Business owners – here are the staff benefits that could boost productivity

Posted on

As a business owner, how can you boost productivity? Reviewing processes to improve efficiency or implementing more training may spring to mind. However, providing health and wellbeing benefits to your employees can prove valuable.

Three in five (60%) small and medium-sized enterprises (SMEs) acknowledged that providing health and wellbeing benefits has a high impact on the productivity of their company, according to research from the Association of British Insurers. A fifth (22%) went as far as to say that health and wellbeing benefits are critical for ensuring high productivity.

Health and wellbeing benefits can help your employees feel like valued members of the team. There is a range of other ways benefit packages can improve business, from fewer sick days taken to employees becoming brand ambassadors for your business. A competitive benefits package can also improve your company’s reputation and lead to job adverts attracting applications from talented prospects.

Making wellbeing a core part of your business can improve the lives of your staff and benefit the firm. A health and wellness programme should bring together several benefits that aim to make your staff feel appreciated and secure. Whether you’re starting from scratch, or want to add to an existing package, here are some ideas that could enhance your employees’ experience.

Flexible working options

With millions of workers leaving the office in 2020 to work from home due to Covid-19, flexible working options are becoming more common. This may include the option to work from home or change working hours. This flexibility can help employees strike a work-life balance that suits them.

A 2020 Gallup report found that 76% of employees experience burnout at least some of the time. These employees are 63% more likely to take a sick day and burnout was linked to increased working hours. Stressed employees are likely to be less productive, so allowing them to create a positive work-life balance can help.

Office perks

If you’re looking for a low-cost way to boost morale and wellbeing, office perks are a great place to start. It can be as simple as having fruit snacks for employees to enjoy throughout the day. Or having breakout areas where staff can relax gives them a place to step back from stressful projects if needed, as well as providing an opportunity for team building and creative thinking.

While many offices have closed over the last year, and may not reopen in the same way again, office-style perks are just as important when working remotely. Online recognition programmes or the occasional treat to an employee’s door can improve wellbeing and let them know they’re valued.

Enhanced sick pay

Financial insecurity and money worries can place a huge amount of pressure on individuals. Providing a safety net for your members of staff can ease concerns and allow them to focus on work. According to an Aegon report, four in ten people have less than £100 to spend at the end of the month. Money concerns don’t just affect low-income workers. One in three top earners said they worry about money too.

Supplementing the Statutory Sick Pay as part of your benefits package can help give your employees confidence in their future. This may be their full salary or a portion of it for a set period so they can continue to meet essential outgoings if they’re unable to work.

You may also want to consider group income protection or group critical illness cover. These insurance policies can provide employees with financial security when they need it most by providing either an ongoing income or lump sum. If you’d like to discuss insurance for your business’s employees, please contact us. We’ll help you understand what the options are, how they’d benefit your employees, and secure a deal that’s right for you.

Health insurance

Thanks to the NHS, health insurance isn’t essential in the UK, but it can be a valuable perk that your employees really appreciate. It can mean they’re able to get faster appointments with a health professional, reducing worry, improving health, and potentially cutting the amount of time that an employee needs to take off work.

There is a range of providers in the UK, offering various levels of cover. For example, some health insurance policies may include physiotherapy or mental health support when needed.

Pension contributions

Under auto-enrolment, you’re likely already contributing to employees’ pensions on their behalf. If you’re making the minimum contribution, you may want to consider increasing it. This could be in line with your employees’ own contributions up to a certain percentage, encouraging them to save more for their future too. Engaging staff about their pension can show you’re thinking about their long-term wellbeing.

As well as increased pension contributions, providing retirement advice can be hugely beneficial. It can help employees understand whether they’re on track for retirement, as well as the value of your benefits package.

Death in service

No one wants to think about passing away. However, if you have employees with dependents, they could worry about how their loved ones would cope financially if they were to die. If they passed away, then death in service would pay out a lump sum to the employee’s family – 4x their salary, for example – to provide security and peace of mind. This is something we can help you put in place for your employees through an appropriate insurance policy.

Building a health and wellbeing programme with your employees in mind

There’s no one-size-fits-all approach to creating a health and wellbeing programme. It will depend on your business, employees, and their priorities. If you’d like help putting benefits in place, please contact us.

Please note: This blog is for general information only and does not constitute advice. The information is aimed at retail clients only.


We aim to keep our clients up to date on interesting and relevant financial news.

You can sign-up to receive our monthly newsletter by email, even if you’re not yet a client. Sign-up using the form below.

