The secret to building an organization that thrives and stands out is to retain top talent. Salary sacrifice schemes are the key to success!
benefits packages are a must if you want to attract the best talent and retain your top performers. The fact is that 65% of job candidates find benefits to be a critical factor in a job offer, and 70% of employees will stay longer if offered a great package ( 1). What makes salary sacrifices such a great idea?
1. We cater to all aspects of life
Salary sacrifices can take many forms. They range from saving on home and tech items to services such as childcare, gym and even booking holidays. salary-sacrifice allows employees to choose what is most important to them. Offering a wide range of options to your employees will enhance their roles and set a good example for prospective employees.
2. Support your people beyond the workplace
Salary sacrifices are a great tool to offer a variety of benefits outside the workplace. Salary sacrifices are a great way to avoid a “one-size-fits-all” approach, as your team is able to choose exactly what they need when it’s right for them. Reduce financial barriers for everyday necessities and desires to boost employee morale. You can make yourself a more desirable employer by offering perks that are tailored to the needs of professionals.
3. Easy and hassle-free way to offer great perks
Are you aware that salary sacrifices can be a cost-effective way to improve your company’s benefits package at a reasonable price? Most salary sacrifices can be easily managed and are inexpensive to implement. Employers can save on National Insurance contributions if they reduce the salary of employees who use the scheme. This scheme saves employers and employees time and money, while making your team feel valued and supported.
There’s no better time than now to implement salary sacrifices in your business, with their increasing popularity!
References: Avado, 2024, ‘Employee Benefit Trends to Study in 2024’: https://www.avadolearning.com/blog/employee-benefit-trends-to-study/
