10 May 2023

4 things to consider in an holistic benefits package

Employee benefits are a vital tool in helping to improve wellbeing in the workplace. Here’s what you should include

Now, more than ever, employee benefits are scrutinised and need to work hard to supplements the care of employees. Gone are the days of token gestures – employers need to consider an holistic view of healthcare and financial support.

Ultimately, employee benefits usually consist of healthcare, dental, insurance, enhanced pensions and additional holidays. But other things can be included to ensure you really are taking good care of your most valuable assets, holistically.

1. Mental health

Mind reports that one in four people every year in England will experience poor mental health and one in six report a common conditions such as anxiety or depression, in any given week. So, it makes sense that employee benefits and healthcare have provisions to help treat these conditions.

This could include:

Mental health days
Employee assistance programmes
Making sure your private healthcare covers mental health conditions
Mental health training to help employees develop healthy coping mechanisms for difficult and stressful situations, as well as how to recognise signs of deterioration in others

2. Financial wellbeing

By investing in financial wellness, employers are equipping their employees to feel more comfortable, confident and less stressed when thinking about their money.

One in three people (36%) felt worried when thinking about their financial situation, according to the Money and Pensions Service.

It is never too late to implement a financial wellness programme in your employee benefits offering. A mix of access to debt advisors, financial planners and lifestyle benefits such as discounts, help provide a holistic solution to making money go further.

3. Flexible and hybrid working

For some, flexible and hybrid working is a lifeline. Whether you have employees with children or who are carers for disabled or elderly family members, having the option to change up hours or location should be accessible for all where their role allows for it.

Even simple things like working from home when staff have appointments closer to home than the office or are waiting for the boiler to be fixed but given a vague time slot can have a big impact.

4. Recognition boosts morale

Last, but not least, make sure leadership teams take the time to recognise a job well done. A rewards and recognition scheme is great for boosting the morale, employee engagement and therefore productivity and performance. Everyone likes to be acknowledged when something goes well. Whether that’s showing initiative, meeting targets, or going above and beyond, it is a good way to show gratitude.

Shout about it

Avantus' built-in communication tools make raising awareness of your services, such as financial wellbeing benefits, easy. And our survey tool makes it even easier than ever to find out if your offering is relevant or to learn about any shortcomings.