You might have a good idea of what your employees need in order to be happy and productive... but what do they actually want?
When it comes to employee wellbeing and benefits it's important to ensure that what's on offer matches the priorities of your staff, according to a recent article by Brett Hill, managing director for specialist adviser The Health Insurance Group.
For example, many employers are putting together combined health and wellbeing packages – offering support for physical and mental health as well as preventative care, such as providing access to screenings, health MOTs, and alcohol management and stop-smoking programmes.
Companies need to make sure that workers know what’s available and review the appropriateness for their employees.
Thinking specifically about mental health support, employers should consider consulting staff, for example by running surveys to get a better understanding and enable them to measure the effectiveness of any support.
With up to five generations in the workplace, it's also important to look at benefits and communication methods that are relevant for different age groups. While support for financial, physical and mental health is relevant across all generations, it needs to be tailored in order to be effective, Hill explained.
Companies that don’t understand the specific needs of the demographics of their workforce will see less utilisation and engagement of the benefits they offer.
These aren't just issues for large organisations: small and medium sized firms know they need to compete with the bigger budgets of large corporates when it comes to competing for talent.
For SMEs to demonstrate they care about the welfare of their employees, they need to be aware of healthcare solutions tailored for smaller companies' needs, such as health cash plans, dental plans and employee assistance programmes.
Hill concluded: "Businesses face so many pressures, from recruiting talent to growing the business, to dealing with economic and political changes. As more companies offer better support for the health and wellbeing of their staff, employees now expect it; others then have to follow suit. In practice this means better solutions become available, and companies need to keep on top of this.
"For health and wellbeing benefits to really be effective, employers need to engage their staff early on in the process to find out what support they really want, then they can offer benefits that are tailored to the needs of their workforce. Therein lies true engagement, and the business is supported."
To connect with small businesses owners who need financial advice, planning and support, get in touch with Outbound Solutions today!