KBC Human Capital Solutions
Paying and rewarding employees in a more sustainable way
As an HR manager, you may be wondering how to attract and retain top talent while also implementing a sustainable remuneration strategy and keeping wage costs under control. The ideal way is to provide a flexible remuneration package that’s tailored to your company and your employees' careers.
What is a flexible remuneration package?
A basic wage provides employees with security and the ability to meet their basic needs. If you’re thinking about a means of remuneration that will result in a long-lasting employer-employee relationship, you need to look further than just the basic wage to meet the ‘higher’ needs of your employees.
One of the keys to more sustainable remuneration is a flexible remuneration package. Offering choices in the remuneration package enables employees to experience autonomy. They personally decide what they consider to be important at a particular stage of their life or career, which ultimately increases the motivational effect provided by the remuneration.
Provide a flexible remuneration package that’s tailored to your company and your employees.
The benefits:
1. You make the difference in the War for Talent
A flexible remuneration package is a strategic tool to help you stand out from competitors in the labour market and also increase your attractiveness as an employer. You are at a decided advantage not only when you offer choices in the composition of this package, but also when you make a package of benefits available.
2. You get motivated employees
People are motivated in different ways. The fact that your employee can choose what they consider to be important at a particular stage of their life or career enhances the motivational effect of the remuneration. For example, the latest smartphone may be important for Millennials, whereas additional pension saving opportunities may be more attractive to older employees. Offering a flexible remuneration package says something about you as an employer, namely that you take account of the individual needs of your employees and that you give them autonomy and a say in things. This leads to even greater job satisfaction.
3. You strengthen the employer brand
What is included in your remuneration package is a way for you to highlight your company values. If sustainability is key to your business operations, offer benefits in your package that relate to greener mobility, such as a lease bicycle.
4. The wage costs remain the same
Lastly, a flexible remuneration package can be budget-neutral. It starts with the wage costs for the employer (gross salary and social security contributions). If salary components or existing benefits are exchanged for benefits where the employer pays less in social security contributions, the difference is to the benefit of the employee. The employee receives more in net terms, while the employer’s wage costs remains the same. In other words, your employees’ salaries are worth more, without increasing your wage bill.
What are the different forms of remuneration and which ones does KBC offer?
Mobility
Want to have more satisfied employees and a smaller environmental footprint? If so, join us on the journey towards multi-mobility. We offer companies contemporary and sustainable mobility solutions that are tailored to each employee. Besides company cars, you have a choice of lease bikes and other modes of transport. If you’re curious about how to implement a forward-looking, flexible and diverse mobility policy as an employer, we'll show you the way!
Bonus
If you’re thinking about an additional means of remuneration to reward your employees, be sure to consider stock options and warrant plans. Not only do they provide financial and tax and social security benefits for both employer and employee, they also provide considerable freedom and flexibility. They certainly merit a place in a modern and motivational remuneration policy.
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Health and well-being
Ensure your employees have financial peace of mind in a time when health care is becoming increasingly expensive and less accessible. Offer them a financial safety net when it’s needed by providing hospitalisation insurance or guaranteed income. And commit to a well-being policy for your employees because prevention is much better than cure. Thanks to such a policy, you can ensure that your employees remain healthy, motivated and productive.
Retirement
After increasingly long working lives, employees also want to be able to maintain the same standard of living, even though life is becoming more and more expensive. