It has always been the goal of the employees to strive for excellence and contribute to the company’s growth. One of the best ways to let these employees know that they are appreciated and recognized are benefits!
There are various benefits that are being provided by the employers because they are mandated by the law (SSS, Philhealth, Pag-IBIG, leave credits, etc.). However, there are more benefits that the employers can give to attract, inspire, protect, and keep employees longer.
As an employer, you would like to work with motivated, efficient, and productive employees.
Health Benefits
During these trying times, good health is what everyone would like to have and maintain, and this can be pretty expensive for an individual. Payment for these can either be shouldered fully by the employer or equally paid by the employee and the employer.
Health Maintenance Organization (HMO): an insurance structure providing comprehensive healthcare programs through a network of medical providers. An HMO card can be used for out-patient and in-patient care for the whole covered period. An employee card can also cover dependents, depending on the agreement between the employee and employer.
Life and Health Insurance: an insurance that covers medical expenses that arise due to a critical illness, accidents, or even death.
Paid Leave Credits
Employees are not machines and need time off occasionally, whether it is for leisure, family time, or sickness. Companies encourage the employees to take some time off, most of the time.
These leave credits can be given on his first day or upon regularization, depending on the agreement between the employee and employer.
Sick Leave: specific number of days that the employees can use for the days he/she is unwell during the year.
Vacation Leave: specific number of days that the employees can use for pleasure or any personal matters during the year.
Birthday Leave: 1 day leave to celebrate his/her life.
Cash Incentives
Whether it is for a job well done or for a goal achieved, employees will always value cash incentives.
Flexible Schedule
Providing the employees the chance to work on their own time might result in productivity and a good job. Especially during these trying times, most of the employees are working from home together with their siblings or child attending school, their spouse or parents working from home as well. Given this situation, there might be some issues with the internet, and peace and quiet.
They can enjoy flexibility for a certain number of hours or they can even start anytime of the day. This is best practiced with a good biometric system and supervision.
Remote Working
This might be applicable for employees whose works can be performed from home or anywhere with internet connection such as drafting of documents, programming, payroll computation, sales, etc. Employees would love to be able to choose if they can work remotely or be physically present even for a few days a week.
This can also benefit the company by saving electricity bills, transportation fees, and some space, if applicable.
Budget-friendly Benefits
Whether your business is just starting up or does not have the resources to provide pricey benefits but still want to keep your employees happy, here is a list of what you can give, provided that it will not harm the business in any way.
Friday casual dress code
Bring your pet to work days
Free coffee and/or snacks
Free/discounted company goods and/or services
What difference does these benefits make?
Efficient Recruitment
Almost all of the time, great applicants are being offered their expected salary, it comes down to the benefits they will receive. Surely, they will choose a company that offers more benefits than companies that just offer the mandatory benefits.
Productivity
As previously mentioned, productivity is one of the main results of great benefits. Taking an employee’s worries can help them give their best at work. When employees are productive, the company’s goods, services, and reputation are at 100%.
Retention
Happy employees stay and will remain committed to the employer. This lessens turnovers making the business process seamless.
Remember that employees are the company’s greatest asset. JMI can guide you with your plans. Email us at info@jmiph.com!