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Employee benefits are a great way to attract talent and to keep staff motivated. Company review site Glassdoor reports that nearly 80% of employees would choose a good benefits package over a pay rise, with 60% considering benefits a major factor in whether they would accept a job offer.
The hottest places to work tout chef-made lunches, massages, yoga classes and holiday reimbursement, but there’s no need to break the bank: company benefits schemes can start from just £1 per employee per week. Today we’ve rounded up ten of the most innovative benefit schemes for rewards your employees will actually want.
Perkbox combines perks, recognition, wellness, feedback and communication for an all-inclusive employee experience platform.
Employers can shout out staff who have gone the extra mile, set up awards for company values and purchase rewards that employees will actually want. Daily perks include affordable fitness, entertainment and shopping, along with a few freebies for good measure.
Perkbox’s platform also includes engagement surveys and fast-tracked NHS appointments – two features that tie in nicely with your company’s existing HR system.
Pricing varies; visit Perkbox for a quote.
yulife incentivises your team to make healthy choices by awarding coins to spend on rewards. Walking, meditation, mindfulness and good sleeping patterns all earn yucoin, which go toward gym memberships, gig tickets, gift cards and air miles. There’s also a built-in leaderboard for team members.
Pricing starts from £4.99 per member, per month.
Caboodle’s Salary Extras platform offers a wide range of benefits that can be customised to your company’s needs.
Standard packages include financial wellbeing, health, transport and shopping discounts; existing benefits schemes tie into the platform. For extra motivation, there’s functionality to send employee awards, rewards and peer-to-peer recognition.
The Flex Benefits scheme offers even more freedom by letting employees decide how to spend their allowance.
Pricing is bespoke; visit Caboodle’s site for a quote.
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Medicash offers health cash plans that give employees an allowance for healthcare not covered by the NHS. Most plans cover employees’ children, and bespoke and flexible plans are also available.
Medicash Plus includes dental, optical, private GPs, prescriptions, complementary therapies and specialist consultations, with three levels of payment.
Pricing starts from 95p per person, per week for Medicash Plus or £1 per person, per week for Medicash Proactive.
Here’s something a little different: EdAid uses employer contributions to pay off employees’ student loan debt. The Financial Times predicts that two-thirds of recent British graduates will never pay off their entire student loan, so why not lend a hand?
When companies join the Paydown scheme, staff who are currently making repayments to the Student Loans Company through payroll deduction can sign up to have their repayments – or a portion of them – paid by their employer instead.
Employees with non-UK student debt can enrol, too, no matter their nationality or school.
Contributions start from £50 per month; as an employer, you’ll also pay a 5% processing fee.
The Each Person platform lets you send recognition to colleagues through ecards; you can choose to attach epoints as a reward. Employees can spend points on products, vouchers and experiences from thousands of brands and earn more through shopping and playing games.
100% of the money you invest into Each Person goes back to rewarding your employees; there are no service or setup fees and the system is free to run.
Bonusly is a staff recognition platform where points add up to rewards. Everyone in the company, no matter their rank, can recognise an employee for their achievements.
Recognition can be tied to hashtags for specific company values, and it’s simple to personalise messages with images, GIFs, links and emoji. Every member has a monthly points allowance to give out, and points received can be spent on gift cards for popular brands including Amazon, Steam, PayPal, Whole Foods and Starbucks. While it’s an American company, the system works globally – so it’s a great fit if you have staff in several countries.
It’s also possible to tie in referral bonuses, sales incentives and wellness awards if you spring for the Bonusly Pro package which will run you £3.04 per user, per month.
Pricing starts from £2.04 per person, per month for the Core plan.
Neyber is a financial wellbeing benefit that costs companies nothing and offers employees financial advice, affordable loans, savings and investments.
Loans are salary-deducted, so Neyber is able to offer lower interest rates than other lenders. The company is regulated by the Financial Conduct Authority, so there’s no financial risk for employers.
Neyber is free and designed to slot seamlessly into your payroll system.
Reward Gateway helps to improve employee engagement and retention through recognition, perks and rewards. The platform includes internal messaging and eCards congratulating colleagues on a job well done. Salary sacrifice and discounts are both present, and there’s an emphasis on employee wellbeing.
Pricing varies; contact Reward Gateway for a quote.
ArtsCard is a newcomer to the employee benefits scene and the first of its kind to focus on culture and the arts. Membership gives your employees discounts and value-added experiences in events, screenings, workshops and courses. Partners so far include BFI Film, Tate, National Theatre and the Science Museum; while venues are fairly London-centric, there are a few further afield.
ArtsCard is currently under review, with more information available on request.