Successful companies focus on employee experience, which is built on trust and a positive work environment. This is impacted by the core elements of payroll, pensions, support, benefits and compliant business procedures. When you have consistency across the board in these areas, your staff will find their work more meaningful and be motivated to be more productive. As an employer, you will reap the benefits of an engaged workforce. To drive the future of your employee experience in the right direction, we’ve identified the main strategies to put in place.
Payroll has a direct impact on employee engagement. According to LinkedIn, approximately 1 in 4 employees (24%) will look for a new job after the first payroll mistake, while another 25% will seek new employment after the second issue. At Centralus, we make payroll a priority. Our services save time and money by providing accurate payroll promptly while managing tax obligations to avoid penalties. To minimise the pandemic’s impact, we’ve been working with clients to handle payroll administration, factoring in the furlough process, and keeping up-to-date on the laws surrounding it.
Tapping into more specialised expertise, especially around legal compliance issues, will go a long way in keeping your business safe. Many employers jeopardise their commercial existence by not protecting and treating their workers fairly. Equally, bending the rules can end up costing significant amounts of money. Sharpe Pritchard reported that a simple employment tribunal case fee costs an hourly rate of between £160 and £300 for a partner, and between £120 and £180 for a solicitor without VAT, requiring 20-60 hours of the hearing.
With so many businesses in the UK closing offices and requesting that employees work from home, taking a digital-first approach to employee benefits is essential. Our employee benefits consultants work with clients to identify the best solutions to help their business, including planning, administering and managing employee benefits packages through our online portal. Both employees and employers can access the portal through an app, from any device, anytime.
People who are healthy, both mentally and physically, are more productive. To further support employees’ mental health and emotional wellbeing during the pandemic, organisations have renewed focus on wellness services to tackle increased stress and anxiety. Centalus’s holistic benefits package takes into consideration employees overall emotional and mental health, including a confidential helpline and 24/7 access to a GP online or by phone.
For many employees, the economic reverberations of COVID-19 have raised the question: “what will become of my retirement savings?”
In fact, as stated in HR News UK, one in five UK employees (21%) admit to worrying about their financial health daily, while 34% of workers have concerns about funding their retirement. Employees seek reassurance from their employers with funds that are performing through their contributions and those of their employer.
When you achieve an enhanced employment experience, more time can be spent addressing key business challenges. You can significantly increase efficiency in the workplace when you integrate all of your services with Centralus, where payroll, employment law, pensions, benefits, and wellbeing are all covered in one modern platform. Help take care of your teams and take your business to the next level.