Attracting and retaining the best employees is an integral part of ensuring continued business success – in fact, the impact on recruitment and retention was considered ‘very important’ by 61% of companies when deciding whether to invest in employee health and wellbeing initiatives.
Yet showing your appreciation while also having a keen eye on business budgets can be a tricky balancing act, and more than two thirds of businesses say cost is a key challenge when trying to improve employee experiences.
Thankfully, there are plenty of ways employers can show their appreciation for their workforce which are low in cost but high in value.
Here are eight key ways you can show appreciation to your team:
- Inclusive working – this term means individual employees are given the authority to choose when and where they work (as long as it’s good for the business and keeps customers happy). It’s a flexible working policy, which means real flexibility to suit individual lifestyles and responsibilities!
- Going company paid – if your team are paying for an individual plan or via a voluntary-paid Health Cash Plan, then why not swap over to a Company Paid Plan to show how much you value their health and wellbeing.
- Financial support – when we think of wellbeing, our financial health can often be forgotten. But with the cost of living rising, offering an additional benefit in the form of a discounts scheme can be a great way to alleviate some of your team’s money worries.
- Are your benefits beneficial? – the way we work has changed, and that may mean some of the benefits you previously offered aren’t as useful or accessible as they used to be. If you haven’t already undertaken a review of your Wellbeing Strategy, then now would be a good time to do so.
- A chance to talk – there’s a reason Employee Assistance Programmes are a widely-used benefit. Offering the team someone impartial to talk to confidentially about any work or personal problems shows you value their wellbeing.
- Time to be mindful – keeping space in their diary (and a physical space if you’re working in the office) for some time-out can make such a difference – as can meditation sessions, yoga, Pilates, workshops on breathing techniques, or even access to a mindfulness app or programme.
- Fun and freebies – it doesn’t have to be a massive gesture, but showing your appreciation can come in the form of offering free snacks or a free lunch, or taking the team out to let their hair down for the day.
- Bundle – wanting to offer a health and wellbeing package on a tight budget? Paycare’s Bundle package includes 24/7 access to a GP, our Employee Assistance Programme, and the Paycare Perks discount scheme. All for just £2 per team member per month, less than the price of a takeaway coffee – a no brainer really!
There are plenty more ideas in our Workplace Wellbeing brochure focused on taking care of your team and showing your appreciation for their hard work. We’d love to know which you think which would resonate most with your workforce 🙌