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According to a research study by Metlife, \u201c<\/span>51% of employers<\/a><\/strong> say that using benefits to retain employees will become even more important in the next three to five years.\u201d<\/span><\/p>\n Employee benefits are either monetary or non-monetary rewards that are paid to employees. These employee benefits are over and above the regular salary of an employee. Often also known as the fringe benefits, most of the businesses rely on several employee benefit schemes to attract new employees and retain the existing ones. Several employees also look at the perks and benefits offered by an organization before applying for a job in that company.<\/span><\/p>\n Employees seek recognition for their hard work. They want their efforts to be acknowledged and offering them benefits will make them feel appreciated and happier.<\/span><\/p>\n Employee benefit schemes can broadly be classified into four types. Most of these benefits can fall under the umbrella of these four benefit schemes.\u00a0<\/span><\/p>\n There are several ways in which you can boost employee productivity in your business. Here are six effective ways to go about it:<\/span><\/p>\n This benefit will take priority as a work benefit. Numerous employees suffer from work-related stress and anxiety. As a result, several productive days are lost. More than 20% of employees at any given time are not happy with their work-life balance in a moderate size company unless there are additional employee benefits.<\/span><\/p>\n How to counter all the above issues? It’s rather simple. Prioritize work-life balance for your employees. Focus on their well-being and make it a culture for your business. Modify your people management practices to ensure workplace wellness. Create a good work environment that is dedicated to the employees. Ensure that your organization cares for each one of your employees.<\/span><\/p>\n Set up a break-out area with a coffee machine. Encourage your employees to take regular breaks. This will show that the organization takes its employees seriously and encourages them to take their well-deserved breaks.<\/span><\/p>\n You can also encourage your employees to take regular reading breaks. Arrange for a bookshelf and stuff it with a variety of books, be it fiction or nonfiction. Adding developmental and business-related books can also expand the learning opportunities for the employees.<\/span><\/p>\n Simple benefits can go a long way. For instance, offering work from home was a great way to show you care. However, in this pandemic situation, working from home has become a new norm and is not considered a benefit anymore. But you can offer the flexibility to work whenever they want, as long as they put in the requisite work hours. Several organizations follow this simple rule. This allows employees to set their priorities and work at their convenience.<\/span><\/p>\n You should make it a point to meet up with your team, once in a while, and talk to them about their needs and demands. When you give them a patient ear, you will find that they are willing to take their responsibilities more seriously.<\/span><\/p>\n Who wouldn’t want to be appreciated for their hard work? Any form of appreciation can motivate an employee to do even better every day. Often, saying a simple “thank you” can do the trick. But as benefits, rewarding and recognizing the employees can be one of the best ways to retain them and make them happier.<\/span><\/p>\n There are so many ways in which you can reward your employees that involve no cash payouts.<\/span><\/p>\n Most organizations offer health benefits and insurance plans for their employees. Apart from the usual ones, you should offer benefits that are not the typical ones. This will not only lower the rate of attrition in your company but also attract new employees in the long run. A few examples of these types of benefits include:\u00a0<\/span><\/p>\n Support your employees in paving a career pathway for their future. Help them in building their skills and knowledge that can improve their career. This will not only prove that you value your employees but also give your employees a boost in their spirits. Here are a few ways in which you can do this:\u00a0<\/span><\/p>\nEffective ways of using employee benefits for enhancing employee productivity\u00a0<\/span><\/h2>\n
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1.\u00a0 Set priorities for work-life balance<\/span><\/h3>\n
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<\/p>\n2. Create a positive workspace<\/span><\/h3>\n
3.\u00a0 Boost the morale of your employees<\/span><\/h3>\n
4. Recognize and appreciate even the smallest achievement<\/span><\/h3>\n
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5. Offer benefits other than the typical ones<\/span><\/h3>\n
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6. Help in employee growth by creating a career path<\/span><\/h3>\n
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Conclusion<\/span><\/h2>\n