The benefits – the very first thing a potential employee asks about. Now, of course, any employee can grow to be dissatisfied with his benefits, either because a different company offers better ones or because these are of little to no actual help.
Subsequently, assessing the Benefits Satisfaction in your company from time to time is an absolute must, given that this will help you understand what employees want, what they have and what you can offer in the future.
What Is Benefits Satisfaction?
Most HR metrics are really difficult to understand, and Benefits Satisfaction is not one of those. This is merely a survey handed out to employees, filled out and read thoroughly. If your personnel has always made a big deal about not being offered good benefits, you’ll get a sense of what they want.
The vast majority of employers offer the most basic of benefits: medical insurance, dental plans, and retirement plans. However, there are plenty of other types of benefits that are not even taken into consideration:
- sports benefits (for example, a company that I used to work for gave each employee around $30 a month in order to purchase sports equipment)
- food discounts
- transportation benefits
- free lodging at certain hotels
- monthly get-togethers at the expense of the employers
Naturally, all of these bring about an additional expense, an expense which many employers don’t afford or can simply do without. When you gather up those surveys, you’ll see that there are always people who think that you can do better.
Obviously, if they out-perform themselves each month, maybe they have a point: you should step up your game when it comes to benefits. You should make that financial sacrifice that might not even chip your ROI and incentivize them with those benefits – or part of them – that they’ve been pining for.
It also can happen that people are asking for something that cannot be achieved. This usually happens in small companies that don’t have huge operating incomes and are trying to do whatever they can to improve things from year to year.
Let’s assume that your employees are not as satisfied with the bulk of benefits that they’re currently getting. What can you do? Well, first off, you should allow them to express their points of view during a meeting.
If you crumple the surveys as fast as they were put on the table and you’re satisfied with having gotten over with so fast, you’re doing it all wrong. The benefits that they want might not be that much of a financial predicament for you, so by not listening to them in such a context, you’d be sabotaging yourself and destroying their trust in you.
It’s certainly understandable that an employer cannot do better when it comes to benefits, but if he can and is unwilling to, then there’s a problem. Use the Benefits Satisfaction survey in order to see what – if anything – you can do to boost your employees’ morale a little bit.