Employee Incentives & Benefits

For small businesses, recruiting and retaining skilled, reliable staff is essential to growth. But in a changing work environment, it can be difficult to accurately judge what employees want from a job, especially as the workforce gets younger.

As an employer, you may be wondering how to attract, motivate and keep valuable employees. We’re going to look a the way perks, incentives and benefits can make all the difference and help to boost your EVP – so here’s why it’s time to start looking beyond salary.

Providing financial benefits beyond salary

Nowadays, many employers offer financial benefits which supplement a healthy salary. These are an essential part of the overall package and often help to add value to your offer. Financial perks include pension contributions (now automatic unless employees choose to opt out of the plan), health care plans, life insurance, and childcare vouchers – a great bonus for working parents.

Potential employees are likely to consider perks before choosing to work for your company, which means financial benefits are an indispensable element of your total EVP. While you’re under no obligation to offer every benefit under the sun, including a few options in your package may help you attract skilled staff – and keep them. However, money isn’t everything, particularly for younger people, and you may have to think about different types of benefits depending on the talent you’re trying to attract in order to grow your business.

Perks for a younger, less money-oriented workforce

The workforce is getting younger, and as a new generation of employees enters the professional world, they bring with them new expectations and a different attitude to working. Many millennials (usually defined as those born between the years 1980 and 1995) claim to prefer benefits such as health care contributions and flexible working hours to large salaries, and as such, they’re more likely to choose a company based on the perks it offers its employees.

But what perks are millennials looking for? For this generation, employee benefits don’t have to be financial or physical to count. In fact, “soft perks” and company culture are now two of the most-coveted employee benefits – anything from helping to create a healthier work-life balance or provide personal development opportunities, to encouraging healthy behaviours.

You might, for example, offer flexible working hours, or unlimited holidays, or financial contributions to courses for your employees to develop their skills. You could also provide healthy snacks at the office, free gym memberships or yoga classes – whatever makes your employees happy.

It all comes down to recognition

Perks, incentives, and benefits (no matter what you call them), more than anything serve as a way for business owners and employers to recognise and reward performance, hard work and success among their employees. Compensation – whether financial or “soft” – can be another way to make your workforce feel valued and recognised, and can help improve productivity and performance by increasing employee satisfaction.

What benefits will you offer your employees? Tell us on Twitter and LinkedIn!

We want to do all we can to help your business’ bottom line, so, if you find a cheaper deal at O2, EE or Vodafone, we’ll match it. And give you one month’s line rental free!

At Carphone Warehouse Business, we compare the widest choice of networks, phones and tariffs to find the right deal for you. We are so confident that we won’t be beaten on price by any of our high street competitors; we’ve introduced our Price Promise. This means if you find a better upgrade, pay monthly or pay monthly SIM only deal on any smartphone at O2, EE or Vodafone, we’ll match it and pay your first month’s line rental. It has to be an above the line deal from a competitor. Proof of the offer will be required.

Our dedicated team of trained business experts are here to help. They can recommend the best network, tariff and handsets for your business. With our impartial knowledge, huge range and fast response times, we make it easy to find you the right deal.

Time is money – that’s why we offer a next business day delivery. Total reassurance with next day warranty replacement. Get a next day like for like replacement for faulty handsets instead of waiting for it to be sent back to the manufacturer for repair.

Next business day applies after the completion of a successful credit check.

Get in touch with our team of experts and tell us your business needs. They’ll then search all the networks and tariffs to find you the best deal for your business, guaranteed.