A company provides various types of employee benefits to firms to keep them motivated. It can be in the form of salary hikes, incentives, subsidies for hybrid vehicles, free commutation, a substantial death benefit, free food lease cars, free health insurance, and more. All these benefits aim to offer flexible working arrangements and work-life balance.
In this article, we will look at the common benefits that companies offer to lure the brightest employees in their organizations.
The Top Employee Benefits That Companies Provide To Employees
Personal improvement and wellness programs are enticing for almost every employee especially in the period of the COVID pandemic. Looking at the needs of employees, several firms offer benefits that aim at providing work-life balance, financial savings as well as the promotion of personal wellness and growth. Some of them are:
- Flexible working 58%
- Discounts on water, electricity, and gas 31%
- Continued education 32%
- Discounts on Petrol 28%
- Free meals 26%
- Discounts on Supermarket discounts 27%
- Initiatives for mental wellness 29%
- Subsidized yoga, gym, and massages memberships 27%
- Special deals on health insurance, mortgages, and loans 24%
- Discounts on data services and mobile phone 25%
All these services make a business immensely attractive to probable candidates and enhance the trustworthiness of present employees. Power2Motivate Australia is a leading firm that develops unique and adaptable employee benefits programs. These programs aim at encouraging staff and maintaining loyalty in the workplace. Click here to know more about the program.
Features of employee benefits software
Here are some of the important benefits of employee benefits software.
- Payroll Integration
This software integrates itself with the payroll software of the company. So, all the employee details added in the payroll system, such as the date of joining, personal information, and eligibility for benefits get linked to this software. This form of integration eliminates any redundancy of data and saves time.
- Quick Access
This software enables employees to log in and review the employee benefits details and make the required changes. As this system is optimized for mobiles, it makes it easier for employees to get access to their benefits easily.
Another important benefit of using an employee benefits service program is the ease of installation. The software offers an admin dashboard that lets you see your complete program on a single screen.
A centralized platform makes it convenient for the management team to easily and quickly access the desired information. The use of this software eases the management of information about employee benefits. It also restructures the reporting process.
- Automated record-keeping
This automated tool prevents the need for the cumbersome manual process of managing employee benefits. It is a hassle-free approach to handle the promotion, and management and employee job benefit online. This software collects and keeps the record of employee information in one place. This makes it easier to access and generate reports or create audit whenever needed.
Tech firms adopt several tactics and strategies to outdo each other using zany perks and lurks. While these factors entice employees, work-life balance, and work flexibility are more important for both prospective as well as existing employees.