News

Social benefits, how do they help to deal with inflation?

The inflation It has significantly affected the pockets of Spanish workers. In addition, the increase in mortgage and rental prices has made it Reduce the budget that Spaniards spend on consumer, leisure and health activities.

In this context, the social benefits and company compensation have become more important than ever and have become an essential incentive to attract and retain talent. Kenjo, ‘all-in-one’ human resources software for SMEs, explains which are the social benefits that companies in Spain offer the most to retain talent, as well as to help their employees face rising prices.

According to data from the Ministry of Social Security, as of September of this year, more than 54,000 people with permanent contracts have left their jobs voluntarily, which doubles the figure of the previous year, when 22,839 had done so on the same dates. For this reason, having complementary social benefits is key to maintaining employee satisfaction and retaining talent.

To this retention of talent must be added the economic and safety factor that they have purchased these coverage services due to inflation, which leads employees to rely more and more on them.

These are some of the benefits What companies can offer to deal with inflation:

Warning, scroll to continue reading

Training grants

Training in aspects related to work or languages ​​is key so that workers can continue to grow without extra cost to their economy. In 2021, more than five million people were trained, according to data from the latest Fundae report. “Having the option of resorting to this route means avoiding a significant additional cost for workers at this time and helps boost their professional development”says David Padilla, CEO of Kenjo.

Access to private health coverage

Another of the benefits that companies in Spain offer the most and that employees value positively (especially as a result of the pandemic), is fully or partially subsidized access to health insurance. “These options, in addition to offering better hours and conciliation, allow access to professionals such as psychologists or physiotherapists, thus allowing workers to save considerable costs”Padilla points out.

“In addition, and in relation to health, at Kenjo we give employees the option of receiving free and unlimited online psychological therapy: a benefit that more and more companies are offering”Add.

Flexible compensation

In addition to the social benefits (that is, the financing of the services by the companies), another of the benefits that have been offered (and demanded) the most in 2022 has been the flexible remuneration, which consists of being able to choose not to pay all taxes the salary to allocate part of it to essential services such as childcare, courses or restaurant checks. “This system, increasingly integrated in Spanish companies, allows a small saving that is very helpful for workers, taking into account the inflation situation we are experiencing,” says Padilla.

Aid for family reconciliation

“Measures without direct economic implication, such as a flexible or reduced working day, are also providing financial assistance to families”, point out from Kenjo. For example, this type of benefit allows families not to have to delegate the care of their family to professionals. “Likewise, more and more companies offer childcare or training services for children, which is a boost to their parents as well as a loyalty action,” they explain from Kenjo.

Faced with inflation, which according to the latest data for November stood at 6.8%, David Padilla points out that “Companies have an opportunity to retain their employees by offering social benefits and digitizing their human resources network to offer a positive work environment and boost their feeling of belonging to the organization.”

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *