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What’s In Store For Employee Benefits In 2024?

At the beginning of 2023, Monster reported that 96% of UK workers were seeking new employment. As the working landscape shifts, and employees seek better opportunities, it’s never been more important to focus on your rewards and benefits.
employee benefits in 2024

As we approach 2024, the dynamic of the workplace is undergoing a significant shift. A change in attitude following the COVID pandemic has seen employees place significant importance on their work-life balance. And now, as organisations grapple with the post-pandemic era, an emphasis on employee wellbeing has become a cornerstone of corporate strategy. 

At Oasis Coffee & Vending, we know how important it is to provide a plethora of rewards that keep your employees both engaged and satisfied. To learn more about the future of employee benefits in 2024, read on.

colleagues working at desk smiling

Why Are The Right Employee Benefits In 2024 Important?

Employee benefits are more than just perks; they’re a strategic investment in the success of your organisation. In an era where 55% of employers find attracting and retaining talent harder than ever, a robust employee benefits package can be a game-changer. 

Imagine a scenario where workers feel genuinely cared for by their employers. This sense of appreciation translates into increased motivation, higher productivity and positive work culture. On the other hand, a scenario devoid of such employer concern can result in diminished morale and reduced productivity. 

When your employees feel valued and supported, the ripple effect can foster a harmonious workplace that benefits both the individuals and the organisation as a whole. 

 

work from home with pet

The Most Important Employee Benefits In 2024 

Benefits are often the key to happiness in the workplace. And when your staff are happy, they’re 38% more productive than those who aren’t. In the modern workplace, a competitive salary is no longer enough to discourage your employees from looking elsewhere. Instead, your perks must be aligned with their individual needs and interests. 

Here’s our forecast for the most popular employee benefits in 2024.

 

Flexible Working

In the age of digitisation and mobile-first communication, the concept of a fixed 9-5 schedule has become obsolete. Instead, as flexible working shifts from a niche to one of the most sought after employee benefits, remote and hybrid patterns will become an expectation of your workforce. 

This seismic shift isn’t just about where work gets done – but how and when. For employees, varied work hours, compressed workweeks and alternative workspaces are key for an impactful work-life balance. With a reduced commute time, savings on transportation and a choice of working space, workers have found a renewed sense of autonomy, allowing them the freedom to work when they are most productive. 

In 2022, the CIPD found that 4 million employees changed their careers due to a lack of flexibility at work. Should this benefit fail to meet the evolving needs of the workplace, your organisation may find itself grappling with reduced employee satisfaction and talent retention challenges.

 

laughing on phone whilst working at desk

 

Holistic Health & Wellbeing 

Holistic health and wellbeing is set to be another popular employee benefit in 2024. As Gen Z makes their mark in the workplace, there will be a growing emphasis on fostering a work environment that not only supports professional growth – but the mental and physical health of employees too. 

However, it isn’t just Gen Z that has called for the shift in focus. Millennials have also witnessed the adverse effects of burnout on older generations, and are determined to seek roles that prioritise their health and wellbeing from the word ‘go’. 

Beyond a subsidised gym membership, your organisation could provide private health insurance – especially amid the strain on the NHS. Likewise, providing counselling and resources for mental health will demonstrate your commitment to the overall wellbeing of your colleagues.

 

Work-Life Balance 

In 2024, the importance of a work-life balance is set to take centre stage as a pivotal aspect of employee wellbeing. As our professional and personal lives continue to intertwine, the workforce is placing an increased emphasis on balancing the two. So much so that two-thirds of UK workers would accept a pay cut if it meant a better work-life balance.

Some employers have already adopted ‘no work after hours’ policies, flexible leave and ‘no meetings on Fridays’. However, others still have a long journey ahead if they’re looking to succeed in satisfying their workforce.

 

lunch at work

 

Subsidised Refreshments 

Finally as the cost of living continues to skyrocket, more employees will expect high-quality refreshments to form a part of their overall compensation. Removing the need to purchase costly sandwiches or unhealthy convenience foods on the go, subsidised food and drink can offer a practical solution to the increased cost of daily sustenance. 

At Oasis Coffee & Vending, we recognise the demand for premium refreshment solutions that align with the evolving expectations of your employees. Whether you require a dairy-free coffee machine or a self-serve micro-market, we can help you find your perfect fit.

employee benefits in 2024

How Can Oasis Coffee & Vending Support Your Employee Benefits In 2024?

A long road lies ahead for employers seeking to meet the evolving needs of their workforce. But this isn’t a journey you’re expected to navigate alone. At Oasis Coffee & Vending, our diverse range of refreshment solutions can help you adopt a rewards and benefits programme that exceeds the expectations of your staff. 

To learn more about our coffee and vending machines for the workplace, contact our team today. 

November 22, 2023

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