Employee Benefits for the small but bold business
26th June 2017

Employee Benefits for the small but bold business

Is it possible to be profitable and efficient while creating a happy workplace that attracts and retains the best staff? The answer is yes. Aston Lark’s Small Schemes offering has an impressive history of providing small to medium sized enterprises with extensive coverage of the employee benefits commonly enjoyed by larger businesses.

Many small businesses are making an effort to bring in the type of employee benefits schemes that were once only available to the bigger players, and they’re doing it with little hassle and at a much lower cost than they first predicted.

For many businesses, implementing an employee benefits package is seen as an ambitious aim, but once in place they realise that it helps their bottom line; employees are happy therefore recruitment costs drop and their business continuity leads to stronger revenue growth.

So what makes a good scheme?

Firstly, you need to determine what your employees want and would appreciate. Consulting with your staff will help them to feel engaged and ensures that your business is only paying for the benefits that are going to be seen as beneficial to staff.

Some of the most popular benefits include:

  • Group Income Protection - Provides cover to employees who cannot work because of long-term illness or injury to reduce financial strain.
  • Group Critical Illness - Provide employees with a lump sum of money in the event that they are diagnosed with a serious illness or condition. This can be in addition to any group income protection they may have.
  • Group Life Assurance - A policy that is there to assist and provide comfort to an employee’s dependents during a difficult time.
  • Group Medical Insurance - Tailored cover to allow companies to provide their staff with access to specialist care to help them back to work faster.

Other simpler benefits a company can offer employees are:

  • Healthy breakfast options
  • Yoga classes
  • Comprehensive learning and development programme
  • Health and wellbeing propositions

Small businesses that are bold and bring in an employee benefit programme can quickly see the advantage this brings to their business. 

If you would like to take the next step to improve your business, feel free to get in contact with us on 0207 543 2818 or email employeebenefits@astonlarkeb.com.