The Benefits of Benefits

As a recruiter, it is becoming more and more common to hear candidates ask about benefits before salary.

Now there is no denying the pandemic has played its part in this change, with candidates looking for roles which will continue to offer flexible working long after we go back to ‘normal’. But the impact of coronavirus has only accelerated what has already been coming for a long time.

Surprisingly, over 50% of the whole UK workforce are now millennials and they are defining the workplace as we know it. These millennials represent a new era of talent, a band of creative, resourceful and tech-savvy visionaries who are now taking over management roles.

This new era of management realise the importance of a good work life balance - not only for the good of the employee but also in returning results for the business. They are more technologically progressive, recognising the importance of staff involvement in key decisions and have health & well-being benefits that are far from tick box processes that offer little in the way of help.

Now some of the above benefits mentioned may not appear ‘new’ but it is how they are implemented into the structure of the business and how employers are exercising them that is different. They have been re-branded, re-packaged and stripped of the previously strict guidelines. Solutions are now varied and offer flexibility which provides a better fit for each employee.

Breakdown of New Trends

Modern Health & Wellbeing Benefits

Health & Wellbeing comes with added options that include personalised programmes and will all be done through hubs and apps run through external companies like Ospa.com. This will provide each employee with a place they can enter data each day, regarding how they feel physically and/or emotionally while also offering anonymity.

Flexible Working

With the continued cost of inner city rent rising and the public transport increasing faster than the inflation rate, flexible working policies are already front and centre of most candidates’ expectations. Due to Covid, management have had no choice but to put their trust in the employees and most have been surprised with the results.

If you want to retain talent and have an advantage over competitors, these new working ways have to be embedded in your company’s philosophy.

However, remote working comes with its own set of problems. Employees will request it, but there is always a chance it could disengage them from the culture of the business. Colleague connection will also be damaged, and both of these aspects are fundamental to a successful operation. Communication will need to be at the forefront of everything and there will be no room for outdated technology that ostracises the individual. Platforms like Workplace, Teams and Slack will continue to evolve and management should always be on the look out for ways to stay connected and in touch with the business. 

Employees want their say!

My employer (LMA Recruitment) held a survey for their staff recently and one of the key findings was that staff wanted more of a say in the big decisions made by the business. LMA responded by introducing ‘The Mirror Board’.

I asked the head of the Mirror Board (@Dal Heer) to explain exactly what this is –

“The Mirror Board is a group set up to ensure that everyone within the business gets their voice heard on matters that are important to them, in a fair\unbiased way.

Their points of discussion are anonymous, and all questions brought to the attention of the Mirror Board are discussed and put forward at the Main Board meeting. It also gives the board an idea of what concerns\challenges the business is facing at that point in time and therefore, aims to deal with things that may not have otherwise been aired. It can be positive things and suggestions to help improve anything to do with work.”

The scheme is still in its infancy, so it would be unfair to comment on its success just yet. However, it seems like it will be an excellent way to keep employees engaged and immersed in company culture. 

We all have different interests, needs and personalities. Firms under stringent regimes are moving in a different direction by recognising their employees as people, considering their wellbeing and therefore providing better working environments. This new wave of innovative thinking amongst bosses will be imperative in creating a happier workforce, and a happier workforce means greater productivity. Greater productivity means greater revenue, which in turn should result in greater employee benefits (YAY).