Opinion #HR
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22 June 2022
The role of employee benefits programmes in retaining and attracting talent
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The role of employee benefits programmes in retaining and attracting talent

Tobin Murphy-Coles, CEO at Amba, discusses the changes in workers’ priorities since the start of the pandemic, and how employers should adapt to meet the needs of a new type of workforce with new expectations.

The world of work post-pandemic

The pandemic has led employees to reflect on what truly matters to them in the workplace. In particular, there has been a shift towards people becoming more socially and environmentally conscious.

In fact, research suggests that 85% of Brits made lifestyle changes to become more sustainable in 2021. Naturally, these individuals are expecting this shift to be reflected in their work life too.

Employees have also become increasingly aware of their own mental and physical wellbeing, and are prioritising this throughout every aspect of their lives, including at work. This shift has been amplified by a new generation of workers beginning to come to the fore. Millennials and Gen Z now make up over 50 percent of the workforce, and research suggests that these individuals are far more likely to seek out employers that are proven to have strong values and ethics.

Undoubtedly, these changing priorities have contributed towards the “Great Resignation”. Workers are quitting their jobs at unprecedented rates, leaving to join organisations that better represent their values or to work for themselves. Clearly, it is essential for business to respond to this shift, or risk losing out in the fight for talent.

Responding to the new world of work

While salary just about remains the most important consideration for workers, employees are increasingly seeking “soft” perks to enhance their experience in the workplace. Workers want to feel valued and a part of a supportive and inclusive team. They want to work for a company that ‘does good’ by both its people and the planet.

For large businesses, comprehensive ESG benefits programmes offering their staff a range of ethical employee benefits, from electric car schemes, through to ethical pensions and wellbeing schemes, offer a fantastic opportunity to demonstrate a commitment to sustainability and employee wellbeing.

However, businesses mustn’t let their size or lack of resource available put them off investing in ethical employee schemes of this kind. All businesses can and should be taking a proactive approach. For those that aren’t in a position to invest in a large-scale benefits scheme, platforms like Lumina Perks, an online marketplace offering employees a range of discounts and special offers on a host of ethical, sustainable, or socially conscious brands, provide a great solution which is low cost and low maintenance, but impactful.

To conclude

With UK employers facing a retention crisis, sustainable and ethical workplace perks and benefits programmes offer a fantastic solution for businesses to demonstrate a clear and measurable commitment to supporting their staff, the community, and the environment as a whole. Employers of all sizes are under increasing pressure to demonstrate their commitment to ESG, and it’s those that do this effectively that will be successful in hiring, retaining, and developing a talented, productive, and motivated workforce.

To find out more about how Amba supports HR decision makers and business owners to attract and retain the best possible people, check out its Lumina technology and visit https://lumina-uk.com/

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