“I want to hire outstanding talents.” “I don’t want outstanding talents to quit the company.” These are some of the concerns that a lot of people in charge of HR are also burdened with. On the other hand, it is necessary to establish an environment where employees would find it easy to work in order to realize these aspirations.
Therefore, many companies have been introducing comprehensive welfare benefits and have been trying and failing in their attempt to create an environment that is comfortable to work in for employee.
So what sort of welfare benefits do employees actually seek from companies?
Now, I would like to give an introduction about welfare benefits that employees seek and welfare benefits that companies are actually providing based on the data published by JobThai.com as well as also explain about the advantages of welfare benefits and the like.
Top 10 welfare benefits sought by employees
What sort of welfare benefits do employees actually expect upon working at a company? The landscape, so to speak, of employees demanding from companies varies depending on the generation.
Those who are thinking that they are okay because their company has introduced XX might also want to take a look at these now.
Its results are as follows.
- Paid leaves
- Social security
- Health insurance
- Paid overtime
- Credit unions
- Medical expense coverage for employee’s family members
- Flexible time
- Life insurance
- Allowance for perfect attendance
On the other hand, what sort of welfare benefits have companies actually introduced?
JobThai.com did a survey about “welfare benefits that have been introduced” on 457 HR professionals working at companies.
Its results are as follows.
6.Work clothes pay
7.Annual health checkup
8.Allowance for perfect attendance
9.Marriage and childbirth present
There are a lot of companies that have introduced five of the top ten welfare programs sought by employees. Yet, it is also true that there are companies that have not yet introduced the welfare programs sought by employees.
And then, there are also a lot of employees who desire flex time, which perhaps indicate a generational change.
Companies in the future might ought not to just provide things and money but also study “the manner of work.”
Why are welfare benefits important?
So why is it important for companies to introduce welfare benefits? Most jobseekers perhaps place emphasis on the details of the welfare benefits written on the job listing when looking for a job, so welfare benefits also helps the company become more appealing.
In addition, introducing comprehensive welfare benefits and establishing an environment where it is easy to work is necessary to recruit outstanding talent and strive for their retention.
Because of that, knowing what sort of welfare benefits working people seek from companies might be a very important thing for companies.
On the other hand, a company that has no welfare benefits does not feel appealing to jobseekers, and in addition they also face the risk of turnover due to the welfare benefits and such of other companies ending up looking attractive to the employees working at that company.
3 typical welfare benefits
While they are simply called welfare benefits, there exist several types of them. I shall introduce the typical ones divided into three groups.
- Residence allowance
- House rent assistance
This means paying for a large part of the employee’s living expenses when they are living in a rented residence near the office or buying a house.
Some companies pay housing assistance and the like with the goal of lessening such burden even by just a little.
- Childrearing leaves in addition to those mandated by law
- Childrearing leaves and/or assistance for male employees
There are also those who encounter childbirth after having joined the company. On the other hand, there might also be a lot of those who would feel uneasy about being able to go back to work at the company after giving birth.
Some companies place emphasis on creating an environment that is easy to work in both before and after childbirth for the sake of such employees.
- Health checkup
- Mental healthcare
It is necessary for the employee to be able to continue working healthily in order for the company to realize continuous growth. Therefore, most companies have introduced welfare benefits related to health.
Besides this, companies have introduced a plethora of welfare benefits. It might be not a matter of introducing all of them, but rather making clear what sort of welfare benefits are necessary for the company and then studying its introduction and improvement.
Are salaries more important than welfare benefits?
I think there are also a lot of people who think it is better to repay the hard work of employees with salaries rather than introduce comprehensive welfare benefits for the sake of employees who are working.
However, in almost all cases, it is hard to change the environment where employees work in terms of individual employees.
For example, huge expenses are incurred no matter what when buying equipment to change the environment of the office where employees work. These are also things that cannot be compensated with individual salaries and such.
In addition, it is a system where corporate has the control, such as the leave system, among others, and it can be said that repaying the everyday hard work of employees does not necessarily mean it can only be in the form of wages.
Besides salaries, establishing welfare benefits is also important for the employees to work healthily.
In addition, the management resource that is personnel have also become very important for companies recently.
Providing comprehensive welfare benefits can also be said to be a step for making an environment where employees would find it easy to work and building an internal environment where individuality and capabilities are sufficiently exhibited at work.
The point of welfare benefits is “motivation” and “ease of work”
Companies need to change the working environment to match drastic generational changes, too.
Companies have become increasingly globalized up to this point. And in order to make companies continuously grow, it is necessary to acquire and retain outstanding talent and it is important to create an environment where employees can work healthily.
As a point we can take away from here, it is important to create an environment where an employee would feel “motivation” and “ease of work.”
With regard to motivation, it is necessary to provide to the employee an opportunity to actually experience a sense of achievement and growth about the job after having worked on it.
It is difficult to repeatedly do the same job every day with the same level of motivation, and it is necessary to elevate employees’ motivation by recognizing and praising employees at the workplace.
On the other hand, with regard to ease of work, granting paid leaves and reducing overtime do help, but the improvement of human relations and such also again greatly relate to ease of work.
We can expect improved employee satisfaction and better talent retention by improving such ease of work.
How was it? While there are also a lot of companies that provide the welfare benefits that employees seek, the times are always changing.
The style of the office changes as the times change, so it might be necessary for companies to change the way employees work from time to time in response to that.
The performance of employees might be maximized, leading to the growth of the company, by introducing comprehensive welfare benefits and establishing an environment that employees would find easy to work in.