Advivo Partner, Dale Edwards, shares tips on how to align employee benefits with your goals for the new financial year
Running a business comes with unique challenges and opportunities. One of the most impactful ways to boost your business’s success is by aligning employee benefits with your business goals. This isn’t about ticking boxes or following trends—it’s about creating a win-win situation where your employees feel valued and motivated, and your business thrives. Here’s how to get started.
Define Clear Business Goals
Before you can align employee benefits with your business goals, you need to clearly define what those goals are. Are you aiming to increase productivity, improve customer service, or expand your market reach? Clear goals provide a roadmap for choosing the right benefits.
Understand Your Team
Get to know your employees. What are their needs and preferences? Conduct simple surveys or have casual conversations to gather this information. Understanding your team’s demographics and priorities helps you offer benefits that will be genuinely appreciated.
Offer Practical, Flexible Benefits
Skip the gimmicks and focus on the benefits that matter. Here are some practical options:
- Work-Life Balance: Flexible working hours or the option to work from home where it can help them manage family commitments.
- Professional Development: Support for courses, workshops, or relevant certifications.
- Reimburse for flu/COVID vaccines (when they aren’t being provided free by the government): This helps keep staff healthier through colder weather and reduces sick days.
Connect Benefits to Performance
Motivate your team by linking benefits to their performance. For instance, offer bonuses, additional leave days, or professional development opportunities for meeting specific targets. This not only drives performance but also aligns individual efforts with business success.
Invest in Training and Development
Your employees are your greatest asset. Investing in their professional growth pays off for everyone. Provide access to training programs, workshops, and industry events. This helps them develop new skills that can directly benefit your business.
Promote a Healthy Work Environment
Create a workplace that prioritises health and well-being. Is it clean, tidy, and a place that feels good to be in? Simple initiatives like providing ergonomic furniture, healthy snacks, and promoting regular breaks can make a big difference. A healthy team is more productive and engaged.
Communicate Your Business Strategy
Ensure your employees understand your business strategy. Here’s how:
- Be Transparent: Share your business goals and plans during team meetings. Explain the ‘why’ behind your strategy.
- Be Clear: Use straightforward language. Avoid jargon and keep your message clear and concise.
- Involve Your Team: Make it clear how each employee’s role contributes to the bigger picture. This helps them see the direct impact of their work on the business’s success.
Show How Benefits Support Business Goals
Help your team see the connection between the benefits they receive and the business’s success. For example, explain how a wellness program can reduce sick days, leading to better overall productivity. When employees understand this link, they’re more likely to engage with and appreciate the benefits offered.
Gather Feedback and Adjust
Regularly seek feedback on your benefits program. Are the benefits meeting their needs? Are there any changes or additions they’d like to see? Use this feedback to make adjustments and keep your benefits package relevant and effective.
Celebrate Successes
Recognise and celebrate when your business hits milestones or achieves goals. This boosts morale and shows your team that their hard work contributes to the company’s success. It also reinforces the value of the benefits they receive.
For business owners, aligning employee benefits with business goals is about creating a practical and mutually beneficial relationship. By understanding your team, offering meaningful benefits, and clearly communicating your business strategy, you can foster a motivated and engaged workforce that drives your business forward. Keep things simple, transparent, and focused on what truly matters, and you’ll see the rewards in both employee satisfaction and business performance.
