What Benefits Tell You About a Company’s Culture.

What a benefits package can tell you about a company’s culture.

In today’s competitive job market, employers are constantly looking for innovative ways of finding and retaining top talent. One way to do this is by offering comprehensive employee benefits packages that appeal to employees at all levels. From healthcare and retirement plans to tuition reimbursement and wellness programs, company benefits can tell you much more than just what perks you’d receive if you joined a particular business. Benefits can also provide valuable insights into the work culture at the company, and what the overall outlook of the business is when it comes to employee wellbeing.

The benefits a company offers don’t only indicate how much it values its employees, but also what they believe constitutes wellbeing to begin with. All of this points to values, which are central in understanding if a company’s culture is right for you.

What exactly should you be looking at?

For example, companies that offer generous private healthcare plans or access to fitness memberships show that they care about their employees’ physical well-being. Businesses that offer wellness programs which include physical wellbeing and mental health support show that they view employees’ overall health as a holistic issue. The conclusions you could draw from this is the culture of the business will be informed on and capable of providing support to employees if they, at some point, experience mental health or health difficulties.

It’s not only about wellbeing:

Another side of benefits you might want to have a close look at is how companies handle access to annual leave. Does everyone have the standard bank holidays off? Do you get to choose the days you want? Is there an increase to your leave based on the number of years you stay with a business?

This all might seem unimportant, after all leave is leave…or is it?

Each of these cases would point to considerations that business have taken when putting their benefits package together.

Floating bank holidays…

For example, floating bank holidays allow people from diverse backgrounds to shape their leave around the days that are culturally significant to them individually, rather than having to use personal days for those occasions and being obligated to take time on days that don’t have much meaning. This tells you something about the businesses’ stance on DEI.

For the ones that have been there a while.

Similarly, rewarding employees progressively throughout their years of service not only incentivises them to stay with their employer, but points to a culture where loyalty is highly valued, and employees can expect recognition throughout your career. It could also tell you something about a business’s focus on career development and progression.

And while we’re talking about recognition…

This 2022 study showed recognition was a main driver of retention and happiness. In fact, being recognised makes employees six times more likely to stay with their current employer. So how do you know if recognition is a part of the culture in a business?

Benefits such as quarterly and annual awards are a clear example of a well establish culture of recognition. But recognition can also look like a clear an transparent bonus or commission structure, or your colleagues having a culture of congratulation with each other.

The value of training.

Another big thing you should keep an eye on when looking through a company’s benefits package is what the training and development strategy looks like. Is there an incentive for you to learn new skills? Will further education you get be covered by the company or not? When continuous learning is central to your role, you want to know where the business you might be joining stands.

So, ask for that benefits brochure!

Ultimately, benefits aren’t simply a list of things that companies are obligated to give you. Benefits demonstrate the view that a business has about their employees’ wellbeing, development, and overall experience of work. They tell you about the culture and leadership styles you might encounter when joining a new team. You are always entitled to ask to have a look at a company’s benefits before making a decision, and you should be reading through it critically.

Written by Arantza Asali, Marketing Executive.

Click here to email Arantza, or click here to meet the rest of the team.

 

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