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We have all experienced it first-hand – we are living in an ear of economic stagnation and rising living costs. The global political landscape is in a state of flux, and the future is uncertain.

One good way to counteract the shortage of labour and skilled workers and to support your employees, especially in uncertain times, is to position yourself as an attractive employer. One underestimated yet important aspect is the additional benefits that you offer existing and future employees on top of their salary.

Herzberg’s two-factor theory

According to this theory, hygiene factors such as salary, working conditions, and leadership, etc. must be met in order for employees to be motivated. Therefore, an employee benefit can only be an added bonus to a fair salary and good working conditions. In economically difficult times, the focus should therefore be on supporting employees.

It should be borne in mind that up to four generations may now be working in a company, each with different needs. As well as basic pay, the choice of employee benefits certainly plays a major role: younger employees may company events or time off, such as sabbaticals or workations, while older generations may value health management or pension provision more highly. Of course, this depends on your current life and future goals.

I have written down my four recommendations for you. Firstly „I believe benefits should be important and well thought out“:

Increased employee retention and motivation

Well-considered benefits are crucial in making employees feel valued. This can also help to build a closer bond with the company.

Satisfied employees are more motivated and less likely to leave. This reduces staff turnover and saves on the long-term costs of recruiting and training new employees.

Promoting work-life balance

Offering benefits such as flexible working hours, the option to work from home or childcare support helps employees achieve a healthy work-life-balance. A better work-life balance increases productivity and reduces stress levels. It also increases efficiency, boosts satisfaction and improves personal well-being.

Improving the employer brand

Companies that offer attractive and innovative benefits stand out from the competition. In a highly competitive job market, it is crucial to position yourself as an attractive employer. Benefits can be a powerful unique selling point and helping to attract and retain talented professionals.

Promoting diversity and inclusion

Well-designed benefits can help to ensure that the different needs of all employees are met. Offers such as parental leave for both genders, support for the integration of international professionals and programmes to promote mental health can create a more inclusive working environment in where all employees feel equally valued and supported.

All of this sound good in theory. I think it’s even more important that employees have more money in their pockets at the end of the day. However, since we cannot increase salaries indefinitely, we need alternatives to support employees financially.

Did you know?

In Austria, it is possible to give tax-free gifts to employees (e.g. Christmas gifts or gift vouchers). Benefits in kind for employees are exempt from both income tax and social security contributions up to an amount of €186 per year. Since most of us already have countless towels, glasses and other company Christmas gifts gathering dust at home, I would like to suggest the following option, which I believe is a clever way of supporting employees financially:

The Pluxee gift card:

• can be recharged by the employer
• can be redeemed at more than 25,000 participating partners in Austria
• can be provided to employees by the company tax-free
• can also be personalised with nice greetings for special occasions (Merry Christmas, work anniversary)

I’ve tried it myself and found that redeeming it is really easy! You can even do it via your mobile wallet, just like with your own debit card. You can use it in high street fashion shops or to buy office supplies or for gifts, for example. The card is also accepted in various grocery stores and restaurants – it’s really universally applicable! You can see exactly what I did in my video, which accompanies my shopping trip.