How employee benefits drive happiness and productivity

Wellbeing (noun) Definition: A good or satisfactory condition of existence; a state characterised by health, happiness, and prosperity.

We know that employee happiness and wellbeing are directly linked to the benefits they receive. Employees who feel valued and happy at work are more productive and effective in their roles. Additionally, organisations that provide appropriate benefits to support employee wellbeing are more likely to foster engaged and high-performing teams.

In today’s fast-paced, competitive corporate world, prioritising employee wellbeing is no longer a perk, BUT A NECESSITY.

But why does employee wellbeing matter?

Employee wellbeing goes beyond physical health, it also includes mental, emotional, and financial wellness. Employers who invest in the wellbeing of their workforce not only meet their Duty of Care obligations, but also create a positive workplace culture. This results in higher retention levels and enhanced productivity.

According to research by Zest, eight in ten (82%) businesses have seen their employees demanding more wellbeing benefits, with 56% of employees saying that they would leave their job if another company offered them a better benefits package.

The 2024 Gallup research also recognises the need for benefits packages to address unprecedented employee stress levels, with 43% of global employees feeling stressed at work daily.

This causes burnout, decreased engagement, and higher absenteeism, highlighting how great wellbeing and benefits are not just good for employees; they are good for business.

Tangible benefits, especially those with high (perceived) value, can significantly boost employee morale and fulfilment. A brand-new car, for example, is more than just a mode of transport, it’s a symbol of appreciation, recognition and support from an employer.

Tusker’s car benefit schemes not only signify support and recognition to employees, elevating job satisfaction and motivation by up to 45%, but they also host several other perks that boost workplace wellbeing and engagement levels.

One benefit of the scheme to employee wellbeing is financial peace of mind. Employees don’t need to worry about car loans, credit checks or deposits. A fixed monthly reduction from their salary covers it all- insurance, tyres, VED, servicing, and even breakdown cover.

Additionally, sustainable benefits have become vital to the wellbeing of a large proportion of employees in recent years, particularly Gen Z and Millennials. When it comes to sustainability, zest have found that:

• 53% of employees would like to see their company investing more in sustainable benefits (such as electric vehicles and sustainable pensions). This rises to 66% for 18-34 year olds and 63% in London.
• 36% say such sustainable benefits are now the most important benefits to them, rising to 50% for 18-34 year olds.
• Just 29% of employees think their company’s benefits platform supports their individual needs and preferences as they seek a more sustainable future.

Offering environmentally conscious benefits, like EV schemes, helps promote a sustainable culture that aligns with employee’s values. As an added benefit, it also supports corporate social responsibility (CSR) goals.

Employers who’ve implemented Tusker’s car benefit schemes have seen the monumental impact this benefit has had on their employee wellbeing.

Niall Silvestro, Travel and Benefits Officer at Aberdeenshire Council:
“I think the biggest [reason] for us [to offer the scheme] is it’s providing access to employees brand new vehicles essentially. They’re safe, they’re reliable. We feel it helps us meet our duty of care obligations, but it also has a kind of positive impact in [the employee’s] work / life balance too. So that’s really an important factor for us in providing this scheme.”

Liane Richardson, HR Director, Thakeham:

“One employee was struggling financially and came to us to ask for a loan. They were having problems with their car and thought they could never afford a new car. But when we showed them how the salary sacrifice scheme worked — with no upfront fees and a fixed monthly cost covering everything — they realised they could absolutely afford it and having a reliable car took a massive worry off their plate.”

“Some people are on to their second vehicles now, which shows that they’re happy with how it’s working,” Liane says. “It’s a good sign when people are willing to renew.”

To find out how you can add Tusker to your flexible employee benefits technology, visit their page on Zest Marketplace here.