Employee benefits

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What do you mean by employee benefits?

Employee benefits can be defined as the compensations an organization provides its employee with, apart from their regular designated salaries or wages. 

Employees are the driving force of any small scale or large-scale organizations. And it is important that the management listen to their needs and expectations and provide them with some luxuries along with their salary. Hence, employee benefits is a concept brought up to boost their engagement and satisfaction. When the employees have added benefits in their workplace, it helps them to work even more passionately and support the organization they work for.

Some of the employee benefits that are commonly regulated in most organizations are insurances like health, life, medical, etc. loans on education, housing and other entities, sick leaves and vacations or flexible working hours. With the increasing globalization of most businesses, many organizations have made it common for the employees to work remotely, even from their home and during flexible hours. Studies prove that this arrangement has increased the productivity and engagement of the employees as they work from their comfort zones. 

In this article, we will look at some employee benefits that are commonly given away in most organizations globally.

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Examples of employee benefits for better employee satisfaction

  • Medical expenses and insurance coverage 

We all know the first thing we care about is our health. And employees feel valued the moment they know that their organization cares for their health. By covering their medical bills and insurance costs, you show them that you care for their wellbeing. Decide what plans you can provide those fits into the company budget and elaborate the employees on their benefits.  

  • Exercise facilities 

Provide the employees with exercise facilities. You can conduct sessions on the weekend in the workplace itself or any other place. This will motivate people to look after their health as well as know that you as an organization care for them. 

Another way is to provide them with gym or yoga memberships. If conducting such sessions is not an option for your company, you can provide them allowances for gyms.

  • Health and fitness courses

You can make employees attend fitness sessions and workshops to spread awareness on health issues and how to tackle them. Furthermore, they can also be made to participate in health-related competitions and award the winner with additional benefits.

  • Sponsor events 

After long weeks and months of work, your employees always deserve a bit of refreshment. It is a healthy practice to arrange some fun events for your employees where they can get a day or two out of their jobs and responsibilities. You can arrange events like karaoke nights, a short trip, bowling, something to make their weekend memorable. Most organizations conduct such fun activities on a Friday so that it contributes better with a long weekend ahead. 

Apart from refreshment, such activities can prove really helpful for bonding with each other, a day where the employees can have fun with their seniors and get to know them outside the work culture. 

  • No dress codes 

A study conducted by QuestionPro stated that 94% of the employees feel happy to work when there is no strict dress code policy at work. Recent businesses have normalized earning casuals at workplaces which serves perfectly to the employees. If not for every day, there can be “casual Wednesdays”, something like that to bring up the spirits in the middle of the week. 

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  • Employee surveys for benefits 

Every organization conducts employee feedback surveys.  These feedbacks work both ways, where employees can give their feedback about their job profiles, team members and workplace and they get feedback from their superiors or managers about their performance and work. 

But what really sets an organization aside from others is the way they respond to the feedback. It is important to act immediately on the feedback results collected from the employees. The results can be changes and advancements the employees want with their workplace, knowledge or education gaps, team struggles, managerial struggles and much more. 

You need to take necessary actions in order to make the workplace better for your employees, so they work under satisfaction.

  • Involve your employees 

Your employees are not there to just do what you ask them to do. Look at them as a group of people who have the potential to push creative and innovative ideas into the business decisions. Involving the creative employees while making important business decisions will motivate them to pitch in good insights and ideas for the betterment of the business. They will see how their opinion is being considered by the authorities and will feel to contribute more towards the good of the business 

  • Promote communication 

Employee engagement is the root of employee satisfaction, and ultimately of a successful business. There has to be a transparent relationship between the employees and the organization they work. And for that to happen, it is important that employees understand the importance of communicating clearly with their management and superiors. 

You can also conduct counseling sessions with specialists in case any employee feels the need to talk about their problems to someone. Your organization should feel like a safe place for the employees to speak their minds. 

  • Keep employees motivated

A demotivated employee workforce leads to sudden profits downfall. The organization will stand still, sales seem to go down and employee attrition. You need to take care of the workforce behind all these sudden down hills. Understand the reason behind their procrastinations and what they expect from the organization. Make sure to fill those expectation gaps and get them motivated and elevated for their everyday work. 

  • Freedom to perform 

Let the employees know that there is a scope of freedom in the way they do their work. Employees feel motivated to work in a liberating environment where they can think out of the box and apply their creativity into their every day work. As an organization, it is your responsibility to allow them to out-perform themselves. 

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Hindol Basu 
GM, Voxco Intelligence

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