When firms have employees of all ages, it tends to get difficult to curb them all under one umbrella and provide them with benefits. So what do you do? Gain the best benefits of Healthplan for businesses that cater to your employees’ needs! In this article, we will show how to split employees into age groups in order to provide the other benefits that help you retain them for longer.
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Let’s start with identifying the main benefits for different age groups
● Employees Between 18-24
Unlimited holiday time is the most desired benefit among workers aged 18 to 24, followed by a flexible schedule and free dental care. Full-time students are entitled to free dental healthcare, which makes sense as to why they’d want that from their workplace too.
Annual leaves and a more flexible work schedule are prevalent themes among this age group. They understand the value of an adequate work-life balance. More organisations are seeking to embrace flexible working techniques in the modern workplace, and forward-thinking businesses should consider doing the same.
● 35-44-Year-Olds
Work-life flexibility is now the top goal, followed by unlimited holiday time and a more decent pension contribution for individuals in their late 30s or early 40s. Despite the obvious benefits of greater pension contributions, work-life balance remains a primary concern for adults in their 30s and 40s.
Considering most people in this age group have young children that need to be brought up, being able to cater to their growing years is a priority.
● 45-54-Year-Olds
Compensated holidays for long service are important to this age group. This may indicate that people in this age group are more likely to stay in their jobs until retirement. Perhaps benefits like business share programs and long service rewards would be more appealing.
While private health insurance is a common reward, any benefit that promotes health and well-being for this population would be welcomed at your company! Along with these, this generation has also seen the benefits of a decent work-life balance and now wants some of that action.
Don’t we forget one particular age group? Yes!
● Employees between 25 and 34
This is a demanding group as part of them want maternity and paternity leaves while another part wants more holiday days and a possibility to work from home or a chance for workations. Can employers cater to everyone’s needs?
Maybe there is a workaround for it! Let’s now look at what benefits you could provide to keep everyone happy.
Benefits
Apart from the basic private health insurance, life insurance and parental leaves, what other bonuses can help companies retain employees?
Flexible Hours
The ability to work from home or other locations follows with benefits like working from home, setting your hours, and having more control over your life. This includes paid time off for caregivers, among other things. Some people are ready to accept a lower wage in exchange for more flexibility.
Employers can now work from anywhere because of technology’s remote system access and conference call features. Some multi-million-pound firms may need to monitor remote workers’ performance. There are several software choices available to assist you in tracking your employees’ time. This amount of micromanagement may not be required for your firm if the work is completed on time. Survey your employees to discover if flexible working is possible.
An alternative is to take annual leave in any combination. Flexible annual leave is another desired feature. Unrestricted annual leave for Netflix and LinkedIn employees has gained a lot of press. Long-term employees may be eligible for sabbaticals and birthday bonuses.
All-you-can-eat-and-learn
Free fruit, tea, and coffee are very popular office perks. Everyone loves free stuff, and this is a favourite among staff. Now that most companies want employees to come back to work, it would help to have snacks lying around because that’s how people worked during the pandemic!
Now that the company has fed their employees, it’s also important to help them improve their skills. In today’s ever-changing economy, employees must learn new abilities, especially because many of these skills are easily transferable. This way, both the employer and the employee win.
Sports And Spa
For those unable to use an on-site gym, subsidised gym subscriptions are a great alternative. Physical activity will improve your employees’ mental health and productivity. As a result, while it may appear costly, it may have some practical use. Some employers also consider Massage and Spa coupons!
Conclusion
From dental programmes to company vehicles, they’re all wonderful additions to keep your employees happy. There isn’t a limit on how many benefits you offer, but you need to ensure that your strategy aligns with business plans. You, as the employer, need to spend time preparing the right mix that will benefit you and your employees alike. Make sure mental health priority is among the mix, and you are good to go!
