Employee benefit guide

What are employee benefits?

Employee benefits are non-wage compensation that supplement an employee’s salary and can include everything from private health insurance and critical life cover to mobile phone or gadget insurance and gym allowances. Some benefits will be taxable so you’ll need to check with your finance team what applies in your case.

Why do they matter?

It might be tempting to offer the bare minimum to your employees if you’re a small business. After all, you’ve got costs to keep down and wages to pay!

Not offering benefits means less costs in the short term for your business but long term, you could be hindering rather than helping your growth. By offering decent employee benefits you will attract talented staff and help retain those staff you do have. You’ll also build an attractive employer brand and create a perception of a strong, caring and invested employer.

You can learn more in our guide.