HR Software News

Businesses 'must make employees aware of benefits'

Posted by Editorial Team

Personnel need to be informed by their employers of the benefits that are available to them.

This is according to Sheila Attwood, pay and benefits editor at XpertHR, who said failure to communicate properly with staff regarding such schemes is a common mistake among businesses.

She said that research compiled by her organisation revealed that while enterprises are currently paying out less money to their staff, they are still making an effort to retain their best workers through benefits packages.

But some personnel may not be aware of the advantages of such programmes, Ms Attwood claimed, meaning that not only do they miss out on lucrative opportunities, but employers are not gaining maximum value from their investment.

These initiatives do not necessarily have to cost more, she stated, adding: "For example, [as an employer, you could] use employee engagement surveys to find out which benefits employees value and which they don't, as well as using data to monitor take-up levels."

According to the expert, it is then a simple step to swap out the initiatives that are not thought of highly for more enticing options, maximising their efficiency.

It is also important to monitor the supply side of employee benefits, she explained, noting that businesses need to revisit their providers in order to ensure they are getting the best value for money.

Organisations were then advised to try and negotiate their current plan if they were losing out, or simply swap to a different supplier.

Her comments came after XpertHR found that benefits packages were the most popular reward project for many firms in 2012, with cost being a primary factor.

A main objective of these schemes was to prevent personnel defecting to other businesses.

Commenting on the research earlier this month, Ms Attwood said there are a number of areas where companies need to focus in order to improve their current offerings.

Childcare vouchers need to be reviewed, she remarked, particularly in relation to their administration costs.

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