It’s no secret that happy employees lead to successful businesses. A recent study by the University of Warwick found that happiness leads to a 12% increase in productivity. In comparison, unhappy employees lead to a 10% decrease in productivity. So it’s clear that employee benefits are not just a nice thing to offer but an essential part of any company’s strategy for growth.
You can offer different benefits, but not all will be equally effective in boosting employee morale. So, which ones should you offer? Here are five employee benefits that will encourage business growth:
Working remotely is a huge perk for employees, leading to increased productivity. A recent study by Stanford University found that employees working from home are 13% more productive than those in an office. And, with the current pandemic, offering this benefit has become more critical than ever.
With remote working, employees have the flexibility to work from anywhere at any time. That means they can take breaks when needed without asking for permission and work around their other commitments. This flexibility encourages employees to stay with the company for longer and be more productive while working.
However, remote working isn’t for everyone. Some people thrive in an office environment and need its structure. In these cases, offering a hybrid remote and office work model can be the best solution. You can successfully implement a remote work policy with enough research to encourage business growth. This way, you offer the best of both worlds to your employees.
Paid Time Off
All work and no play can make an employee dull and unhappy. That’s why offering paid time off is essential for any company. Employees need time to recharge, relax, and enjoy their hobbies outside of work.
Paid time off doesn’t just make employees happy, though. It also makes them more productive when they are at work. A study by the American Psychological Association found that employees who take regular vacations are more effective and have lower stress levels.
In addition, offering paid time off shows employees that you trust them to get their work done even when they’re not at the office. This trust can lead to increased loyalty and motivation. As a result, employees are more likely to stick with the company for the long term and be productive there.
Of course, one of the most important employee benefits is health insurance. Employees need to know that their health and wellbeing are being taken care of by the company.
In addition to health insurance, you can offer discounts when they visit their nearest family dental clinic. Since many people don’t have dental insurance, this can be very helpful for employees.
You can also offer other health-related benefits, such as gym memberships, yoga classes, or healthy snacks in the office. These perks show employees that you care about their health and want to help them live a healthier lifestyle.
Offering health benefits is not only suitable for employees, but it’s also good for business. A healthy workforce is a productive workforce. And, when employees are less stressed about their health, they’re more likely to be engaged and focused at work. It’s a win-win for both employees and the company.
Training and Development Opportunities
Investing in your employees’ training and development is essential for business growth. When you offer employees opportunities to learn and grow, they feel valued by the company. This, in turn, leads to increased loyalty and motivation.
In addition, providing training and development opportunities shows employees that you’re well invested in their future. They’ll be more likely to stick with the company and be productive there if they know you’re committed to helping them further their careers.
Finally, offering training and development opportunities is a great way to attract and retain top talent. The best employees want to work for companies that invest in their development. By offering these opportunities, you can attract and retain the best talent for your company.
Team Building Opportunities
Aside from training and development opportunities, you should also offer team-building opportunities. These activities help employees get to know each other better and build trust within the team.
When employees trust and respect each other, they’re more likely to be productive at work. They’ll also be more likely to stay with the company long-term. Offering team-building opportunities is a great way to encourage business growth. It’s also great to show employees that you care about their happiness and wellbeing.
Encouraging business growth doesn’t have to be complicated. You can do many simple things to show your employees you’re committed to their success. By offering the right benefits, you can create a workforce that is productive, engaged, and loyal to your company. These are the key ingredients for a successful business.