How to build an attractive benefits portfolio?

Today, companies that do not worry about developing a good portfolio of benefits for their employees may face serious challenges. Sticking to what is provided by law, for example, is no longer enough to retain talent and promote satisfaction among the majority.

According to a survey by Aon, a risk management company, medical assistance and life insurance are the main benefits granted by companies, with 99.5% and 94% adherence respectively.

But, after all, is that enough? How to offer quality benefits to the entire staff of a company?

If you want to retain your talent, increase productivity and competitiveness, keep reading this article and learn how to do it!

1. understand your employees

The first step for HR departments that want to optimise the organisation's benefits is to understand the profile of those employees. Of course they have basic needs, such as food and transport, but what about the rest?

Besides, there is no point in having a series of benefits that no one uses simply because they are not part of their reality. Therefore, the first step in putting together the portfolio is to conduct a brief survey with the beneficiaries, trying to understand what their wishes and needs are.

Also try to understand what motivates them and what is attractive to them.

2. Quality is better than quantity

It is essential to set priorities when defining the portfolio, but it should also not be forgotten that relying on bad benefits will not be good for the organisation either.

It may not be possible to meet all the demands you found interesting in the previous step, and that's fine. But define what's most important to employees and invest in a benefit that will really benefit them, not something that's just there to make a good impression.

If you want your company's teams to have a health plan, for example, you need to hire something that covers everyone equally. If there are people who live in other municipalities, it is essential that the plan's coverage reaches them.

The same goes for the meal voucher. If you do not have a place for people to eat in the organisation, it is essential to have an allowance that is compatible with the value of the restaurants in the company's region.

Otherwise, you may even give the business a negative image.

3. Review the benefit plan periodically

You have understood employees' wishes, prioritised their needs and offered them an attractive benefits portfolio. But keep in mind that the work doesn't stop there.

To really build loyalty among your talent and increase team productivity, making that portfolio stay interesting over time is essential, and that's the hardest task.

Ensure that the company - considering employee turnover and the changes that happen every day in the market and in people's daily lives - continues to have interesting benefits.

How to set up a benefits portfolio more simply?

Anyone who wants to offer only the best to their employees knows how complex and time-consuming the three tasks we've outlined above are, and it's not always possible to stop to plan these kinds of things.

It was precisely with this issue in mind, so recurrent in the HR sector of companies, that flexible benefits platforms emerged. It is an assertive solution because it gives employees the freedom to choose what they will spend the money the company offers them.

Then the organisation defines, considering the total amount of benefits it wants to offer (VT, VR and aids for consultations, culture, day care, petrol, gym, education, etc.) and makes them available every month for use on the platform.

This avoids the need to think of specific benefits for each employee profile and moment in life, and also makes them happy and satisfied because they can choose and prioritise what they want to do.

Here on the Alymente blog you can learn a lot more about a good benefits portfolio and also about flexible benefits platforms. Check out what's new!