National Salary Packaging provides financial wellbeing program for your workplace
DID YOU KNOW… having the right employee benefits can have a huge impact on the talent you attract to your business. It can also impact how you engage and retain employees.
75%
of employees are more likely to stay with their employer because of their employee benefits package¹
69%
of employees would choose one job over another if it offered better benefits¹
61%
of employees agree that they have made healthier lifestyle choices because of their company’s wellness programs²
1. https://employeebenefits.co.uk/statistics-show-the-importance-of-employee-benefits/
2. https://www.forbes.com/sites/nazbeheshti/2019/01/16/10-timely-statistics-about-the-connection-between-employee-engagement-and-wellness/#3dddd8d222a0
The psychology of employee benefits in the workplace
Happy employees drive your business forward
Firms that consistently attract and retain motivated, committed staff, THRIVE!
While money is just one factor, salaries and bonuses are directly linked to your company’s success, meaning that employees’ salaries and benefits are important business decisions.
Extra perks contribute to higher staff retention, better productivity and higher level of output
Giving employees additional financial benefits supports their financial security and encourages them to deliver above-average work and effort. Workers can fully focus on their projects when money is less of a concern. They have fewer worries about staying financially afloat, which makes them more present in the workplace, leading to higher levels of productivity and better quality of work.
Financial benefits help underpin your company’s success and your employee’s happiness and motivation!
In fact, according to the HR Institute, “the lure of better pay elsewhere is reported as the second-strongest factor in why employees say they leave.” Moreover, financial rewards help sustain your employees’ lifestyles, and are a major determinant in where someone chooses to work.
Offering extra financial rewards attracts highly skilled people.
What's the cost of staff retention to your business?
Recruiting and training a new employee requires a significant investment of time and money. Many studies show that the total cost of losing an employee can range from tens of thousands of dollars to 1.5–2x their annual salary.
Frequent turnover has a negative impact on employee morale, productivity, and company revenue.