In todays marketplace employee attraction and retention is key. But as all employers know attracting and retaining top talent is of paramount importance. The crème de la crème, the millennial wiz, the valued employee that has become a virtual Yoda of knowledge and leadership for your company and brand. So the real question is what is the cost of employee unhappiness? If that valued employee leaves or if you are finding it hard to compete for top talent, what is the actual cost to your bottom line?
Are happier employees more productive?
Happy employees are much more likely to be invested in a company that takes an active role in showing the employee that the company cares for both their mental health and financial wellbeing. A person happy within their role is more motivated and more productive. Happiness has been shown to make the brain work more efficiently, happier individuals are more creative and better problem solvers. Whilst many think success brings happiness, studies have shown that its happiness that brings success.
What role do Employee Benefits play?
There are many ways to supplement salary by assisting employees in other areas of their lives. Employers will be happy to learn that they don’t have to fork out more and more to create benefits packages that both attract and retain talent. Some highly coveted benefits have little or no cost to the employer but are highly valued by the employee, for example travel saver benefits.
Offering deals and discounts will not only help attract and retain employees, but make them happier as well. Of course, financial and healthy living benefits will have more of a positive effect on a person’s underlying mental state, but helping employees save money be that through discounts or tax savings will always have a positive impact.
So which benefits are most valued?
A company in the US, Fractl Ltd, conducted a survey of 2,000 employees to find out which benefits were most valued by both male and female employee.
Whilst women rated gym membership, paid maternity leave, working from home and better healthcare benefits, male employees polled rated company off site days, team building events, free coffee / snacks and they also rated gym membership.
Take a look at the types of benefits that are available from www.hubex.ie – you could try sending out a survey to your employees to see which benefits would be of interest to them.
Supporting happier employees
It is well documented that offering support for employees is the most important aspect of creating a happier workforce. All companies, large and small, should assess financial, mental health and wellbeing support for employees as well as providing for improved physical health. In short happiness does indeed increase productivity and employee benefits play a major role in this.
