How your employee benefits can make or break staff retention.

Employee benefits matter in the workplace but the type of benefits required has now changed in line with the post-Covid world we’re now living in.

Employees have fresh demands, and they aren’t afraid to seek employment elsewhere if these demands aren’t met. Here are some key stats surrounding employee benefits and how they can make or break staff retention.

The link between employee benefits and staff retention.

To avoid turnover and retain your best talent, you need to invest in meaningful benefits that your employees will value.

We spend such a long time in the workplace, as much as eight or nine hours a day. It is impossible to expect your team to be productive if they are not happy in their role. And after the last few years, safety, hygiene, and wellness are also aspects that will make or break happiness at work.

You need to drive a workplace that employees look forward to coming into every morning. This starts with reviewing the type of culture that exists within your business.

Here are some important stats that ought to make you pro-active in building a stronger company culture and better working environment to improve retention.

• 49% of employees aren’t happy with their benefits.
• 78% of employees say they’re more likely to stay with an employer if they are satisfied with the benefits.
• 51% of employers say that using benefits to retain staff will grow in importance over the next 5 years.
• Over 40% of workers said they would be more loyal to a company if the available benefits were tailored to suit demand.
• It costs a lot more to employ someone new than it does to retain an existing member of staff.

How the Micro Market can improve staff retention.

The Micro Market is a fantastic employee perk that can help improve staff retention, with a self-service refreshment hub that is tailored to each individual workplace.

Being a division of the successful vending machine company Coinadrink Limited, we know that refreshments are a key part of an employees’ working day. They encourage time out, either alone or with colleagues, and enable us to recharge our batteries and improve overall wellness before we get back to work.

The Micro Market is well positioned for the modern world, with 24/7 availability providing unrivalled flexibility for shift patterns. Fresh food, snacks and hot and cold drinks are available in an open design that’s fondly reminiscent of your local corner shop, with around the clock CCTV.

It can also conform to modern day trends with fresh bean coffee and healthier products.

In addition to being a personal refreshment hub, the Micro Market can be central to a personalised breakout area that really prioritises employee wellness. Only recently did we revamp a location for a local customer, equipped with hydration stations, comfy seating and more.

The Micro Market is the modern-day alternative to contract catering or a staff canteen, allowing staff to get what they want whenever they want in a safe, hygienic, and enticing manner.

It can work for almost all businesses, from 20 staff to hundreds of staff. We design, create, and manage the Micro Market for you, so no two markets ever look or function the same.

Refreshments have been used as an employee perk for decades and the Micro Market takes it to the next level for 2022. Contact us to see how it can improve staff retention.