Transforming Workplace Benefits to Elevate Employee Engagement
Research conducted by recruitment specialist Michael Page revealed that workplace benefits are a crucial factor for 73% of British workers when considering a job offer. These benefits play a central role in motivating teams, retaining current talent, and attracting new individuals to a business. However, according to a PageGroup study, 82% of respondents believe that workplace benefits are overly complex, with 37% not being aware of their benefits package before accepting a job. Additionally, 65% were surprised to discover certain benefits only after being in a role for some time. This lack of clarity suggests an opportunity for businesses to streamline and simplify their employee benefit offerings.
Key findings from the PageGroup study further highlight the desire for flexible benefits, with 85% of respondents expressing a preference for such packages. However, only 20% are completely satisfied with their current benefits package. The most sought-after benefits include flexible working (71%) and the ability to work from home (55%).
In today’s evolving job market, there is a clear shift toward prioritizing the health and wellbeing of employees. Companies like Airbnb and Netflix have pioneered innovative benefit concepts tailored to appeal to a new generation of job candidates. Rather than focusing solely on monetary perks, businesses are increasingly offering benefits aimed at improving the quality of life for their employees both in and out of work. Notably, millennial workers, who are expected to comprise 75% of the global workforce by 2025, value health-related benefits more than previous generations.
The World Health Organization has outlined the benefits of health promotion at work, which include promoting a caring public image, improving staff morale, reducing staff turnover, decreasing absenteeism, and increasing productivity. In line with the preferences of millennials, wellbeing initiatives geared toward stress management, weight loss support, and gym memberships have shown to enhance employee engagement, leading to a stronger belief in the organization and a willingness to go the extra mile.
Employee engagement is a critical driver of a company’s success, with Gallup’s research revealing that globally, 87% of employees lack engagement with their organizations. To address this, businesses should aim to empower and motivate their teams, embed company values, foster positive relationships among colleagues, and create a culture of engagement that is integrated into everyday interactions rather than addressed on an annual basis. By focusing on strengths, shared goals, and consistently promoting a supportive environment, employers can elevate employee engagement levels, leading to improved profits, talent retention, and customer loyalty.
For further resources on employee engagement and workplace wellbeing, visit employee engagement resources.