Perks at work are defined as benefits for employees, and can include employee discounts schemes, restaurant vouchers, insurance benefits for employees or financial wellbeing platform access. Perk works should be seen as additional insurance benefits for employees separate from work benefits packages such as health and dental plans. Employers can use work perks to attract and retain top talent, and encourage employees to be productive and work hard.
In a competitive employment market, employees are expecting more from potential employers in terms of insurance benefits for employees and perks at work uk. Research shows that 57% of employees would place perks at work and work benefits amongst their top considerations before joining a company. Employees are not just accepting a job based on the salary offered, but also looking closely at the perk works and employee work benefits afforded to them with the opportunity.
What are work perks?
Work perks can be used to improve the overall wellbeing of employees, and enhance their job satisfaction with employee benefits. A good work/life balance is crucial for employees, and employers should use work perks and insurance benefits for employees to support this balance. This helps employers as well as employees by boosting company morale, engagement, motivation and productivity with efforts such as employee discounts.
Productivity is key for business success, and employees who are happy at work are more likely to focus on their tasks and put a lot of effort into achieving success for themselves and the company. The more valued and engaged an employee is, the better the work they produce. A comprehensive insurance benefits for employees and work perks package is vital to ensure that teams feel valued and respected with useful employee benefits.
Why are work perks important?
Employees who are physically and mentally healthy will be more productive, and benefits and perk works help to achieve this outcome. Employees who feel cared for by their employer will know that they are working for a good and progressive company and are sure to feel more content at work and in their personal lives due to employee benefits.
This helps to promote a healthy company culture and business environment, with this only proving beneficial to employers and employees. An engaged and rewarded team is likely to remain loyal to a business, with this reducing staff turnover and in turn recruitment costs. Potential employees are also more likely to want to work for an organisation offering favourable work perks and work benefits. Research shows that 50% of millennial workers may be influenced to join a company due to their work benefits package and perks at work uk. This shows how important it is for employers to focus on what they can offer their team in terms of perk works such as employee discounts.
The cost of work perks for businesses
Many businesses may be concerned that offering effective work perks for employees will be costly and unjustifiable. However, many potential work perks can make a positive impact on an organisation without costing a lot of money whilst providing employee benefits valued by all.
Employers could offer activities such as group mindfulness, meditation or yoga sessions to support their teams wellbeing, as well as considering offering flexible working options to accommodate employees’ differing lifestyles with perk works.
15 employee perks and work benefits including employee discounts
Businesses should focus on offering a wide range of perks at work and employee benefits to support employees’ overall wellbeing and job satisfaction. Here are 15 effective work perks for employers to use to support their teams.
1. Health and wellbeing programmes
Implementing comprehensive health and wellbeing programmes can promote a healthy work/life balance in an organisation. This could include gym memberships, on-site fitness classes, wellbeing coaching and access to mental health resources.
2. Flexible work schedules
Offering flexible work arrangements including remote and hybrid working, flexible hours or smaller working weeks can empower employees to better manage their work and personal lives, encouraging better productivity overall.
3. Parental leave
Supporting parents who are also employees through generous parental leave policies enables them to spend quality time with their children whilst minimising stress which could adversely affect their performance at work. This is viewed by many as a great perk at work uk.
4. Professional development opportunities
Providing employees with opportunities to grow and develop their skills through workshops, training programmes, conferences and mentorship initiatives demonstrates a commitment to their long-term happiness and success within the business.
5. Financial wellbeing support
Offering financial wellbeing support through access to platforms such as Mintago can help employees navigate and manage their personal finances and alleviate financial stress. Such platforms can include retirement planning assistance, financial education resources and access to financial advisers. This is a beneficial perk at work uk.
6. Employee assistance programmes
These programmes provide confidential counselling services and support for employees facing personal challenges, mental health issues or work related stress. Employees can gain access to valuable help and tackle problems head on before they spiral.
7. Paid time off
A generous paid time off policy including holiday, sick leave and personal days allowances help employees to recharge, reduce burnout and maintain a healthy work/life balance. This is also likely to attract potential employees to an organisation as this is a valued benefit and perks at work uk.
