Hi Everyone, 

I'm going to be doing a benefits review shortly and am interested to know what other companies our size offer so that I can see if we're competitive or not.  We have about 120 employees and our benefits package is currently: 

  • 20 days holiday, increasing by 1 day per year up to a max of 25 days
  • Childcare vouchers
  • Car sharing incentive scheme 
  • Free car parking 
  • SimplyHealth Cash plan (after 1 years' service)
  • Financial support with professional studies (after 1 years' service)

Whilst we have a few things on the list, I'm not sure it's really that appealing - I'm considering increasing the initial holiday entitlement, pension, Perkbox, etc.

Thanks in advance!

Many thanks 

Becky

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  • Hi Becky,

    I am not directly involved in our benefits selection but we have a range available after 13 weeks probation including:

    Free gym membership - local gym, not a chain

    25 days holiday

    Pension - contribution from the company increases for Senior mgrs, provided employee increases their contributions also

    Medical Insurance, again only for management

    Childcare Vouchers

    Workplace Assistance Programme

    Study support - but we provide CMI training ourselves also

    If you find anything interesting please post it here, as I am about to do a research project on benefits and their usefulness in attracting talent as part of my Level 5 UIN.

    Good luck,

    Alex

  • Hi Becky,

    We offer the following:

    Enhanced company pension contributions
    Loyalty days - so their holiday increases but only up to a maximum of 2 days added (if they struggle to use the holidays then they can sell back at the end of the holiday year) 
    The ability to 'purchase' up to 3 days per year holiday
    Travel loans
    Childcare vouchers -salary sacrifice
    Cycle to work scheme
    Medicash Health cash plan
    Support with studies (dependent on how relevant it is to the business)
    Yoga classes once a week
    5 a side football
    Once a month we have office meetings where the owners update staff on what is happening and we order pizzas in for them. 

    We have in the UK 130 employees and due to the fast and busy nature of the business we don't actually want to offer further holidays due to the impact it has but we are flexible so people can earn some lieu time to leave early on a more regular basis to avoid using holidays.

    I think it may depend on what your staff demographic is as I have found that coaching, personal and career development are more important to our staff, who are largely in their 20s so I think that your benefit of support with professional studies is a great one.

    Do you allow people to 'sell back' holidays if they don't use them all, as long as they've used the statutory allowance? 

    When we looked to increase our benefits we carried out a staff survey and involved them in the process. Whilst cycle to work is not going to be the biggest draw for people, because it is so easy to implement and requires little admin, it is nice to add to the list and doesn't really cost anything more than admin time.

    I am going to be working on the development side of things for staff at the moment rather than further benefits but I hope the above helps.

    Clare

  • Hi BeckyGreat post there may be some useful info here:

    http://www.denplan.co.uk/~/media/Denplan/files/pdfs/companies/2014/...

    I undertake work for alot of SMEs mainly less than 100 employess and I can only think of one who matches the benefit package which you offer.

    I've heard alot about Perkbox but don't really know much about it what have you heard?

    All the best

    Sarah

    • Hi Sarah, 

      Thanks for the link, will have a read. 

      Good to hear that we're offering good benefits; it get's mentioned in quite a few of our exit interviews in terms of people getting more elsewhere, but they're not always the most reliable of sources! 

      Perkbox looks quite good - it's basically an online platform and any employees who are given an account will be able to access loads of discounts and special offers, plus it's a good tool for recognition and ad hoc rewards/incentives (we can give 'gifts' through employees accounts). For our size company it works out to be about £5 per employee, per month, so doesn't cost the earth, but I think people would find it quite valuable.  Still have to sell it to the Board but if I get sign off I'm happy to let people know what it's like! :)

      Many thanks 

      Becky

      • Thanks Becky I am thinking about it for my own business would be great for the team!

        Let us know how you get on and if you implement.

        All the best

        Sarah

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