Many finance directors believe that cutting their employee benefit packages is a quick and easy way of cutting down expenses.
However, evidence shows that if you cut your staff benefits, you could end up losing your staff altogether; ultimately costing you more money and time!
In a survey taken of over 2000 employees; 30% of staff said that their employee perks were influential to them joining the organisation in the first place. This is up by more than a quarter than 2005.
What’s more, over a third of staff surveyed feel that the benefits were actually key to them staying with the company. 60% of employees with 3 or more benefits said they see themselves working for their current employer for the next five years, compared to just 35% of those who receive none. Impressive statistics!
Spending time and money developing your existing employees could actually save you money and improve your productivity.
We have many low cost or cost neutral ideas that can help to engage and motivate your team, call us if you want to find out more.