What does employee benefit mean?

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What does employee benefit mean?

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Retain talent and mainly attract good professionals it is one of the biggest challenges for companies in the current market. Due to great competition, the salary is no longer sufficient to captivate employees. Every company needs to offer something more.

For this reason, many have been betting on corporate benefits, which in some way, are a supplement to the salary. But before offering something that pleases your collaborator it is necessary to know what does benefit mean.

Knowing what benefit means can help HR develop strategies that will motivate employees more, increasing the retention rate and avoiding short-term outflows.

In this article, in addition to talking about what benefit means, we will mention some trends for you to surprise your employees with the best benefits in the market.

What does benefit mean

Benefit it is an advantage that employees receive from the company and that are considered as a complement to their salary.

One Insper research showed that 90% of professionals they believe that labor benefits are what really keep them in a company. Only 20% they see wages as the highest priority.

In other words, organizations that know what benefit means and offer them to their employees, stand out and have a great advantage in retaining talent.

Within an organization there are mandatory benefits, provided for in labor laws, and optional benefits.

Do you know what are the mandatory benefits and what are the trends in optional benefits? We will talk about them below.

The appreciation of benefits

More of 40% of professionals value a good benefit package before accepting a job vacancy, according to Catho data.

This data shows that every day that companies need to know which means benefit for employees and understand that the salary is no longer enough to keep them engaged.

Well-being and happiness within the work environment has become a high priority. Mainly because they are points that have been increasingly valued by employees.

If he does not feel happy and valued, the tendency is to be looking for a way out of the company at all times. productivity is always below expectations. For this reason, a form of stimulus, in addition to salary, comes through corporate benefits.

Among the main mandatory benefits are:

  • FGTS;
  • transportation vouchers;
  • Thirteenth;
  • night additional;
  • vacation.

Now, if the company thinks further and values ​​its employees, optional benefits stand out. We have separated some of the main ones to help you increase the well-being and engagement of your professionals.

Optional corporate benefits

Data from a EBTS study showed that 99% of companies recognize the need to raise employee satisfaction as a way to achieve good results.

For this reason, they seek daily to understand what benefit means to employees and the real impact of a benefit plan on increasing productivity.

There are countless trends in optional labor benefits. Meet some of them below and place them as priorities in your company's day-to-day activities to stimulate your employees and retain talent.

1. Salary on demand

More than 41 million UK citizens would agree to take out some kind of loan to cover some unexpected cost, according to SerasaConsumidor.

Now you’ve already imagined that you don’t need to go into debt like this anymore, proportional part of your salary at any time of the month? That's the idea of on-demand salary, a new labor benefit that has been gaining momentum in the market after the emergence of HR Consultant UKy.

The idea is that the professional does not need to wait for the filing date to receive their total salary. Working, for whatever week, he already has the right to receive a proportional part of his salary, referring to days worked.

With this labor benefit, the company demonstrates its concern not only with the employee's professional life, but also personal.

That way, they can feel more valued and engaged with the company's goals. Because she demonstrates knowing what benefit means and reveals her concern for the human side of employees.

2. Flexible hours

The most desired labor benefit is the flexible schedule, according to research done by the company Robert Half. About 88% of professionals would like to have flexibility in their companies at the beginning and end of activities.

With this, the employee is more willing to maintain the balance between personal and professional life. That is, he has more time to resolve personal issues without neglecting his professional responsibilities.

Among the main benefits of flexible hours we can mention the increase in productivity and engagement, reduction of absenteeism and costs for both the company and the employee, if the home-office is adopted, for example.

3. Culture voucher

Who doesn't have an employee who likes to read, go to the cinema, theater or show? Everyone, isn't it? For this reason, the culture voucher appears as a great trend in optional labor benefits.

Companies that already know what benefit means recognize the cultural voucher as a way to stimulate the employee well-being outside the work environment. It is that story of knowing that the personal side has an impact on the professional side.

Therefore, if your employee is happy in his personal life, this will directly impact his performance within the company. So the culture voucher it can be a cheap and strong stimulus in the relationship with your employees.

4. Gym voucher

One Bristol University study revealed that physical exercise can directly impact employee productivity. Results of professionals were evaluated on one day with training and one day without training.

On the day they did physical activity, there was a considerable increase in concentration (21% more concentrated), motivation (41% revealed to be more willing in their functions) and speed in the end of activities (25% of the employees who practiced the activity finished their jobs before expected time).

For this reason, the gym voucher is one of the employees' favorite benefits, where 38% of employees would like to have it, according to Robert Half.

If the company, therefore, knows what benefit and its advantages mean, the gym voucher is undoubtedly a great option even to encourage employees to regularly practice physical exercises.

Enabling physical well-being and, consequently, greater willingness for employees to work happily.

5. Health plan

More of 70% of employees see the health plan as an essential benefit for opting for a vacancy within a company, revealed a Catho research.

With the country experiencing a critical moment in health, those who have a good plan have greater security in relation to personal and family well-being when they need to use it.

Even if the company can make a discount on payroll, due to this optional benefit, the value is already worth it in relation to the investment in an individual agreement.

6. Scholarships

Encourage the employee to keep studying it's a great way to show your concern for his professional growth.

So, knowing what benefit means, investing in plans that include scholarships can be of great value to the company.

This is because the results of the employee's professional growth, in relation to his studies, can also be harvested by the company. Since, a professional in constant update, will increase his competences and abilities to exercise his function.

In addition to scholarships, training can be offered, workshop and training that also makes all the difference when seeking to value an employee and, above all, contribute to their daily growth.

Internal search

There is no point in creating a benefit plan if the company does not even know what its employees want and does not even know what benefit means.

It is essential, before creating a strategy to motivate employees, to know what works and what doesn't in your company.

Therefore, it is essential to know the relevance of each benefit to employees, so that their action is indeed effective.

To structure this internal search it is essential to develop a questionnaire with possibilities that are somehow accessible to your company. There is no point in adding benefits that, in the near future, you will not be able to offer at all.

Follow the following step by step:

  1. Structure the questionnaire: questions that accept direct answers such as “yes” and “no” or from 0 to 5 can facilitate the measurement of results. List current benefits and suggestions for possible future benefits;
  2. Make an internal disclosure of the research: everyone needs to know the purpose of the research, so explain and encourage everyone's participation. Reinforcing that their participation is important for setting up the benefit plan. Set a deadline for delivery;
  3. Analyze and disseminate the results: it is important to be transparent with your employees, therefore, disseminate the results, making it clear that the company is listening to everyone and is dedicated to being able to put the suggestions into practice.

The setting up of a good benefit plan depends a lot on this internal research, as this increases the chances of your company being more assertive according to the employees' wishes.

The importance of a good benefits package in the company

The volatility of the current market meant that the salary was no longer sufficient to insure an employee in the company. Organizations needed to understand what the benefit is and what impacts it brought to their routine.

As a result, it was noticeable that the remuneration supplement added value and was extremely relevant to attract and retain talent. As such, many companies have started offering the most diverse benefits to motivate your employees.

However, optional labor benefits must respond primarily to employee desires. Knowing what they want, through the application of internal surveys, is essential to keep them engaged and satisfied with what the company offers.

It is important that you take a step, starting today, in your organization, to really know what benefit is and use it as a competitive differential in attracting and retaining talent.

Can we help you with this challenge? Leave a comment in the post and tell us what benefits you value most in the company.

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