Companies have understood that current employees are not motivated by just their wages paid on time . Something more is needed for them to work engaged and satisfied with their work.
Offering benefits is a very efficient option for this. Through the right benefits, it is possible to show employees that they are valued by the company .
In this way, the company can count on an increase in the productivity of its employees, greater integration among the team and, consequently, an improvement in the organizational climate .
However, it is not so simple to create a benefit package. Planning is necessary so that there is no mistake when choosing the options that suit the team.
Therefore, it is necessary to carry out an efficient benefits administration in order to have results.
The administration of benefits is the realization of a set of processes that guarantee the correct maintenance of the benefits offered to employees so that they are fair and compatible with the market. Its objective is to contribute to retaining talent and reducing costs in the company.
Thinking about the importance of conducting a successful benefits administration to ensure the motivation of its employees, we have separated some tips for your HR to be able to carry out this process correctly, ensuring a positive return.
Check it out here!
What is benefit management?
The offering of benefits is a great differential in people management when it comes to maintaining and retaining talent .
A company that offers an attractive benefits package , increases its chances of reducing the turnover of its employees. It keeps them more motivated, achieving greater productivity and competitiveness within the organization.
The administration of benefits is nothing more than a set of measures aimed at maintaining the needs of the employees of a company, both socially and economically.
The objective of this management is to guarantee the satisfaction of these needs in order to result in greater employee motivation and, consequently, a greater incentive in their performance.
Therefore, by having a management plan structured in accordance with the company’s culture and the needs of employees, the company will be able to guarantee that its workforce will achieve its personal and professional goals.
The benefits of efficient benefit management don’t stop there! By properly managing the benefits, the employer can count on an easier way to achieve his goals.
For example: the company will be able to attract and retain employees, reduce turnover and the amount of hours worked, in addition to finding out what social security needs are.
What are the benefits of benefit management?
To better guide you on the subject, find out what are the main benefits of managing benefits for employees and companies. Look:
Integration between company and employee
Providing employees with a sense of belonging is one of the keys to success for any company.
Through a correct administration of benefits , it is possible to promote integration between different areas of the company , strengthening ties with the organization.
Increased productivity
Through a transparent policy , in which the benefits and expectations of growth are aligned between employer and employee, it is possible to make everyone more satisfied.
When the employee feels recognized and valued by the company, employees feel more satisfied and happy at work , which can stimulate creativity and, consequently, increase the team’s productivity .
Turnover reduction
A benefits administration efficient is essential to reduce the rate of turnover of employees in the company.
By investing in the right benefits, such as offering bonuses, performance awards and career plans , employees will be more motivated to stay with the company.
They will try harder to grow and remain in the company and thus contribute to the organization’s achievements .
How to carry out this management?
As you can see, there are many advantages to efficient benefit management. The only problem is that carrying out this management can be a challenge, especially if the company does not have the help of HR.
To assist in this mission, we have separated 5 ways to help HR improve and streamline this process:
1. Analyze the current benefits
First, it is necessary to know the current benefits offered by the company to try to understand if they are giving results and what are their possible inefficiencies.
It can happen that the organization spends a lot of money on several benefits and does not get any results. This is because the benefits offered are not relevant to its internal public.
There is no point in offering daycare assistance, if most employees do not have children, for example. Therefore, the first step is to reevaluate the current benefits package .
2. Eliminate unnecessary benefits
The second step is to eliminate all those irrelevant benefits for employees.
This will make the administration of benefits for HR an easier task, and can focus on what really matters.
Thus, the company can save money, having a larger budget to invest in benefits that your team really wants to receive.
3. Educate the team
To ensure that employees are satisfied with the benefits received, it is necessary for them to understand the benefits package in general , as it is not possible to fulfill all wishes.
The details can be confusing, so it may be necessary to gather all the information to show all the benefits that the company offers to aid decision making.
4. Using management software
Controlling the various benefits offered to employees manually is a very arduous and time- consuming task for the HR team .
Therefore, enlisting the help of some type of benefit management software is essential.
In this way, HR professionals will be able to eliminate stress by focusing on the part that really matters.
Through quality benefit management software, companies will be able to perform various functions, such as:
- manage several different benefit plans;
- access employee benefit information;
- monitor possible changes in requirements;
- store information in the cloud.
Offering benefits to employees is a smart strategy to retain and attract talent from the market .
For that, benefits management needs to be effective to ensure that all employees get the coverage they need.
