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What Employee Benefits Do Staff Want in 2020?

What Employee Benefits Do Staff Want In 2020?

Employees need to be motivated if you want them to perform well at work. This is why most companies will offer employee benefits to entice staff to apply for work, but also to stay at the company. Usually, it’s things like employee discounts at the place of work, and sometimes outside of it. 

However, staff want (and deserve) more in order to feel as though their job is worth it. Hooray Health & Protection have teamed up with Essentialise Workplace Wellbeing to discuss to list the most requested benefits our two businesses have heard in 2020 and a bit more information why they wanted them.

Flexible Work Hours 

This is an important perk for many workers because there is so much emphasis on us achieving a work-life balance. It is so easy for us to fall into the trap of working all the time and never making space for things that interest us. 

Working from home mean that people get downtime and can move at their own pace. Similarly, being able to have flexible work hours allows employees to be a little more spontaneous with their lives. 

Group Life Insurance 

It’s becoming more of a common request, even from small/micro businesses. Many households need two incomes in order to survive, and those with only one income are solely reliant on the person who is working. If something happens to an employee, it leaves the family in great distress – not only because of the loss of their loved one, but also because of financial pressures. 

Providing Business Life Insurance for your employees pays out a lump sum to their family upon the death or serious injury of their loved one, giving them time to come to terms with what has happened without financial stress. 

Wellbeing for Performance Workshops 

People have a hard time finding the motivation and time to stay fit and healthy, which includes eating well, managing their mental health but also realising how sleep, their mind set and resilience are linked and are key to increasing performance and productivity.

Lee Chambers and the team have started implementing wellbeing programmes tailored to each individual business to help them establish how they can help their staff stay more active and also look after both their mind and body. 

Some businesses have a gym and wellbeing centre on-site, while others make deals with local centres so that they can provide free (or heavily discounted) access to their staff. 

Social Events and On-Site Food 

You’ve probably read that most tech companies have followed the trend of Google and keep the fridges stocked and feed their staff. It costs a little more, but there are also massive improvements in productivity. Employees are nourished and full of energy to help them work, and they also don’t have to worry if they can’t afford lunch that week. 

Similarly, having social events for staff (and their significant other’s) brings the team closer together to help them work better, but also provides them with downtime where they can really relax, have fun, and get to know each other. 

Business Health Insurance

We are so lucky to have the NHS in the UK but unfortunately as we all know, due to overuse and underfunding there are a number of delays for certain treatments which can massively impact employees when they are off work and also effect their mental health if a loved one is waiting treatment.

Group Private Medical Insurance allows your staff to bypass NHS delays and receive the treatment they need as soon as possible. It is also an option (and an often requested one) to include family members onto the policy which provides staff with the peace of mind their loved ones are taken care of when it’s needed the most.

This is one of our favourite benefits- It encourages your staff to go and give something back to the community without missing a day of pay. Different companies have varying policies, but the standard tends to be one or two days off a month where they can go and volunteer while also receiving a full day of pay. 

It’s great for moral because it allows staff to pursue their interests without it encroaching on their free time and also engage with team bonding outside of the pub on a Friday.

To Conclude 

In the big scheme of things, most staff don’t ask for a great deal. The benefits and bonuses they do get are incredibly valuable to you because of the improved work and the faster pace. Happy employees mean more profits for you because you will see that increase in workflow. 

It’s the little things that build up to something great, so take the time to offer staff something that will make them truly happy to work for you. 

Charlie Cousins

Founder and Director of Hooray Health & Protection, Charlie Cousins has enjoyed a career in the insurance and financial services industry spanning over the last ten years.

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