Flexible benefits to recruit, retain, motivate and engage employees
Employers are currently facing a unique set of challenges: Brexit along with fragile economic recovery means many companies still face increased competition for corporate budgets between different departments.
The challenge of recruiting, retaining, managing and engaging a diverse workforce while remaining cost effective has changed now that the era of one-size-fits-all benefits is over. Employers are now tasked with offering a wide range of benefits to appeal to employees at varying stages of their lives and who have different motivations at work.
Flexible benefits offer a solution to these challenges. A wide range of options can be presented, appealing to distinct age groups, whilst various payment models suit both employers seeking minimal financial contributions, and those able to invest a larger amount on their benefit offering.
This insight covers:
- The current make-up of the multigenerational workforce and their differing needs
- What challenges employers face when offering flexible benefits to recruit, retain, motivate and engage employees
- How reward professionals can use flexible benefits to meet these challenges and achieve strategic HR goals whilst remaining cost effective
- Practical suggestions for communication plans to ensure maximum take up by employees