Options benefits opportunities, Employee Benefits: understanding your options and opportunities
Compressed work weeks working 40 hours over four days instead of five Alternative schedule jobs working second or third shift Temporary work Seasonal jobs Gig work As an employer, you can offer your staff one or more of these flexible work options, but keeping track of the different employment statuses and work schedules of your entire staff may seem like too much work for very little return. However, the benefits of flexible work for companies goes beyond happier employees. Employers that allow their staff the freedom to work a flexible schedule can also find themselves a greener, more profitable, and more desirable company that people want to work for.
Over the years, these benefits have become more comprehensive and, for some, somewhat complicated. Remuneration and benefit packages vary from company to company but needs to provide a clear explanation of complex topics so that employees can more easily understand their options and make informed decisions.
Google is famous for its over-the-top perkswhich include lunches made by a professional chefbiweekly chair massages, yoga classes, and haircuts. Twitter employees enjoy three catered meals per day, on-site acupuncture, and improv classes. SAS has a college scholarship program for the children of employees. A new survey conducted by my team at Fractl found that, after health insurance, employees place the highest value on benefits that are relatively low-cost to employers, such as flexible hours, more paid vacation time, and work-from-home options.
It was established EMEA Benefits Communication Survey, that most companies do make a concerted effort to communicate the value of their compensation and benefits packages, but have admitted that understanding of these packages remains low.
So much so, that communications are currently receiving a greater boost of focus and efficacy than before. Company communications Communication is necessary across several media, from internal communications via print media such as handbooks, as well as multimedia channels, digital platforms and staff events, through to one-on-one engagements where the information is treated in a highly personalised manner.
US Benefits and Stock
This latter approach has been found to serve maximum impact and cater for employees at all levels. Communicating the information several times a year instead of once a year. Setting up a dedicated annual budget devoted to employee benefits communications.
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Considering the use of an external provider to communicate the intricacies binary options way the company benefits packages, as well as advice on private supplementary options.
Paying attention to the diversity of generations — older employees still preferring traditional printed methods of communication, while younger personnel prefer online access to information.
Acknowledging that social media has become a popular communication method. It provides a continual link that allows information to be punched put out in smaller chunks, and repeated in different ways at different times while at the same time simplifying valuable points for greater understanding across the board.
In addition to using sites like Facebook, Twitter and Linkedin to share benefits information, other channels such as videos, intranets, webinars and podcasts can be an interesting and engaging way of conveying information. Because Employee Benefits are intrinsic to maintaining a dedicated workforce, employee communications are seen as a vital investment in the process.
The Most Desirable Employee Benefits
The way a company engages with staff on matters that are personally valuable to them and their families helps to establish a more robust employer branding, as well as more successful recruitment processes, retention and production.
Knowing exactly what type of benefits are offered, such as Defined Contribution vs the old Defined Benefit arrangements, and what this means.
The reputation of the Administrator and Insurer. An understanding of the tax efficiency of their retirement savings.
Who the fund adviser is that can assist with the above. Always striving to be a trusted partner in facilitating financial solutions for options benefits opportunities and individuals, our dedicated team of fully accredited, experienced professionals have a passion for satisfying customer options benefits opportunities and providing a truly client-centric service.
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