The intangible benefits
Financial rewards are easy to quantify. They usually arrive in pay-packets or additional bonuses and their benefit can be felt immediately, thanks to a rising bank balance.
But what about the less obvious relational or non-financial rewards? For some, rewards that relate to training or a clean working environment aren’t always immediately recognisable, nor tangible. However, businesses can relatively easily calculate the per-employee value of such activities and corporate aspects by simply taking the training or facilities budget and dividing it by the number of staff.
This fascinating exercise provides business with an invaluable tool that can help employees realise what their total reward from the company is.
It’s worth bearing in mind that every business is different, and some organisations may not want to include elements like a clean office as a benefit. That’s absolutely understandable, as is the fact that some businesses may wish to include additional benefits alongside those that are relational.
Tracking the 14 standard benefits
In Natural HR, you can track fourteen of the most common benefits. We refer to these as the ‘standard benefits’, and there’s a strong chance your business will offer at least one of them for its employees.
What’s more, Natural HR can track these benefits and enables users to add custom benefits to begin tracking those that are most important to the organisation in question.
The standard benefits included in Natural HR are as follows:
- Medical insurance
- Dental insurance
- Life assurance
- Health insurance
- Critical illness
- Employee assistance
- Company car
- Car allowance
- Fuel card
- Mobile phone