Episode 29: Why all companies should have an Employee Benefits Package

A podcast for independent HR and people, professionals, and the businesses they support.

Hosted by Mary Asante and Charlotte Allfrey of HR Independents Ltd.

DATE: 5th August 2024

Episode 29: Why all companies should have an Employee Benefits Package

Guest: Dave Sykes from Bigmore Benefits

In this episode of HR Voices, we explore the critical role employee benefits packages play in today’s workplace. We discuss how comprehensive benefits can enhance employee retention, engagement, and overall satisfaction.

In this episode, we cover:

• What Constitutes an Employee Benefits Package - Beyond salary and traditional perks.
• Importance of Communication - How to effectively communicate benefits to employees.
• Customisation of Employee Benefits for SMEs - Tailoring benefits packages to suit company size and employee demographics.
• The Four P's Framework for designing and implementing Employee Benefits:
• Provision -  Long-term financial security for employees.
• Protection - Safeguarding employees' health and well-being.
• Preventative Measures - Promoting a healthy workplace.
• Perks -  Enhancing the work environment.
• How SMEs can start their benefit journey: Steps and considerations for businesses.

Key Takeaways

• Employee benefits are more than just salary and basic perks; they are integral to employee satisfaction and retention.
• Effective communication is essential for employees to understand and value their benefits.
• Customising benefits to match the workforce's needs can set a company apart from its competitors.
• The Four P's framework provides a comprehensive approach to designing benefits packages.

 

Bigmore Benefits Communication Guide can be accessed here: https://www.bigmoreassociates.com/free-guide-to-communicating-an-employee-benefits-package/

 

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