Employee benefits reduce turnover?

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Employee benefits reduce turnover?

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

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

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

Want to learn more about these benefits? Below you will see a detailed explanation of each of them. Check out!

Transport solutions

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

This type of initiative goes far beyond the traditional transportation vouchers, which subsidizes public transport 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 far from the office, it can offer the option of charter transport. Thus, employees make the long journey 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.

Who lives closer may prefer go to work by bicycle, as long as the company provides the appropriate conditions for this. Some companies have bicycle racks for employees to store their bikes, and they even provide changing rooms with showers for those who arrive sweaty after riding.

With so many transport facilities, the quality of life it increases a lot, which is essential to keep talent 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, take care of the financial well-being is among the top benefits for employees that reduce turnover.

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

Trend in the market, the salary on demand fits that goal perfectly. In this model, the employee has the option to 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.

This way, the employee has much more flexibility to organize their budget, plan expenses and deal with unforeseen events, as they will always have access to their salary.

Promote the financial education in the company it's also a great alternative. With more knowledge about how save, invest and plan financially, the employee will be able to reduce the 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, which makes employees more likely to stay with the company.

Support for studies

To offer support for studies it's another key employee benefit that reduces turnover. Employees often want to take a new graduation, post-graduation or even open courses, 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 in their studies, which helps to increase talent retention.

Incentives for health and well-being

Another good way to reduce turnover is through health and health incentives. welfare. The basic measure is to have a quality health plan, with good coverage for consultations, exams and procedures. But not only that.

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

Physical activity incentives they are also great benefits for employees that reduce turnover. There are several alternatives: yoga classes, stretching, gymnastics, agreements with gyms and various sports groups, such as soccer and running.

Awards

Among the benefits for employees that reduce turnover, the pperformance remedies are a big hit in companies. This type of measurement is excellent for value the effort of employees and make them more engaged, reducing turnover.

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

  • semiannual bonuses based on pre-set goals;
  • annual trips for professionals with the best conduct (punctuality, performance, teamwork, etc.);
  • gifts and public recognition for employees with more time in the company (every 5, 10, 15 years).

flexible routine

With the changes in the market in recent years, professionals started to have new priorities in their careers. Among them, perhaps the biggest is the balance between personal and professional life. And one of the most effective ways to provide this is to implement the flexible working hours, either with home-office or alternative hours.

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

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

Did you like the article? Let us know in the comments which benefits your company uses to contain turnover!

Conclusion

HR Consultant UK can help if you have any questions about Employee benefits reduce turnover?
. Our HR consultant in London can assist you if you live in London. Suppose you live further afield thats not an issue! Visit our HR Consultants Near Me page to find the best consultancy nearest to you.
See you next time!

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