Attracting top talent and improving employee retention requires more than just competitive salaries and bonuses. While these are important, recent surveys reveal that employees are increasingly prioritizing well-being and work-life balance. Here’s how companies can stand out and keep their workforce satisfied.
Flexible Working
Hours: Offering flexible start and end times, longer lunch breaks, or compressed workweeks can accommodate personal commitments, such as school runs or gym sessions.
Location: Hybrid, remote, and “work-from-anywhere” setups are in high demand.
4-Day Week: More companies are experimenting with shorter workweeks, which could be a competitive offering.
Additional Leave
Unlimited Paid Leave: Granting employees autonomy over their time off fosters trust and boosts engagement.
Volunteering Days: Allowing staff to participate in charitable work can enhance satisfaction.
Duvet Days: Offering spontaneous leave for those unplanned but needed breaks.
Enhanced Family Leave: Extending maternity/paternity leave, including more options for fathers, reflects a supportive workplace.
Bonuses
Performance: Tied to individual, team, or company performance.
Sign-on: A ‘golden handshake’ to attract high-demand talent.
Referral: Reward employees for referring new hires or customers.
Pension Contributions: Offering above-average pension contributions shows long-term care for employees’ futures.
Health & Wellbeing
Group Health Insurance: Essential for a comprehensive benefits package.
Mental Health Support: Providing access to mental health services is increasingly popular.
Gym Membership & Cycle to Work: Promoting physical health through gym subsidies and bike schemes.
Learning & Development
Certifications: Covering training costs for certifications benefits both staff and the business.
Personal Development Time: Allocating time for growth, whether work-related or personal, encourages employee development.
Insurance: Income protection, critical illness cover, and death in service benefits are crucial in offering peace of mind to employees and their families.
Unique Benefits
Virtual GP Service: Some Companies offer 24/7 medical access to staff and their families.
Term-Time Only Working: Amazon offers flexibility for parents and grandparents during school terms.
Wellness Spaces: Some companies, like a business park, provide calming natural areas for staff to unwind.
Period Policies: Medical support and flexible work arrangements to employees affected by menstruation.
On-site Nursery Discounts: Reduced childcare costs to ease the burden on working parents.
By offering a combination of flexibility, well-being support, and career development opportunities, companies can strengthen their employer brand, attract new talent, and improve employee satisfaction, ultimately enhancing retention.
