The number one issue business owners have is attracting and retaining quality staff.
In the current environment, employees are expecting more dollars than ever before.
What we know is that when an employee takes a job because it pays more they more often than not become a mercenary, they will always value more income and will not hesitate to move for a few more dollars.
We also know that a pay rise gives an employee a sense they are paid what they are worth for just 2 weeks before their mind starts to wonder if they are paid enough.
The cost to a business of replacing an employee is nearly equal to the value of their annual salary, not to mention the loss of knowledge; retaining a good employee beats replacing them.
When you do have to hire a new employee or are creating a new role, in this hyper-competitive market you want to have an offering that distinguishes you from the rest, that is where the Employee Benefits Package comes in.
What is an Employee Benefits Package?
An Employee Benefits Package is a standardised suite of benefits that you offer your employee outside of their regular remuneration; it may include items such as the use of a business vehicle, additional leave or a professional development plan.
As important as the benefits, the package sets out why someone should work for your organisation, 80% of employees highly value working for an organisation with a clearly defined purpose.
We start by having a detailed conversation with you to understand your business, what drives it and if there are unique factors that can contribute to the Employee Benefits Program.
We then send a short survey to your staff to understand what they value and identify common trends.
Combining the staff survey with our knowledge and broad market data we put together a proposed employee benefit plan including estimated costings customised for your business.
The final piece of the puzzle is rolling this out in your business.
Make a start on your Employee Benefit Package, contact us today.