The employee benefits your company offers could be the reason a candidate chooses your company over another within the Life Sciences industry or vice versa, so it’s important to continuously review your benefits to keep up with your competition and the needs of your employees.
2020 saw a huge shift in the way we work, and this has undoubtedly changed the priorities that candidates have when it comes to choosing their employer. In this article, we look at some of the employee benefits that are most important to employees in 2021…
Now that most employees have proved that they can do their jobs from home, professionals are not only wanting – but also expecting – to see flexible and remote working options offered by employers.
Pharmaceutical companies such as Takeda, Eli Lilly and Bayer have already laid out their plans for a more flexible working culture post-pandemic, with both larger and smaller companies in the industry also following suit. Don’t get left behind!
Company Health Insurance Schemes
2020 left the NHS under a huge amount of strain, resulting in waiting lists that are longer than they have been in years. More than ever, employees are looking for ways to bypass these waiting lists and access treatments at times when they need it the most.
When it comes to choosing a company health insurance scheme, there are lots of different plans to choose from that can be tailored to meet the needs and size of your company. You can compare company health insurance quotes here.
Employee Assistance Programmes (EAPs)
These programmes help employees with both personal and work issues that may impact their performance and can cover both physical and mental wellbeing. Some of the most common areas they cover include:
- Financial assistance
- Mental health
- Physical health
- Work issues
- Legal advice
EAPs may come in the form of helplines, workshops and access to private/remote services and aim to reduce stress and absenteeism, therefore increasing productivity, morale, and the retention of top talent. Companies such as AstraZeneca are already taking a holistic approach to workforce wellbeing and safety, with schemes that aim to ensure that employees have the resources to deal with, and thrive in, challenging circumstances.
Other Health and Wellbeing Benefits
Similarly, candidates are also looking for companies that offer discounts for things such as eye care and healthcare, as well as subsidised gym memberships (or even an onsite gym!). Investing in your employees’ health and wellbeing – both whilst at home and at work – is a really effective way of retaining your talent by helping to maintain a positive company culture.
Pharmaceutical companies such as UCB are already showing their commitment to employee wellbeing. UCB have an Employee Wellbeing Strategy in the UK which they feel helps them to “create and sustain a working environment and culture in which people are happy, healthy, safe and enabled to thrive” improving their productivity whilst also sustaining a positive environment.
Good Pension Plans
Whilst having a pension plan is compulsory in the UK, having a really good scheme in place for your employees will help in not only attracting top talent to your company, but retaining it too.
Having a unique scheme can really help you stand out, as pharmaceutical company Roche proves with its ‘Today for Tomorrow’ company pension scheme, aiming to help employees “look forward to a carefree future.” You can find details of this scheme here.
Make Your Company Culture Shine…
Remember that your company culture can really help to set you apart from your competitors within the Life Sciences industry, and the benefits you offer your employees can play a huge role in this. Remember to continuously review the needs of your current employees, and stay up-to-date with what companies across the industry are offering candidates to see how you can best meet their current needs.
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