How To Incorporate Benefits Into Your EVP
18th Jun 2023
The perks and benefits you provide that go beyond monthly salary make up a big part of your EVP. It shows your employees that you genuinely care about their well-being, their future, and their work-life balance. And on top of that it helps you to attract, retain and engage top-notch talent!Not only do benefits enhance job satisfaction and employee morale, but they also contribute to productivity, loyalty, and, most importantly, your company's bottom line. The power of perks should not be underestimated!
Identifying the right benefits for your company’s EVP
When it comes to identifying the right benefits for your EVP, it's like assembling the perfect puzzle. You want to find those puzzle pieces that fit perfectly with your employees' needs and preferences. So, how do you go about it?
First things first, you need to understand your workforce inside out. Take the time to listen and gather feedback from your employees. Carry out anonymous surveys or interviews to get insights into their priorities and what would make a real difference in their lives. Make use of our employee satisfaction measurement tracker to help you get started.Remember, one size does not fit all, so aim for a diverse range of benefits that cater to different needs. Also, keep an eye on industry benchmarks and trends to stay competitive and in the loop. With insight from your employees and data to support your decisions, you’ll be well on your way to creating an EVP that resonates with your employees and candidates.
Designing a comprehensive benefits package
Designing a comprehensive benefits package is like crafting a personalised gift for your employees.
And here are the most desirable options and perks right now, in accordance with data we’ve collected at Flexa from millions of candidates. This will help you make informed decisions on the types of benefits you can consider providing (bonus points if you’re offering any of these already).
- 81.6% are in search of Work From Anywhere schemes
- 43.5% are seeking part-time opportunities
- 42.6% would love a Work From Home allowance
- 34.7% are in search of companies offering mental health support
- 29.6% would like a well-being allowance
- 27.2% desire unlimited annual leave
- 25.1% are in search of companies offering summer hours
- 23.9% are seeking companies that offer compressed hours
- 16.8% would love the option of enhanced parental leave
Health and wellness benefits:
- Medical insurance
- Well-being programs and initiatives
- Mental health support services
- Health savings accounts
- Cycle to work scheme
Retirement and financial benefits:
- Retirement savings plans
- Stock options or share equity
- Financial planning and education resources
Professional development and learning opportunities:
- Training programs and workshops
- Educational reimbursement or tuition support
- Mentorship or coaching programs
- Skill development initiatives
- Internal career advancement opportunities
Get your EVP the attention it deserves
Once you’ve crafted an EVP that truly resonates with your company and employees, you’ll be ready to start shouting about it. As well as leveraging social media, your marketing and your internal communication channels, you should consider using an Employer Branding platform like Flexa and here’s why.You’ll be showcased to millions of users and be amongst top brands like Mars UK, Virgin Media O2, Huel, as well as companies like Amplifi, who have seen a 65% increase in the diversity of their pipeline after using Flexa. And Flipdish who haven’t made an agency hire for six months despite spending six figures on recruitment during the previous period.