How to build an attractive employee welfare regime

Along with the development of society, employee welfare has become a "survival" problem that businesses must solve if they want to preserve the talented team. Changes in the trend of human resource management require businesses to build professional remuneration regimes, "touching" the needs of employees.

What is employee benefits?

The employee welfare regime is the remuneration policy in addition to the salary and bonus. The purpose of the welfare regime is to provide necessary facilities to ensure the comfort and convenience of employees, thereby encouraging employee morale and increasing productivity. Welfare policies can be financial incentives such as insurance, benefits or non-financial incentives related to the health and safety of employees.

Benefits of building employee benefits

Retain employees, reduce turnover rate

Employee benefits are one of the best methods to improve employee engagement. When receiving attention and thoughtful treatment, employees will feel more attached to the organization. As a result, businesses can build effective employee retention strategies.

Improve labor productivity

The purpose of employee welfare policies is to increase employees' job satisfaction, thereby giving them the motivation to work more productively. When fully provided with the necessary conditions, employees will not be distracted by personal problems such as "rice and money" and fully focus on work.

Recruitment breakthrough

Remuneration is an effective tool for employers in attracting talent. The top concern of employees when considering applying to the company is always salary and remuneration policies, because it directly affects their benefits. Therefore, if properly built, the remuneration regime can be considered as a competitive "weapon" of enterprises in the human resource market.

How to build an attractive employee welfare regime – The key to retaining talent

The process of building employee benefits from A to Z

Step 1. Survey & assess employee needs

In order to build an effective corporate welfare regime that meets the needs of employees, you first need to know what your employees need, what problems they face and what solutions they want.

Employee surveys will help companies find and assess the urgency of the needs that exist in the human resources team. You can use a variety of survey forms such as questionnaires, interviews, groups, and employee behavior monitoring.

Step 2. Define your goals

Once you've identified your employee's needs, you need to develop them into goals for your benefits policy. These goals will have to help the business solve employee problems and meet their needs.

Step 3. Plan your budget

The next step is to make a specific plan for employee benefits. The factor that needs to be considered here is the cost that businesses will spend to provide benefits to employees. Expenditures need to be calculated and considered carefully to both meet the needs of employees and the ability of the enterprise.

Step 4. Deploy application & internal communication on welfare

After completing the plan of the welfare policy, the next thing is to apply it by notifying all employees. Enterprises need to provide full information about the welfare regime, including eligibility for benefits, subjects of application, and methods of implementation to ensure employees clearly understand their benefits.

In addition, enterprises also need to widely communicate the policy to all employees and receive comments and amendments if necessary. This will help the policy receive more attention and support from employees, and the corporate image will also be enhanced.

Step 5. Evaluate effectiveness

To find out if the benefits package meets your organization's goals and is right for your employees, you need to conduct monitoring and evaluation of the policy's effectiveness. Indicators that businesses can use to measure efficiency include: employee satisfaction, labor productivity, engagement index, etc.

The latest trend of building compensation policies for employees today

Financial health protection for employees

Financial health refers to an individual's financial situation, related to income, savings, payments to cover life. For workers, financial pressures can have a huge impact on productivity, especially during periods of social and economic upheaval. Concerns about "rice and money" and monthly expenses make them always in a state of stress and unable to concentrate on work.

Therefore, the timely implementation of welfare regimes plays a great role in improving the quality of life of employees. Practical support policies will provide employees with a stable financial "fulcrum" and help them reduce their worries of "rice and money", thereby focusing entirely on work and labor productivity. is therefore also enhanced.

Building a flexible working environment

The working environment has gradually become a necessary condition for employees to work efficiently and effectively. A comfortable, flexible environment allows employees to be more creative and enthusiastic at work, and mental health is also ensured.

To build a flexible and friendly working environment, you can consider the following methods:

- Remote working: Provides flexibility in how employees work. With this policy, employees only need to come to the office when there are important meetings. The rest of the day, they can choose to work from home or elsewhere.

- Loosen dress code: Too restrictive rules can make employees frustrated and uncomfortable. So relax the dress code, specifically just wear the company uniform on certain days. The rest of the days, employees can wear their own clothes according to their preferences. This also has the implicit meaning that the company respects the individuality and color of each individual.