Businesses are risking serious staffing issues by not moving with the times when it comes to rewarding and motivating their people, according to a Blackpool based adviser.
Andrew Selby, an employee rewards specialist at Moore and Smalley, says businesses need to view employee benefits as a way to engage with staff, rather than thinking of them solely as a financial reward.
And he believes firms should also be tailoring employee benefits packages to reflect their organisation and workforce, rather than making do with what they’ve done before or what competitors do.
He said: “The conventional approach is to pay people a salary and offer a pension. But many staff these days want flexibility in their working hours and benefits that reflect their lifestyle.
"Much of this depends on age and what stage of life they are at. Staff benefits need to be seen not necessarily as a financial reward, but a way of standing out from the crowd and a way to genuinely engage with employees.
"Retaining older workers with their lifetime of training and on-the-job experience is going to become increasingly more important to employers.”