Each company will have a range of benefits to attract the perfect team members, so this will change depending on the company and the sector they work in. As a recruitment agency, we see quite a lot of benefit structures, so here are some types of benefits we have seen over the years:
- Extra pensions- Some businesses can offer different pension structures such as additional funding of a pension, or a pension scheme.
- Free staff meals- Businesses with a positive and up beat feel to them will generally run a free staff meal benefit structure, allowing people to enjoy or celebrate smaller things at the workplace.
- Discounted staff meals- Some businesses work close with partners and can give their employees a discount on food available on site or at partner locations!
- Fruit bowls- One benefit that’s small but still important is just simply having access to healthy snacks.
- Free tea/coffee- An essential one for those of us who need coffee in the morning, this benefit is almost a universally loved one and can be easily accessed by a multitude of businesses.
- Discounted gym membership- This is one that many businesses are starting to do, with a focus on health becoming more and more streamlined, many businesses are turning to alternative benefits to interest people.
- Laptops- With working from home and hybrid work becoming more prevalent in our society, having accessible laptops are making it easier for companies to attract talent.
- Training allowance- A way to ensure staff who want to keep on building skills. This benefit is a safe one to go with as in recent years there’s been a huge focus on skill building and it looks like it may stay, making a training allowance benefit quite useful for some sector based businesses.
- Team holidays- An essential one that nearly all good workplaces have. Team holidays can be small things like planned meals out or something like a planned event, it is a huge incentive to make your business more attractive.
- Free parking- Definitely a good benefit for any business that needs drivers, this one is surprisingly not as common as you’d think.
- Yoga- Becoming a more main stream thing over the past few decades, many workplaces are embracing alternative practices as a benefit structure. Considering the benefits of yoga it’s understandable why something like this could motivate the right people.
- massage / wellness – Just like with yoga, wellness and massages have been seen as benefits offered by businesses too. This could be in the form of vouchers and discounts at trusted wellness centres.
- Live in accommodation- This one is commonly seen in the Hospitality and Catering industry. It’s an optional one most times, but the chance to live in a prime area at a cut rate is a very appetising one for many chefs.
- Company car- Mostly seen in industries where travel is important for the job, but it can make a very attractive benefit for any type of company.
- Cycle to work program- Another benefit that companies are using to appeal to new talent is cycle to work programs, an initiative where you can receive a free bicycle or discount toward one to travel to work!
- Extra holiday days- This is one we’ve seen a few times, some businesses will allow for more then the minimum holiday day package, this allows businesses to give their staff more time to tackle personal life things while creating a strong incentive to join a business.
- Snack fridge- for workplaces that enjoy food and have a culture around it, a snack fridge may be a good benefit that is easy to access, some businesses even have this as an unwritten benefit.
- Free sandwich to desk- There’s catering companies that exclusively deliver to businesses and not the general public, usually selling higher quality food at discounted rates, which can be a huge incentive to the concerning foodie.
- Spotify account- Trendy businesses may offer a Spotify premium account or equivalent to those who have a passion for music.
- Mobile- Some businesses offer a free to use work phone, this is a good way to keep your work life and business life separate. Another strong benefit for modern businesses who need to keep in touch.
It is important to note that some of the above will result in tax being paid by the employee as they are classed as a benefit in kind. Do ask your accountant prior to setting any of the above, which will have a tax allocation to it.
If you would like a chat about how to secure talent to work in your business, let your consultant know.