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Employees expect more than just a fair paycheck from their employers. They also look for extra benefits that suit their personal and professional needs. By meeting these expectations, companies can keep their teams motivated and productive while retaining valuable talents. It has been proven that organisations showing genuine interest in their employees’ well-being usually outperform competitors in the process of attracting candidates.
A study by LinkedIn Learning revealed what matters most to employees in a company:
- Younger employees (aged 18 to 34) are eager for opportunities to learn, grow professionally, and develop new skills.
- Those between 35 and 49 value a healthy work-life balance compared to other age groups.
- Individuals over 50 appreciate challenging work environments.
This underscores the importance of tailoring benefits and workplace conditions to different age groups, enhancing overall job satisfaction and performance.
Find out what employees prefer regarding corporate benefits for the third quarter of 2023.
Top employers aim to create a work atmosphere that encourages talents to perform at their best, where compensation isn’t the sole motivator for outstanding work. Here are part of the key strategies for building an appealing workplace:
Employee Development and Training Opportunities
Investing in your employees’ professional development is a great way to show how much you value your team. Providing resources for career training represents an advantage for employees and the business as well. It is essential to keep in mind that trends and best practices in most professions are constantly changing, so employers should allow employees to update their skills and knowledge regularly. Some methods to encourage employee professional development include:
- Training and courses to acquire new skills and technological expertise.
- Investments in tools and systems that help them perform their tasks more effectively and efficiently.
- Participation in webinars, conferences, and industry seminars relevant to employees’ development.
- Regular communication with the team about their career goals and ambitions is also crucial for increasing employee satisfaction.
By actively supporting the professional development of your employees, you not only demonstrate your commitment to their growth, but also position your business as an industry leader, attracting and retaining top talents.
- Career Opportunities
Offering career advancement opportunities is essential to enhance productivity and engagement. Employees need clear ways to progress in their jobs, and if an organisation does not enable them, they may seek elsewhere.
- Fair Financial Compensation
When employees receive fair and competitive compensation, it often translates into increased productivity, leading to better business results. Regularly assessing salaries, at least annually, ensures they align with current market standards. For instance, if an employee takes on more responsibilities, it is fair to update their compensation or offer additional performance-based bonuses. Providing these financial incentives not only makes employees feel appreciated but also motivates them to enhance their productivity even further.
Fair compensation is a cornerstone of employee satisfaction and can significantly contribute to a positive workplace atmosphere. It ensures that your team is adequately rewarded for their hard work, creating a sense of loyalty and dedication.
- Recognition and Constructive Feedback
It is vital for employees to feel that their contributions are valued and support the company’s overall success. Recognition boosts their self-confidence and inspires them to give consistently their best. There are numerous ways to express recognition, such as sending appreciative emails, offering praise during team meetings, or nominating outstanding employees for well-known HR accolades like “Employee of the Month” or “Employee of the Year.”
In addition to recognition, employees also benefit from regular feedback and constructive advice concerning their tasks. Ongoing one-on-one meetings that explore best practices in their work processes not only enhance satisfaction but also boost employee productivity. Moreover, it is equally essential to grant employees the freedom to provide feedback on their experiences and viewpoints regarding work processes.
- Flexible Working Hours and Remote Work Options
Flexible working hours and the opportunity for remote work have become essential for many employees in today’s workforce. They are often seen as the key to achieving a healthy work-life balance. Remote work, in particular, has gained prominence in the modern working landscape. Thanks to advanced technologies for connectivity like audio and video conferences and instant messaging, remote work can be practical and conducive to collaboration, fostering a community among colleagues and partners.
- Flexible Corporate Benefits – A Modern Solution for Work-Life Balance
An increasing number of companies are adopting flexible corporate benefits to assist their employees in achieving a healthier work-life balance. This freedom of choice has proven to boost job satisfaction and overall productivity. Additionally, providing extra corporate perks enhances the company’s image and makes it more appealing to top talents.
Such flexible benefits encompass a wide range of services and products that employees can select based on their preferences and interests. This might include options like gym memberships, food vouchers, presented as perks that employees highly value. In today’s competitive landscape, many leading employers are embracing online platform like Re:benefit, offering an extensive list of over 120 flexible benefits in Bulgaria. These go beyond the traditional advantages and include innovative choices such as home care services, family support, pet care, and opportunities for charitable contributions.
Re:benefit enables companies to create customized corporate packages tailored to each employee’s unique interests and preferences. It is a tool for forward-thinking employers to apply innovative approaches in attracting and retaining highly skilled professionals.
Since mid of 2023, Re:benefit has been operating in Serbia and Turkey, establishing partnerships with various service and product vendors in those markets.
By integrating these elements into their corporate culture, employers can effectively maintain high levels of motivation and engagement among their employees, resulting in positive business outcomes and increased competitiveness.