Employee benefits

Rising Trends: How Employee Benefits are Evolving

Employers offer attractive benefits to employees in order to attract and retain the right talent. Different companies offer different packages depending on the nature of the business they are in and the level the person is on, within the organisation. Employee benefits are offered in addition to the basic pay as an incentive to stay or improve performance. Whatever the case, they have become quite popular in modern organisations and they go beyond the standard medical insurance scheme, as a reflection of the changing nature of the workplace.

Studies indicate that employers are stepping up the kind of benefits offered to employees, and here are some of the most common benefits.

Entry Level Employee Benefits

Employees ate entry-level positions often get the basics because they need to prove their skills and at this point, the company invests in them so as to upskill them. Therefore, the benefits are not many. The most common ones include;

  1. Private Medical Care

Medical insurance

Most companies will give their employees private medical insurance covers, on top of the mandatory NHIF medical scheme offered by the government. What varies is the extent of the cover, with entry-level positions attracting basic cover but good enough for a rainy day.

  1. Pension

Pension allowance

This is not common amongst Kenyan companies but studies show that employers have started giving pension as an incentive to keep the best talent on board. It is a trend that is emerging as a way of keeping employees on board in the long term since studies indicate that modern employees do not stick with one employer for long.

  1. Flexi-Hours

Flexible working hours

In the internet age, and with modern employees looking for work-life balance, flexible hours are becoming increasingly attractive. This incentive is especially common in tech-based companies, where one can work from any location as well.

  1. Laptop and Mobile Phone Airtime

Phone airtime

Most companies will give you a laptop because that is your tool of the trade. However, mobile phone airtime is allocated depending on the nature of your job. If it involves making phone calls to clients, then it becomes parts of your benefits.

  1. Free Lunch

Free lunch offer

Traditionally, companies offer 10 o’clock tea. However, some companies have stepped up their benefits game to ensure that their employees have little to worry about. Some companies offer lunch to their employees to keep them comfortable. This may be on every day of the week or on selected days.

Mid-Career Level Benefits

As you go up the ladder, your benefits increase. At mid-level, you are accorded slightly more benefits as you have more to offer and as an incentive to keep you on board for as long as possible.

  1. Commuter/Car Fuel and Housing Allowances

Car allowance

At mid-career level, the company may offer you commuter and housing allowances to ensure that you do not have to worry about getting to work comfortably or about your rent. Some companies may give you a company car while others offer to give you mileage and house.

  1.  Car Loan

Car loan

At this point in your career, comfort and growth are major concerns so some companies will offer to give you a car loan at an affordable rate, as compared to what is offered by banks.

  1. Education Allowance

Education allowance

Career development is important at mid-career level. To help employees achieve this dream, companies now offer education allowance to help their employees pay for courses that will improve their skills. This may be in total or in part. In some cases, the company may let you rearrange your schedule to help you attend to your studies comfortably.

  1. Bonuses

Performance bonuses

Some companies will offer bonuses at all levels, based on performance. However, most companies use this as an incentive at mid-level as a way of encouraging employees to play an active role in implementing strategies and coming up with them as well.

Senior Management Benefits

At senior management levels, duties and responsibilities increase and so does the benefits that the position attracts. One is accorded all the benefits of previous roles at higher proportions and some more. Some of the other benefits include;

  1. Entertainment Allowance

Entertainment allowance

This may seem like a dream but it is a reality for people at senior levels of management. With all the responsibilities placed on them, it is only fair that companies facilitate their relaxation.

  1.  Gym Membership

Gym membership allowance

A good health is important and while a good medical cover is a great step towards this, senior executives are given gym membership to keep them both physically and mentally healthy and strong.

Employee benefits are now quite common, as a way of keeping the best talent on board and as a way of motivating employees to work harder and achieve more. The kind of benefits offered also vary, depending on the size of the organisation. These are just some of the benefits offered by companies for employees at different levels of the organisation.

What are some of the benefits that your company offers?

 

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