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​ What employee benefits should I offer?

  • Blog
  • 17 October 2017

In any business, it’s always a good idea to make your employees feel valued and motivated. To do this, you could offer a range of staff benefits. Thankfully, there are a great deal of different options to consider to make sure that your staff feel appreciated.

We’ve highlighted a selection of key benefits you could adopt.

 What employee benefits should I offer?

Helping staff save for the future

The benefits you offer don’t have to be complex. Beyond providing a workplace pension, there are simple benefits that can help to ease any financial worries your staff might have can be a great way to help your staff feel appreciated.

It’s now your statutory duty to enrol your staff in a workplace pension and make employer contributions for those who are eligible. This includes any staff member who works in the UK, earns at least £10,000 a year, and is aged between 22 and the State Pension Age. As a benefit to staff, you could choose to make additional contributions on top of your legal obligation.

Another provision could be a Save As You Earn scheme. Each month, money is taken from staff pay and placed into a savings account for however long your scheme lasts – these usually run for between three to five years. Once the period is over, a tax-free bonus is added to the total. Staff can choose to take this money as either cash, or in company shares. The price of these shares is set at the beginning of the scheme, meaning if the company does well over the period, staff stand to gain surprisingly affordable shares.

Workplace ISAs are another savings option, where money is taken direct from salary and placed into a savings account for staff members, rather than having them make transfers themselves.

Helping staff feel invested in corporate culture

Two very simple benefits you can offer to your staff are flexible work hours, and the ability to arrange working from home in certain cases.

Offering benefits such as these will demonstrate to your employees that you trust them to complete their workload without your need to constantly oversee and scrutinise their progress. This will, in turn, makes them feel more valued as employees by allowing them a much greater level of autonomy and an improved work / life balance.

Another possible benefit is the idea of rewarding your staff somehow. For example, after a long and difficult period of work, when office stress might be beginning to peak, take them out for a meal or a trip somewhere.

This helps to demonstrate that their efforts are appreciated beyond their pay and creates a better sense of team unity.

Making life that much easier

It’s good to demonstrate an understanding of the circumstances that some of your staff may be in. For example, if you have any parents in your workforce, consider offering a salary sacrifice scheme in exchange for childcare vouchers, meaning your employees can have their children looked after while they work without too much added stress.

Maybe you’ve got some particularly active staff members working for you? If so, there are a number of related benefits you could offer. For example, providing a subsidised gym membership will help to keep the active staff members happy, while also serving as an encouragement to other staff members looking to increase their levels of physical activity.

Another alternative is taking part in the government Cycle to Work Scheme, which will allow your staff to purchase a brand-new bike tax free, letting them keep fit and save money at the same time.

How FSB can help?

FSB offers a variety of packages, each including a wide range of services and features that can benefit your business. Our services range from workplace pension services, to health and safety advice, to assisting with website set up.

The packages that we offer are suited to either new businesses, already established businesses, or simply those looking for a network of fellow business owners. To take a look at our packages and the benefits they could provide your business, visit our Package Comparison page.

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