How to Retain and Attract Staff without Having to Stress Your Finances

Owners of small businesses are often faced with the challenge of staying competitive with larger companies. Smaller businesses can struggle to stay competitive in all aspects of business operations, including pricing, quality, and distribution. This is especially true for attracting and keeping employees.

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Larger companies have greater budgets which allows them to spend more on the best resources and give their employees better benefits and salaries. A minimum of 66% of workers agree that strong benefits and perks packages are the most important factor in deciding whether they accept job offers. Randstad’s OmniPulse Survey found that 61% of respondents would be willing to accept a lower pay if the company offered better benefits.

One4all Rewards research shows that 83% of employers want regular rewards and bonuses for their employees to increase morale, motivation, and loyalty. Yet, 53% of respondents stated that they could not afford to offer benefits due to insufficient budgets.

Small companies need to be careful about their benefit packages. How do they impress candidates without putting pressure on their finances?

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What are the benefits of investing in benefit plans?

All employees, regardless of company size, deserve a benefit package which protects, engages, and rewards them. While good benefit programs will help staff retain and attract them, it’s not about the numbers.

Your workplace will be happy and productive if your employees feel valued and supported.

The absence of employees can have a direct impact on your company as well as an indirect effect on your staff. Many staff will be required to take on the work of absent colleagues, which can increase their workload and cause morale to drop. It can lead to errors due to too much work, and it could also jeopardize customer relationships. Employees who take time off frequently can cause delays to projects and reduce consistency within teams. This can lead to lower productivity.

It could be possible to reduce the negative impact on employee health by investing in workplace wellness programs that are tailored for employees. You can improve morale, increase work-life balance, and positively impact your company by creating a safe, healthy, and positive environment for your employees.

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Employees who have health benefits feel valued and encouraged to take responsibility for their own health. Employees who feel valued and are healthy will be more productive at work. Organisations can also make significant cost savings by encouraging health and reducing absences due to sickness.

How can you retain and attract staff at the same level of your larger competitors?

Bravo Benefits is here to help companies manage and support their employees’ health and well-being. Smart Hive Mini and Smart Hive platforms provide a variety of benefits at an affordable price that can be customized to meet the needs of your workforce.

Smart Hive allows you to offer a comprehensive employee benefits package, and increase employee engagement with innovative communication tools. You can customize the platform to meet your needs and that of your employees, so you can make sure you offer the best benefits package for your employees.

Smart Hive Mini, a smaller version of Smart Hive, is designed for small businesses with 50 or fewer employees. You can select up to three benefits for a lower price. These benefits include access to existing benefits and the ability to upload employees. Access to documents, fact sheets, and resources will be available for your employees. Upgrades to the Smart Hive will be available.

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Our platforms change the way SMEs offer employee benefits. Our platforms make it possible to reward and support employees.