can help you to achieve a variety of ends, including improved staff retention, boosted motivation and more fruitful recruitment initiatives.

Employee benefits

Setting up employee benefits can prove a boon for both your staff and your business. Cost-effective and typically simple to administer, such schemes can help your workers to feel valued and motivated to stay with your company, while potential employees may be more encouraged to work for you.

Benefits include schemes such as Flexebens, which will give staff the opportunity to enjoy high-street discounts.

By regularly sacrificing a portion of their salary, or making contributions via a credit card, staff will see those funds placed on a Flexebens Card for use across a wide array of high street stores – and will benefit from a seven per cent discount on each purchase.

Similar employee schemes are available specifically to help employees save for Christmas shopping, as well as everyday benefits such as food, entertainment and travel costs.

Staff incentives

Employees who feel valued and that their efforts in the workplace are recognised tend to perform better; for this reason, it is crucial to have a rewards strategy in place.

This can take a number of forms. One of the most important things to establish is exactly what these rewards will be, as to be at their most effective, they must offer real value to your staff.

Therefore, multi-option gift vouchers and cards can be a great way to ensure all workers receive something they truly appreciate.

Vouchers like this can be redeemable at a wide array of high street stores, with travel vouchers and much more also available. Exactly which you choose will depend on your individual staff.

You can implement such schemes in several ways. For example, if you would like to motivate your employees to achieve a particular goal – perhaps a set number of sales, for example – why not offer staff incentives for reaching set targets?

Alternatively, you could set up an online points banking system that would allow all employees to accrue credits for rewards over time. Or, you may prefer to hand out rewards on an ad hoc basis for good work.



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