Staff health and wellbeing

Most business owners realise how valuable staff benefits are as a strategy to attract and retain staff. Four out of five employees say they feel more positive about their employer if they offer health and wellbeing benefits. However, having the time to research, design and implement something unique is difficult when you have a business to run.

More than just a pension

Now that offering a pension is a legal requirement, you will need to offer more if you want to stand out from the crowd as an employer of choice. Larger businesses offer a range of staff benefits as standard, but at Unividual we can help you put something a bit more tailored to make you stand out from competing employers. Smaller businesses can find it hard to compete with larger firms, and need to balance the cost of a benefits package with the need to attract and retain talent. All of Unividual’s advisers have the experience to assess each business, the overall objectives and employer branding to bring together a package that meets your unique brief.

Financial advice packages bespoke to you

Some of our clients ask us to do free face-to-face first meetings with their employees at work, others like us to do financial workshop ‘surgeries’, and we have also delivered educational sessions to management teams and directors. Where we can share our knowledge with clients to reduce the financial awareness gap within a business, we will. Inevitably, this means that employees get the opportunity to access good sound financial advice if they want it and we all work collectively to better each person’s financial position within the business.

What should businesses be offering?

You need to consider which benefits will help attract and keep the people you need to grow. It can cost around £30,000 to replace a leaver, which is far more than the cost of a benefits package that could help retain their valuable expertise and experience. Considering your demographic is an important first step. For example, would your typical employee be more interested in flexible working and childcare vouchers, or gym membership and discount vouchers? We can bring other options into play too, such as health insurance, pension planning, saving schemes, income protection and many more. Not everything has to be money related, too: some companies offer fresh fruit every week or grant their employees a day off on their birthday. Others do team building activities, away days, or extra-curricular classes. What is important is that it helps your business achieve its overall corporate objectives.

Return on investment for you and your staff

Unividual can start by examining what employee benefits you have in place, whether or not they are valued by staff and whether they achieve your objectives. We can then put together a bespoke plan that appeals to staff, to your business and helps to achieve your business objectives.

The FCA do not regulate employee benefits and auto-enrolment.

The value of pensions and investments can fall as well as rise, you may get back less than you invested.

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