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3 Incentives to Retain High-Performing Staff Members

Recruiting and retaining high-performing staff members is one of the many challenges modern business owners face today. With the sheer number of jobs up for grabs, offering better salaries and other attractive benefits – employers need to ensure that their highest-performing staff members enjoy their jobs should employers wish to keep them.

Various incentives exist for employers to keep their employees engaged that aren’t solely monetary inclined, such as outside training or days off, which will help make your employees feel more satisfied within their roles. We list a couple below to help employers keep high-performing staff members from moving to another organisation.

Salary Sacrifice Schemes

You can retain the top talent at your organisation by offering salary sacrifice schemes which involve employees trading in part of their pre-taxed annual salary in return for goods or services. Various salary sacrifices schemes exist in many companies, from increased pension contributions to gym memberships and childcare.

Salary sacrifice schemes are an attractive incentive for both employees and employers since the amount sacrificed from their salary is ordinarily pre-taxed, ultimately saving them money in the long run as their taxable income is lessened.

Recently, one salary sacrifice scheme prevalent within organisations is the salary sacrifice car scheme. The money from your chosen employee benefit goes towards a fully maintained vehicle. It also eases income tax and National Insurance expenses while giving employees access to new vehicles without the price tag plus additional benefits.

Providers such as Pink Salary Exchange offer salary sacrifice car schemes that benefit both employers and employees. For more insight, browse their website for a wide selection of new and used vehicles or contact a team member directly to see how their scheme could help you retain top talent today.

Ongoing Education

Another way that you can retain top talent at your organisation is by offering ongoing education and clear paths to advancement within the company. One of the leading causes that employees leave their jobs is because they feel unfulfilled within their current roles. Let’s face it, who wants to remain in a position that doesn’t challenge you and help you learn new skills?

There are various ongoing education options for employers to offer their employees, from online courses to in-person training. Whether the staff member in question would like to use their employee benefit to enhance their soft skills, learn a specific skill to get a better-paid position or recreational courses such as learning a new language.

Providing ongoing education and paths to advancement can help you retain employees and benefit the business as well. Since businesses are always in demand for new skill sets to fill new roles, failure to provide your employees with development opportunities limits the potential of the employee and the business.

Flexible Working Options

One way to retain your high-performing employees is by offering flexible working options. Flexible working options allow your employees to fit other obligations or commitments around work hours and help them make better use of their free time.

This, in turn, provides many benefits such as increased productivity, reduced chances of stress or burnout, promotes a healthy work-life balance and much more. Employers could consider introducing flexible working options by offering remote working opportunities, flexitime, job sharing and part-time work. Which will help positively impact your workforce and ultimately help you retain employees.

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