Employee Benefits: Platitudes vs the Real Deal

Are employee benefits all they’re cracked up to be?

When you move to a new role in a new company, you will usually be awarded a salary and some employee benefits.

Some employers pride themselves on the benefits that they offer their team while others simply have a benefits system in place because they have to.

How can you tell the platitudes from the real employee benefits?

Let’s take a look:

Which employee benefits are actually requirements by law?

Many so-called ’employee benefits’ are expected in almost any role these days (for example paid holidays).

Standard paid holiday leave is a lawful requirement, not a benefit 🤔

If you live in the UK and have full-time permanent work, your employer is obliged by law to offer paid holiday leave as part of your contract.

So, it’s not really a benefit, but a lawful obligation 😉

A paid holiday leave is only a benefit if your employer is offering more than they are required to.

Other benefits that most employers will offer include sick pay and discounts on their products or services.

A discount is not really a notable benefit, because it doesn’t cost your employer any money (discount is really the least that they can do).

What makes employee benefits notable

Modern employers are offering exciting and unique benefits to employees.

Some examples of excellent benefits include:

• Working from home option
• Generous pension contribution
• Flexible scheduling
• Paying off your student loan
• Mental health & therapy support
• Private health and wellness packages
• Monthly recognition and feedback
• New jobs and assignments every 1-2 years
• Room for passion projects
• Paid time off for volunteering or board service

It’s 2021 and almost all great employers are now offering flexible benefits. This means that you can experience a tailored program that suits your needs as an employee.

A good example of this would be the employee benefit platform by Zest which is the next generation benefits platform that’s reinventing the world of employee benefits.

No two employees are the same and customisable benefits can really help to improve the overall morale of your best talent.

Summary

Millennials are driven by purpose, contribution, and control of their own work.

The best way to convince Millennials to consider your company as a long-term investment is to ensure their voices are heard.

The Talent War is on! What new attitudes, values, and approaches are you going to introduce in your organisation to keep and attract the best people?

Learn more about employee benefits: 

How To Attract [And Keep] The Best Millennial Talent
It’s Not a Pay Rise: Flexible Working Voted Top Office Perk
Top 10 Workplace Perks Millennials Actually Want