Attracting top talent: Tailoring employee benefits for a 2024 workforce

What does a good employee benefits package look like in 2024? Regardless of size or sector, companies across the South West, and indeed the UK, are increasingly competing to attract top talent.

69% of employees said they would choose one job over another if offered better benefits. (Harvard).

Your employee offering extends beyond simply their job description. So much so that 75% of employees are more likely to stay with their employer because of their employee benefits package.

Making sure you can meet the needs and expectations of your current and future staff is a great way to build a strong employee proposition. So when was the last time you reviewed your employee benefits offering?

Here are just some of the trends we’re seeing.

Most sought-after employee benefits

• Hybrid working, although there is certainly a shift from employers for employees to spend more time in the office
• Remote and working from home options
• Flexible working to fit in with family / personal life. Offering flexible start and end times with the ability to do school pick ups, dog walks etc

Financial benefits

• Enhanced sick / maternity / parental pay
• Additional company pension contributions
• Life assurance (3 or 4 times salary)
• Bonuses or company profit share schemes
• Staff discounts
• Discounted shopping and cashback offers via a reward gateway
• Cycle to work schemes

Enhanced annual leave

• Minimum 25 days of annual leave plus bank holidays and in some instances rising to 30-33 days
• The opportunity to buy or sell annual leave
• Rising holiday entitlement with length of service
• An extra day off on an employee's birthday and/or during the Christmas period (or religious holiday of their choosing)

Health and wellbeing support

• Wellbeing focused days / time off
• Access to employee assistance programmes
• Free counselling and mental health first aiders
• Premium access to the Calm or Headspace app
• Free personal training sessions
• Free or discounted gym memberships
• Time to undertake community / charity-led initiatives

Additional employee benefits

• Free HRT prescriptions
• Free flu jabs
• Free onsite organic meals
• Menopause training
• The opportunity to exchange one day's leave for time off in one or two-hour chunks
• Option to take a sabbatical after time in service
• Electric car schemes

If we can help support you with your employee offering to find the best talent from across the South West, get in touch.