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Failing to tell staff about employee benefits is money down the drain

Failing to tell staff about employee benefits is money down the drain

Failing to tell staff about employee benefits is money down the drain

A report from Cass Business School has looked at the advantages of communicating with staff about their benefits. It’s startling to see just how many organisations are failing to communicate their benefits packages to staff, failing to make the most of their investment.

This ‘communications chasm’ between what employers offer and what employees think they are entitled to is driving up sickness absence rates and staff turnover. This failure to tell staff about the benefits on offer is costing UK companies £2.7 billion every year.  A typical business with 1,000 employees that offers good benefits, but fails to communicate them, spends £470,000 more a year on staff turnover and sickness absence than a business with similar benefits that has good communication practices.

There’s a mistaken belief that if employees are aware of benefits – such as private health insurance or Income Protection – they are likely to take more time off sick. Cass’ research disproves this theory, showing that communicating about a wide range of employee benefits actually builds employee engagement and a more loyal workforce that takes less time off sick.

Now is the time to take a fresh look at the employee benefits you offer – and how you tell staff about them. A good benefits package, communicated well, can help to manage – and reduce – bottom line costs, and help to build a loyal and more productive workforce.

Petaurum Solutions Comment

Yet another credible piece of research that highlights the benefits of implementing a Flexible Employee Benefits Scheme and the importance of clearly communicating the benefits that are available to employees. With Petaurum Solutions working with you to provide your Benefits Programmes you can enjoy all the benefits of a great Flexible Benefits Scheme together with our expertise and support to help you engage and communicate with your employees to drive real employee engagement and improved performance. Our free to use scheme, Benefits Lite, will provide your employees with easy access to over 300 retailers offering a wide range of discounts from holidays to grocery shopping. If you want to offer a Childcare or Cycle to Work Scheme or other salary sacrifice schemes, our ‘pay as you go evolve as you grow’ schemes allow you to develop your scheme as your needs and budgets develop.

Talk to us about how you can enjoy the benefits of an Employee Benefits Scheme in your business without the pain of a large set up cost.

We are exhibiting at the Anglia Business Exhibition - stands 104 and 105.  Come and visit us - we would love to talk to you about your requirements.

This information is intended as a general overview and discussion of the subjects dealt with. The information provided here was accurate as of the day it was posted; however, the law may have changed since that date. This information is not intended to be, and should not be used as, a substitute for taking legal, HR or benefits advice in any specific situation. Petaurum Solutions is not responsible for any actions taken or not taken on the basis of this information. Please refer to the full terms and conditions on our website.

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Article by Petaurum Local

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