Digitization, the pandemic, rising prices: The world of work is currently undergoing a fundamental transformation.
As a result, the demands and needs of working people are also changing. Companies face the constant challenge of attracting qualified employees and retaining them in the long term. One of the key factors for success is employee benefits.
Many HR professionals are aware that these benefits are not only a sign of appreciation, but also a key factor influencing employee satisfaction and retention.
While there are many employee benefits, which ones are really attractive to employees? We take a look at the ten most popular employee benefits and reveal why the mobility budget is the only democratic benefit.
In the corporate context, benefits are all voluntary company services that employers offer their employees in addition to their salary. Possible additional benefits range from insurance, childcare, education vouchers, health offers, to feel-good management.
These benefits aim to increase the attractiveness of the employer, employee satisfaction and thus their motivation and loyalty to the company. In order to be competitive on the labor market and interesting for applicants, various benefits have long been established in many companies.
The main aim is to build up an unmistakable employer brand that acts as a unique selling point compared with competing companies and thus gives them the edge they need to hold their own in the competitive labor market.
However, benefits are not only worthwhile for increasing employee satisfaction; companies can also benefit from them in terms of tax.
Under the non-monetary compensation scheme, companies can invest 600 euros per employee per year, i.e. 50 euros per month, in benefits free of income tax and thus save on costs compared with a salary increase. Such a benefit is also more worthwhile for employees than a comparable salary increase. Read more about taxes and benefits in kind in this article.
The aforementioned benefits are all good and useful supports in everyday work, but not all employees necessarily benefit from them equally. The mobility budget, on the other hand, stands out as a particularly democratic benefit. The question of how best to get to the office today and how to get home again is on most people's minds almost every day. In addition, everyone is also doing trips privately.
A mobility budget allows employees to choose from various mobility solutions such as public transport, rental bikes or bicycle leasing, car sharing or car subscriptions. This approach takes into account the different needs of employees and additionally promotes environmentally friendly means of transport. A mobility budget is an investment in employee satisfaction and helps create a sustainable, flexible work environment. For companies, a mobility budget helps serve as an attractive incentive to encourage employees to return to the office.
Overall, employee benefits are an important factor in attracting and retaining talent. While many benefits are attractive, the mobility budget offers a unique democratic dimension that takes into account employees' individual needs and preferences. Implementing a mobility budget can thus have a positive impact on corporate culture, employee retention and sustainability goals.
