Major Cons of Not Offering Employee Benefits
If you are running a company that already offers some level of employee benefits, there is no doubt that you will probably already be well aware of the advantages that are naturally involved. At the same time, there are also a lot of negatives in not offering employee benefits that could well be having a detrimental impact on your organization and everything that it is trying to achieve. So, let’s examine just a few of the main cons involved in not offering employee benefits.
Higher Staff Turnover
Perhaps the most obvious side effect of not using employee benefits software or having an employee benefits package at all is that the staff turnover is much more likely to be higher than you would want it to be. This is largely down to the fact that members of staff are increasingly likely to move on to pastures new where there are more likely to be a host of different benefits readily on offer. The cost to a company of continual staff turnover can certainly end up being extremely high.
Increased Levels of Staff Absenteeism
Another one of the disadvantages involved in not offering employee benefits is that absenteeism is likely to end up being significant. This is down to the fact that members of staff could easily end up feeling like they are being burnt out. Not only this, but their health and well–being are simply not going to be made a priority. At the same time, if staff feel like they are not treated well, they have a lot less ‘skin in the game’,which can easily lead to them feeling like it is not important if they take more time off from work.
A Less Productive Workforce
Another one of the problems that you could easily end up experiencing if you are not offering proper employee benefits comes down to a workforce that is simply not as productive as they otherwise could have been. Ultimately, this is certainly going to be a problem, as you are not making the most out of your members of staff. Also, this general malaise can certainly start to impact your company as a whole in a significant manner.
Less Likely to Attract Talented Employees
Talented members of staff often certainly take the time to look closer at the companies that they may be working for and assess the full package of benefits that are on offer. If yours happen to be lacking for one reason or another, you are a lot less likely to attract these talented employees in the first place, and – as has already been mentioned earlier on in the blog post – it is going to be highly difficult to retain them either.
All these cons should make it clear to you that it is certainly important that you are doing more to look at the full package of employee benefits that you could be offering to keep this as strong as it possibly could be.