To increase engagement at work, companies often motivate talent and encourage employees to keep delivering through competitive salaries. When a business fails to provide employees with competitive rates of pay, there are many long-term effects.
However, with the UK in a recession, providing this financial benefit is slightly more difficult. Fortunately, however, the provision of employee benefits can also encourage employees. They are often cheaper and thus, more viable, than an increase in pay.
Personalised rewards can increase engagement and productivity. Data about what benefits your employee’s want can be gathered through online platforms that can help determine what rewards work best within your organisation. This allows you to get better value for your budget while driving higher productivity.
Salary sacrifice benefits such as car leasing or cycle to work schemes can also save your employees money by bridging the gap. These schemes allow employees access to new modes of transport in return for part of their salary each month.
Find out more about mitigating the long-term effects of low pay.