Attention to the wellbeing of their employees is an increasingly important factor for companies because it has a strong impact on business sustainability and growth.
Nowadays, a good welfare policy can greatly enhance a company’s strategy by hitting the priority objectives defined by the HR plan: improving retention, talent enhancement, respect for diversity and inclusion, sharing business results, attracting talent. Through welfare, in fact, companies can create policies that enhance the achievement of their long-term HR objectives. This is why today, many companies consider corporate welfare as a strategic business and attractiveness lever.
What is corporate welfare
Corporate welfare is the set of initiatives made available by companies to their employees with the aim of creating wellbeing by improving the quality of life of their employees and their families through a set of benefits and non-monetary services that have an economic value. Of all the corporate welfare services, the most appreciated by workers are the flexible benefits: flexible benefits that range from vouchers to purchase coupons, from additional retirement savings to supplementary medical care, from leisure or health services to the refund of expenses for education, the costs of education and assistance. This increases the purchasing power of employees without affecting taxation.
Increased productivity and loyalty with welfare
It follows from the above that corporate welfare is a valuable tool for companies. Indeed, by improving the working climate and benefiting the wellbeing of employees, a good welfare plan improves work life balance levels and makes the company attractive to both new and existing talent.
In addition, greater motivation, more satisfaction, attention to work-life balance, and a positive corporate climate contribute to higher performance because employees work with more serenity and a desire to achieve concrete results, feel supported and perceive a real focus on their needs. Today, in fact, workers do not only value pay, but also consider a range of other non-monetary benefits, including the overall working environment: from growth opportunities to flexible working hours, from smart working to a focus on sustainability and work-life balance.
Therefore, developing an effective corporate welfare plan also means increasing the quality of life of employees and the success of the company.
How to implement an effective welfare plan
Defining the right welfare choices for your company is crucial for success. To do this it is necessary to start with an analysis of the real needs of employees in order to support and facilitate the actual needs. Then it is necessary to establish the budget and finally design and implement the entire catalog of benefits that can also be managed through a web platform external to the company to allow for the correct management and implementation of the service, for example with a partner such as MySarma Welfare that can guarantee constant support from the design to the delivery of the plan.