Factors that Influence
- Employee Health & Wellness
- Policies that Promote Employee Engagement
- Creating a Positive Workplace Culture
- Engaging in Bus. Practices
The Benefits Meet my Expectations
The Benefits Meet my Expectations
Background Information
Employee benefits, also known as perks or fringe benefits, are provided to employees over and above salaries and wages.
Employee benefits packages may include elements such as overtime pay, medical, dental & vision insurance, vacation, profit sharing and retirement benefits.
This theme rates the perceptions of employees’ beliefs as to the level the benefits provided by their companies meet their expectations.
The results for this theme may contrast with those for Workplace Satisfaction Retaining Employees Satisfied with my Pay.
Why is this Important?
Benefits that assist employees in resolving personal problems such as marital, financial or emotional problems; family issues; substance/alcohol abuse; have a positive impact on increasing employee morale and performance. Other perks generate a sense of feeling valued and respected.
When employees believe company benefits meet their expectations, it yields a multitude of positive results:
– Reduces HR costs
– Positive impact on Employee Referral Prog
– Boosts productivity
– Increases employee retention
– Lowers turnover
– Reduces absenteeism
Recommended Action Items
Consider implementing the following action items as part of your personalized strategy to improve the level of employee engagement within your team.
Open Communication
It is important to be open and transparent with employees about their benefits packages and clearly explain the various components. The biggest obstacle with driving higher satisfaction comes from employees having a comprehensive understanding of their makeup. Providing employees with a benefits statement is a powerful way to enhance this communication.
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Employee Retention
Offering benefits helps show employees that an organization is invested in their overall health as well as their future. When possible, it is important to consider weighing the costs of additional benefits options. For example, studies have shown that reductions in turnover can more than cover the additional costs associated with retirement savings plans, without even accounting for other intrinsic benefits of a happier, more productive workforce.
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Outside the Box’ Benefit Options
When organizations cannot offer some of the customary benefits, they can consider offering some of the following non-traditional benefits to engage employees: Flex-Time, Additional Time-off, Phone/Internet Reimbursement, Health & Wellness Perks, Scholarships as well as Tuition Reimbursement.
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Nurture Sense of Being Valued
It is important to show employees that they are appreciated and that companies are willing to meet their expectations. Organizations that provide employees with benefits that meet their expectations reap several positive results – employees are happier, more engaged, have higher levels of workplace morale and are more productive.
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