Too often we are led to think that corporate welfare is something "reserved for a few", that only large companies with millionaire revenues can implement, but this is not the case.
Let's see together why.
Large companies and SMEs: what changes for Welfare?
The answer to this complex question could be summarized as "nothing changes" .
The concepts and ethics underlying Corporate Welfare remain firm and unchanged.
Starting from the assumption that the objective of Welfare is to guarantee the well-being of employees, create a healthy and positive working environment, promote a healthy balance between work and private life ( work life balance) and guarantee - at the same time - an advantageous solution for the employer; it is clear that it is not the end that changes, but rather the means.
In fact, there are no Welfare services designed and reserved ONLY for large companies; a good welfare plan must "simply" be consistent with the reality to which it is applied and therefore adherent to the company population, regardless of the number of employees, the annual turnover or the work sector.
There is therefore no functional and successful Corporate Welfare plan regardless, but there are Corporate Welfare plans that are more or less suitable and appropriate for individual situations.
What are the requirements for a good corporate welfare plan?
A good welfare plan must be tailored to the individual company ; it must therefore be designed and created ad hoc, with respect and knowledge of the company population, adapting to the company's monetary needs and spending availability.
It is always good to underline that corporate welfare must respond to the real needs of employees, but cannot in any way replace a fair wage.
An adaptive and "changing" concept ofWelfare, with changeable and perfectible elements, obviously requires concrete skills and the right professional experience, but this has nothing to do with its price.
You don't need millions to activate a good corporate welfare plan; even small and medium-sized enterprises (SMEs), small businesses, studios and agencies, local commercial activities and public bodies can benefit from the benefits of Welfare.
Having the psycho-physical health of your employees at heart and implementing inclusive and proactive policies is priceless, but it doesn't require crazy expenses either!
Corporate Welfare and SMEs
Specifically, Corporate Welfare (as a broader concept and not only linked to Fringe Benefits), designed for small and medium-sized businesses, must take into account any limited resources and the specific needs of these entrepreneurial realities, without giving up its final objective .
As we have said, Welfare needs change from case to case, but some of the characteristics of Corporate Welfare in SMEs could include:
● flexibility
Welfare that is flexible and adaptable to the size and financial resources of the company allows you to choose between different options based on your needs and economic possibilities.
● Essentiality
Focusing on benefits that have a significant impact on employee well-being, without placing an excessive burden on the company balance sheet. For example, health insurance, pension plans, child care, legal or financial consultancy services.
● Participation
In a small company, it is possible to involve employees in the planning of corporate welfare, allowing them to express their needs and preferences.
● Health and well-being
Given limited resources, it is important to focus on programs that promote employee health and well-being, such as access to medical check-ups , fitness programs, stress counseling, etc.
● Non-monetary benefits (or Fringe Benefit)
In addition to bonuses and financial compensation, non-monetary benefits can be offered that improve the quality of life of employees, such as flexibility in working hours, teleworking, professional development programs, etc.
● Collaboration
SMEs can establish collaborations with external entities, such as insurers, financial institutions or healthcare providers, to obtain more advantageous conditions and offer better benefits to employees.
● Communication
It is essential to communicate the benefits offered in a clear and transparent way, highlighting their value and the company's commitment to improving employee well-being.
● Monitoring
It is crucial to regularly evaluate the effectiveness of corporate welfare programs to ensure they meet employee needs and are financially sustainable for the business.
It is certainly important to underline the fact that corporate welfare is also undeniably a way to make the company grow.
SMEs should therefore be even more incentivized to activate a good welfare plan. Contact us to tailor a Welfare plan for your business.