Demand for Workplace Benefits
As the cost-of-living crisis deepens, new research has revealed that employees are relying on their employers to offer support in the form of robust workplace benefits to help them navigate ongoing economic uncertainty.
Health insurance, flexible working, and pensions are considered to be the most valuable, followed closely by employee discounts and free lunches, highlighting that the UK’s workforce is looking for ways they can reduce personal expenditure where possible.
The research found that health insurance ranked in the top three most sought-after benefits for 39% of employees. This was behind flexible working (53%) and the company pension scheme (46%). The other core benefits employees prioritized were employee discounts and free lunches. This shows that with the cost-of-living crisis, people are relying on their employers to support them in navigating economic uncertainty.
As the war for talent continues, benefits play a significant role in employee attraction and retention. 42% of employees said they would be more likely to stay in their current role if it offered good health and well-being benefits.
If you are considering improving your employee benefits programme consider having conversations between you and your employees. Give them a choice to have a voice, engage in the conversation and find out what will truly make a difference to their wellbeing. If you can find a way to give it to them, you’ll have a happier workforce.
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Confronting Poor Performance
Whether you are a manager or an employee, annual performance reviews can be gruesome. It may be a little daunting, but these reviews are essential for any business, and they can empower or de-empower your employees.
What’s a performance review?
A performance review formally examines the employee’s job performance over a certain period. It’s importance is emphasized due to the fact that only 50/5 of employees know exactly what their superiors expect from them.
During the process, managers asses an employee’s entire performance, including their strengths and flaws. At this point, the supervisor can give constructive feedback and help workers set new goals.
Qualities of a successful performance review
These three qualities make any performance review effective and successful for managers and employees.
1. Achievement-oriented
Performance evaluations are far too frequently perceived as punishing rather than helpful, which demotivates workers. The best bosses praise their workers for their accomplishments and show them where they might grow in the future. Successful progress reviews should provide an opportunity for discussion about achievements as well as opportunities for critique.
Managers should communicate what they are supposed to achieve and address potential methods workers can use to operate at their peak performance.
2. Accurate and free of bias
Regular reviews allow workers to respond to what is said in the review instantly. Aside from that, they are more inclined to depict performance accurately.
Supervisors can conduct progress reviews frequently e.g every six months.
3 things workers should do during a performance review
Instead of worrying and waiting their turn to defend work achievements and failures, here are some of the things that they can do to prepare themselves during a performance review.
1. Create Notes: before each performance evaluation, workers should take notes on the discussion topics, objectives, strengths and flaws.
2. Self- evaluate workers should simulate a performance review for themselves to learn self- evaluation. They need to sit down in groups per department and analyze accomplishments, ambitions, shortcomings, and strengths.
3. Bring questions: in performance assessments, workers should be able to ask questions about certain parts that might be unclear to them. It might help to guarantee that all necessary questions are answered if they prepare their inquiries in advance.
