Do employee benefits reduce churn?

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Do employee benefits reduce churn?

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Control the turnover is one of the main roles of the HR. After all, a high rate of layoffs and hiring ends up generating excessive costs, loss of talent and drop in productivity, which is bad for the health of the business. In this scenario, many people wonder: employee benefits reduce turnover?

The answer is yea. One benefits package assembled with employees' needs in mind, it has everything to help the company retain its talents for as long as possible. Some of these benefits are:

  • transport solutions;
  • financial well-being;
  • support for studies;
  • incentives to health and well-being;
  • awards;
  • flexible routine.

Do you want to know more about these benefits? Below you will see a detailed explanation of each one. Check out!

Transport solutions

Diversified transport solutions are among the strongest evidence that employee benefits reduce turnover.

This type of initiative goes far beyond the traditional transportation vouchers, which subsidizes public transportation tickets to and from work. It is necessary to think about offering alternatives that add quality of life to the routine.

For example: if the company has employees who live very far from the office, it can offer the option of chartered transport. Thus, employees make the long commute much more comfortable, avoiding the chaos of public transport, especially during peak hours and rainy days.

For those who have a car, it can be interesting replace the VT with a gasoline aid. Agreements and gratuities in nearby parking lots are also welcome.

Those who live closer may prefer go to work by bicycle, provided that the company provides the appropriate conditions for this. Some companies have bike racks for employees to store their bikes, and even have changing rooms with showers for those who arrive sweaty after cycling.

With so many transportation facilities, the quality of life increases a lot, which is essential to keep the talents close at hand. When the routine is stressful, the chances of losing professionals to competitors are much greater.

Financial well-being

Most UK citizens have debt problems or do not have an adequate cash reserve for emergencies. Therefore, taking care of the financial well-being of the team is among the main benefits for employees that reduce turnover.

Contrary to what many people think, this does not necessarily mean increasing the salary of employees. The big secret is to offer tools that allow a greater control over personal finances.

Market trend, the on-demand salary fits that goal perfectly. In this model, the employee has the option of withdraw money from days already worked at any time of the month, without waiting for the fixed payment date. Everything is done through an app, in a simple, fast and secure way.

In this way, the employee has much more flexibility to organize his budget, plan expenses and deal with unforeseen events, since he will always have access to his salary.

Promote the financial education in the company it is also a great alternative. With more knowledge on how to save, invest and plan financially, the employee will be able to reduce stress and worry generated by debts and other issues involving money on their own.

All this care is rewarded with a team much more engaged style=”font-weight: 400;”>, which makes employees more likely to stay with the company.

Support for studies

To offer support for studies it is one of the main benefits for employees that reduce turnover. Often employees want to take a new undergraduate, graduate or even free course, but end up not being able to afford these expenses on their own.

When the company has partnerships for scholarships and discounts at universities and educational institutions, this is a golden opportunity for these employees. In addition to becoming more complete professionals, they feel valued and grateful for the chance to advance their studies, which helps to increase talent retention.

Incentives to health and well-being

Another good way to reduce turnover is through health and welfare. The basic measure is to have a quality health plan style=”font-weight: 400;”>, with good coverage for consultations, exams and procedures. But not only that.

The company can, for example, offer free fruit during the working hours, for encourage healthy eating. If there is a restaurant on site, even better: develop a balanced menu accompanied by nutritionists, taking close care of the health of the team.

Incentives for physical activity they are also great benefits for employees who reduce turnover. The alternatives are several: yoga classes, stretching, gymnastics, agreements with gyms and various sports groups, such as soccer and running.

Awards

Among the benefits for employees that reduce churn, the pperformance remedies are a great success in companies. This type of measure is excellent for value the efforts of employees and make them more engaged, reducing turnover.

The award can be given in cash or other formats, depending on company policy. The criteria are also varied. Check out some examples:

  • semiannual bonuses based on pre-established goals;
  • annual trips for professionals with the best conduct (punctuality, performance, team work, etc.);
  • gifts and public recognition for employees who have been on the job longer (every 5, 10, 15 years).

Flexible routine

With the changes in the market in recent years, professionals now have new priorities in their careers. Among them, perhaps the largest is the balance between personal and professional life style=”font-weight: 400;”>. And one of the most effective ways of offering this is by implementing the flexible workday, whether with home-office or alternative schedules.

In this way, employees suffer less in traffic, can better reconcile their commitments and are able to work when they feel most productive. With so many advantages, they will surely think twice before looking for opportunities in other companies.

Now that you know the benefits for employees that reduce churn, how about putting what you've learned into practice? Assess the needs of the team and create a benefits package relevant to the quality of life of employees. This way you will be able to leverage your results in people management and in the control of turnover.

Did you like the article? Tell us in the comments what benefits your company uses to contain turnover!

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