3 fringe benefits to improve employee satisfaction
Employee training
Training is seen as a non-negotiable benefit by both candidates and employees. According to a 2022 CapGemini study, 65% of employees say that skills development is the most important aspect of their job. But only 28% say their job allows them to learn and develop their skills.
By offering training opportunities, companies show that they are :
- Listening to their employees’ expectations.
- Invested in their career development.
This will result in better employee motivation and satisfaction, as well as greater loyalty in the long term.
In addition, training will ensure that employees' skills are adapted to today’s job’s requirements. They will then be more efficient, guaranteeing better results.
Development opportunities
Investment in training leads to internal development opportunities. According to the same CapGemini report, companies need to think about their "employer promise", which will include and detail internal development opportunities.
This will provide additional job security, which will be experienced as an additional reason to stay with the company. Employers who offer these opportunities demonstrate their commitment to their employees and their development. This will promote employee satisfaction, and therefore retention.
Flexibility
Flexible working hours is one of the most popular fringe benefits in Switzerland. JobCloud reveals that 84% of employees would like to have flexible working hours, at least partially. A third of them would like complete flexibility over their timetable. By giving them more autonomy in managing their time, they will be able to improve their work-life balance. This can lead to greater motivation, better quality of work and higher employee satisfaction.
Furthermore, with the rise of remote working, flexibility is being reflected in where people work. According to another JobCloud survey, 50% of employees said they wanted to work from home 2 to 3 days a week. And, 20% would like to have complete flexibility in their choice of workplace. Hybrid working is therefore becoming one of the major fringe benefits for attracting and retaining the best talent in Switzerland.
Offering remote working opportunities to employees will:
- Meet these expectations.
- Save them time and money on commuting.
- Better reconcile their professional and private lives, while improving their productivity.
This is therefore another aspect of flexibility to be considered as a fringe benefit to boost employee satisfaction.
In summary
Fringe benefits are crucial aspects of employee retention, directly influencing job satisfaction and motivation. Companies need to take into account their employees’ and candidates’ salary and benefits expectations to ensure optimal talent retention.
HR teams need to think about employee development opportunities in relation to the needs of the business. They also need to define their 'employer promise' in relation to internal career progression and flexibility.
By offering these fringe benefits, Swiss employers can not only improve employee satisfaction, but also retain employees over the long term. This will help to:
- Reduce the costs associated with turnover in the long term.
- Strengthen the company's reputation as an attractive and reliable employer.
- Boost employees' sense of belonging.
It is essential for employers to understand that employee benefits are not an expense, but an investment in the development of their business.
