Smartree: More than 75 pc of large companies offer benefits to their employees

The benefits are a solid tool for motivating employees, stimulating performance and preserving their loyalty in the long run.

According to Smartree, important player in Romania on the HR outsourcing market, the benefits provided by Romanian employers have become increasingly varied and creative as a way to retain employees and make them more loyal.

If until recently only meal vouchers or transportation discounts were included in the bonuses packages, employers now offer a much more complex system from this point of view: gift vouchers, medical subscriptions, SPA & sports subscriptions, paid travels, relaxation rooms, fruits at the office. They also offer employees the possibility to work from home or the option to purchase products and services at discounted prices.

“Implemented in a coherent, correct and transparent manner and taking into account market trends and company resources, this bonusing system can lead to an increased retention of employees,” Raluca Penes, HR Coordinator Smartree stated.

Smartree statistics show the average value of company benefits in 2017 was 11 percent higher than in the previous year, with a 25 percent increase in December 2017 as compared to December 2016. The year-on-year increase was triggered by the implementation of bonus programs by companies that quickly adapted to market requirements in orrder to increase the loyalty of their employees, but also with the objective of attracting other candidates.

In 2017, 79 percent of the Smartree customers offered various benefits to employees, 4 percent more compared previous year, while 8 percent of them provided benefits in a differentiated way, depending on the policy of each entity in the group. A percentage of 13 percent of Smartree customers did not offer benefits to their employees last year.

According to HR Coordinator Smartree, there are also multinational companies that have already announced their decision to enter the Romanian market in 2018, which will force current employers to continuously maintain and adapt these benefit systems to motivate existing employees, but also to attract new potential candidates.

For 2018, company representatives estimate a 10 percent increase in average earnings for employees, amid an increasingly dynamic labor market. Also, employers will look for unconventional methods to increase loyalty inside teams, focusing on non-financial options of the benefit package.