8. Remote work options
Providing opportunities for employees to work remotely where possible and if desired can help to increase employee satisfaction, productivity and flexibility. This not only benefits the individual, but also the organisation that they work for.
9. Wellbeing allowances
Allocating a wellbeing allowance for employees to spend on activities that matter to them such as fitness classes, wellbeing products and resources or mental health services encourages self-care and prioritises wellbeing.
10. Employee recognition programmes
Recognising and rewarding employees for their hard work and dedication to their role through programmes like employee of the month or performance based bonuses can boost morale and foster a positive working environment for all.
11. Commuter benefits
Offering commuter benefits such as subsidised public transport passes, parking reimbursements or cycle to work schemes can ease the financial burden employees may feel due to commuting costs. This is especially beneficial for employees who cannot work remotely.
12. Team building activities
Organising team building activities and outings can help to encourage strong relationships to build amongst employees, also promoting a sense of belonging. This will also give teams something to look forward to and work towards.
13. Volunteer programmes
Encouraging employees to engage in volunteering work during company-paid volunteer days or by partnering with local charities can provide them with a sense of purpose whilst contributing to the community in which they work.
14. Employee discounts
Collaborating with external parties to provide discounts to employees on goods and services such as retail purchases and entertainment can make it easier for employees to prioritise things that matter to them and reduce financial burdens during the cost of living crisis.
15. Personalised benefits
Offering a range of benefits that take into account individual employees’ needs and preferences such as student loan assistance, childcare subsidies or pet insurance shows that employers care about personalising their employee support efforts and do not believe in a one-size-fits-all approach to perks at work uk.
5 bonus perks at work uk
Taking into consideration as many work perks as possible is a great way for employers to decide which options are most suitable for them and their employees.
Collaborative spaces
Designing an attractive and practical collaborative space encourages teamwork and creativity amongst employees. This can boost engagement and productivity which is also beneficial to an organisation as a whole.
Employee social events
Hosting regular social events including team happy hours, lunches or seasonal parties encourages employees to connect on a personal level and build stronger bonds which translate positively into the workplace. This is also a way to reward employees for their hard work and encourages them to relax and unwind.
Professional development budgets
Allocating budgets for employees to pursue professional development activities of their choosing, such as attending conferences or enrolling in online courses, empowers them to take control of their career growth and explore topics of interest freely whilst acquiring new skills.
Healthy snack options
Providing healthy snacks, beverages and fresh fruits at work not only promotes good employee nutrition, but also shows a sense of care and consideration towards employee wellbeing. This also helps employees to make good decisions about their health, maintaining overall wellbeing and therefore helping them to work to the best of their ability.
Work/life balance
Encouraging a healthy work/life balance by offering effective employee benefits such as flexible work hours, telecommuting options and the ability to disconnect from work during personal time helps employees focus their attention on work when required whilst also being able to switch off.
How Mintago can help
Mintago’s complete and inclusive financial wellbeing solution is an effective perk at work uk and benefit for employers to offer to their teams. The platform allows employees to take control of their money, managing their finances present and future to achieve their desired lifestyle. Featuring tools and resources such as the pension hunter, money helper, masterclasses, journeys and free access to a financial adviser, Mintago helps employees take charge of their financial situation amidst the cost of living crisis. Employers see a reduction in the financial stress of their team, with this having a positive impact on employee wellbeing and productivity.
Conclusion
Investing in employee perk at work uk and benefits packages fosters a positive work environment, boosts employee morale and enhances overall job satisfaction. By implementing a thoughtful and effective combination of perks and benefits, organisations can support their teams in various aspects of their lives including mental and physical wellbeing and professional development. Moreover, incorporating work perks that enhance the workplace experience strengthens the bond between employers and employees, resulting in higher productivity, reduced staff turnover and a more positive company culture.
Each business should tailor its employee perk at work uk and benefits package to align with its unique workforce and company values. By prioritising the wellbeing and satisfaction of a team, employers are investing in the long-term success of their employees and therefore, business.