We have seen a real shift in what benefits are being offered by employers. To gain access to the top tier of talent, employers have had to reposition their benefits package and really consider what is truly valued by their employees. This extends further from traditional ‘benefits’ to encompass growth opportunities and activities to keep employees connected to the organisation and wider community. And it’s no accident that these are the employers who are retaining staff and growing their team, rather than always looking for replacements.
The biggest change we have identified in this space is the understanding from employers that benefits don’t mean the same thing for all, and embracing flexibility to ensure a package is bespoke to individual needs.
Emerging benefits:
• Wellness Benefits; including allowances and wellness days
• Professional Development – training opportunities
• Additional Parental Leave for both parents
• Additional Annual Leave
• Mental Health allowances
Benefits considered standard in a package:
• Work from home flexibility
• Community days
• Birthday off
• Discretionary bonuses
• Christmas bonus/vouchers
• Health insurance - partial or full cover, access for family members too
• Paid accreditations and memberships - RICS, NZIOB, NZ Property Council, Keystone Trust
• Daily breakfast, fruit, lunches
• Employee referral programme (approx. $2,000 - $5,000)
Businesses are testing what benefits are valued and getting feedback from their teams on how best to care for their staff, adjusting and revising to ensure benefits on offer are truly reflective of the needs of their team. We are seeing employers putting a renewed focus on company culture after the erosion caused by the work from home during the pandemic, and we anticipate the most successful employers will be those that continue to evolve their packages to meet the needs of their team.
If you are looking for a new opportunity with an employer offering great benefits or would like some advice on how to better structure your benefits package, get in touch with the Assemble team.