Small and start-up organisations are very much like a tight-knit local community in that everyone is likely to know almost everything about everyone else. This makes it much easier to tailor benefits packages to ensure they appeal to the individuals they are offered to.
Of course, when they are starting out, such organisations often will not have the same resources and budget to invest in benefits as larger counterparts. In many cases, this necessitates some creative thinking in order to provide access to a package that is genuinely useful and appeals to the workforce, at a time when engagement with and loyalty to the business is vital if it is to achieve crucial growth and revenue objectives.
If used strategically, the resulting benefits package can contribute a great deal towards building a unique organisational culture and philosophy.
But, what happens as the business inevitably starts to grow? How easy is it to maintain the same philosophy and approach to benefits as the workforce size and demographics increase? After all, what appeals to a handful of employees may be unlikely to have the same reach across hundreds of staff.
So, what do reward professionals in fast-growing organisations need to consider as their business grows? And how can they maintain the same feel and approach to benefits as the organisation expands in order to maintain the same sense of culture and brand identity?
Benefits’ role in aiding recruitment and retention are two of the key reasons behind employers’ decisions to offer perks. This has been the case for more than a decade as borne out by the results of Employee Benefits’ Benefits research. The latest of these reports, which is published in conjunction with Xerox HR Services, explores just what benefits employers are offering to staff, the issues driving benefits strategies, and what the future is likely to hold.
Finally, on 3 June, the cream of the benefits industry will gather at the Employee Benefits Awards to celebrate this year’s winners and shortlisted entries, network and have fun at our Summer Party. I’d like to wish all of our finalists the best of luck and hope to see many of you there.