Client testimonials

I have always found Black Swan to be caring and understanding of my quirky lifestyle. I always feel they try to get me the best returns while respecting my current needs.

Sally Muir

A client since 2011

We would be very happy to recommend the support and service we receive.

Valerie Locks

A client since 2010

I have always been completely useless regarding finance - thankfully our financial adviser is not! I've retired with far more than I ever expected and investments continue to grow safely. So - thank you!

Bernadette Jane Warner

A client since 2000

Very happy with the professional service I have received and feel a lot happier now with my finances put in order.

Martin Field

A client since 2011

Julie Cooper was recommended to me by a work colleague. She has been very helpful, professional and has explained everything well. I would definitely recommend her services to anyone else who are interested in a financial review.

Steven Rooke

A client since 2018

…Service has been first class.

Hugh Fells

A client since 2012

My face to face meetings with Rob Young and Jessica Lyons have always been very open and understandable. My questions have been answered clearly and I have left feeling that my financial matters are in good hands.

Sandra Jack

A client since 2000

[A] safe pair of hands in a complex financial world.

Gary Middlehurst

A client since 2003

A reliable company with good communication skills and good knowledge of the financial markets.

Alan Evetts

A client since 2014

Maureen Pembridge is a long-time trusted advisor to our family. The market might fluctuate but her attention to detail is consistent.

Linda Burnard

A client since 2000

I am pleased to recommend Julie as a trustworthy financial advisor. She explains financial jargon in plain language, and always listens carefully to my particular financial needs and has helped me make the best of my savings.

Carolann Samuels

A client since 2010

I have always been satisfied with the way that Black Swan has handled my account. And I have always found the staff very helpful whenever I need to call the office.

Robert Anthony Matthews

A client since 2012

An excellent personal service from a person I know and trust.

Michael Dalton

A client since 2010

I am getting a very good services from Black Swan, they have got my investments sorted out which was in a bit of a mess.

Roy Jakens

A client since 2012

A good, efficient team providing clear ideas to shape a winning strategy.

Adrian Michael Levenstein

A client since 2011

Black Swan is a company to be trusted, with friendly staff and professional advisors.

David Brian Jennings

A client since 2017

I have been with Black Swan for many years. I have never wished to change anything. They give a good straight forward service.

Martin Barrett Brooks

A client since 2010

Andy Peters has been invaluable in firstly combining several pension pots and then giving excellent investment advice. It has given us a great deal of comfort to know that our financial affairs are in such good hands.

James Guillum Scott

A client since 2014

I find my financial advisor easy to talk to and feel that she understands my lifestyle. She is always available for help when I need her and explains in words that I can understand.

Margaret Ena Glasgow

A client since 2000

Andy is a first rate Director, excellent communicator and leader.

Ross Perry

A client since

Black Swan Financial Planning and Andrew in particular, are very clever at working out how risk averse we are, and coming up with solutions that we feel comfortable with. We are happy in the knowledge that we can continue to enjoy a comfortable retirement. Andrew Peters is a very, very friendly person who is great to chat to and easy to deal with. He explains things very clearly in layman’s terms, and if we still don’t understand, he explains it until we do!

Alan & Jane Dyer

Clients since 2012

We have always found Rob [Young] to be very approachable and knowledgeable. We have every confidence in the advice given and feel comfortable with the decisions we’ve made. There are certain opportunities that we wouldn’t have known about if Rob hadn’t brought them to light, which makes the advice good value for money as far as we’re concerned.

Peter & Pauline O’Halloran

Clients since 2013

Rob [Young] is extremely knowledgeable. I knew nothing about the different types of trusts which will not only secure my income in retirement, but also leave a legacy for my children. I’m glad that I sought his advice when I did.

Sarah Wilson

A client since 2015

I am extremely happy with the service afforded to me by the company and my adviser Julie Cooper.

Geoff Coxell

A client since 2010

My wife and myself have been dealing with Black Swan for a number of years. We have met with different representatives from the company over the years and have found all very helpful in their own way. We met with James [Anderson] a few years ago and found him very helpful and knowledgeable. He keeps in contact with us on a regular basis. We find the Company information very helpful and we feel very secure with our finances.

Andrew Kirchen

A client since 2015

I have always found my adviser to be easy to contact, very professional in his approach, yet friendly and understanding. I have a sense of an experienced company behind him, really on the ball financially and with good standards.

B McBean

A client since 2011

Partner with the most reliable and experienced team of advisers

Enter your details & we'll be in touch to discuss your needs.
Alternatively, contact us directly and speak to a member of the team.

    Subscribe to our newsletter