Sat, 20 Aug 2022

5 Social Benefits Most Valued By Employees

20 Dec 2021, 22:24 GMT+10

Sure you've heard of social benefits, but do you really know what they are? Social benefits are special solutions and services with advantageous conditions offered by companies to their employees, beyond salary.Companies that incorporate social benefits to their employees have a series of advantages, such as employee benefits platform, for example, the ability to increase the degree of satisfaction and motivation of workers, the ability to attract and retain talent and they can also benefit themselves, obtaining a greater liquidity, due to its tax advantages.

What the Role of Implementation?

If you are reading this and you are a company, you should know that employees who feel comfortable in their job are more productive. If you consider how to add extra motivation to your employees and build an optimal environment in the work environment, you must be very attentive and consider the social benefits that most interest employees to apply them in your company.

Flexible remuneration allows the worker himself to maximize his salary and consequently his purchasing power. Implementing a flexible compensation plan in a company is easy if a communication and request collection system is established first.

In this way, companies will be able to offer the offer of social benefits appropriate to the needs of the workers and will be well accepted by them. At the beginning it is normal that you do not know well how to implant it, but the operation is very simple and you learn quickly. The Human Resources department is the one that works under the greatest pressure to retain the different segments of employees, since each one has a mix of needs, expectations and lifestyles.

The 5 Social Benefits Most Valued By Employees

There are a wide variety of benefits, but there are 5 in particular that employees value the most. From Zest we detail them below:

1. Gourmet Check

The gourmet check is one of the social benefits most valued by employees. It is also one of the most widespread as it represents a significant economic advantage for companies and employees. For companies, this service is 100% deductible from Corporation Tax. For employees, the gourmet check is exempt from personal income tax up to € 11 per working day, which represents an annual saving of about € 600. This social benefit can be implemented by any company, starting with one employee, without a minimum amount, achieving an increase in the commitment of its workers and their productivity.

2. Transportation Check

The transport check card is being offered due to its great utility and convenience for the employee, it is prepaid and can be used to acquire collective public transport tickets for passengers (bus, tram, train and metro) valid, in order to pay for the journeys between residence and place of work, in a very simple way and at a price lower than the official rates.

For companies, this service is 100% deductible from Corporation Tax. For employees, the Up Transport Check is exempt from personal income tax up to a maximum amount of € 136.36 x 11 months = € 1500 per worker per year. Like the gourmet check, this social benefit can be implemented in any company, starting with one employee and with no minimum amount. In addition, with the transport check you will also be taking care of the environment.

3. Nursery Check

The nursery check basically consists of the payment of the nursery by the company. In Zest employee benefits platform it is the greatest social benefit that companies can offer working parents with children in the first cycle of early childhood education, that is, from 0 to 3 years old, since it allows those employees to obtain a tax saving of up to 3 monthly payments a year in the payment of your early childhood education Center. For companies, this service is 100% deductible from Corporation Tax.

For employees, the daycare check is fully exempt from personal income tax. At Zest we are committed to promoting the reconciliation of family and work life, thanks to the implementation of this social benefit, thus achieving employee satisfaction.

4. Health Insurance

The health insurance social benefit is highly valued by employees. More and more companies offer health insurance to their workers as a social benefit added to their salary. Workers can benefit from advantages such as avoiding waiting lists, better balancing their personal and work life, they can choose between various medical professionals, etc. The companies will pay a single receipt that can be deducted in the Corporation Tax without taking into account an increase in the contributions to the social security account.

5. Bonus Training

Subsidized training is increasingly valued as a social benefit by employees. Companies invest their contributions to improve the qualification of their workers through subsidized courses linked to the job. The opportunities that arise with this benefit are the increase in productivity and competitiveness, the improvement of the qualification of workers, facilitating adaptation to market changes, etc. It is good for professional growth and motivation of workers and also for companies as they attract talent.

These 5 social benefits are preferred by employees, but there are many others such as, for example, pension plans, life insurance, etc. The important thing is that as a company you know how to identify the needs of your workers and implement benefits that may be important to them. In order for workers to know the social benefits, the company itself must carry out constant communication campaigns to keep them informed.

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