Unfortunately, choosing which employee benefits to offer isn’t an exact science and there are some common mistakes businesses make, especially when first establishing their benefits package.
Here are four to avoid:
Not choosing exclusive benefits
Things like discounted gym memberships are great sta benefits, as long as they go above and beyond what your team could get if they just walked into a branch themselves. Make sure your benefits are exclusives rather than things employees could easily access or they won’t have the same impact.
Choosing perks nobody wants
Offering benefits and sta perks just so you can say you do is a costly mistake that won’t do anything to boost morale and may even have the opposite e ect. Some bosses just have a knack for choosing “perks” that actually really irritate their sta . For example, one manager had music pumped into the o ice, despite the fact that the sta hated her choice of tunes.
Not consulting staff
Don’t just presume you know best. It’s worth consulting your staff about what benefits they’d like to see offered, or why they haven’t taken up a particular benefit.
Taking benefits away
As we said before, many companies make mistakes when initially setting up their benefits package and may find themselves with low participation as a result. But it’s important to be careful about withdrawing even unpopular benefits, as it gives the impression you are taking things away from sta and may even have a negative impact on morale. If you do want to withdraw a benefit, seek professional advice before you do so, make it clear why you are doing so and highlight anything you are offering in its place.
Consult with The BeneChoice Companies to learn what other employers in your industry segment are offering to that you stay competitive in the marketplace.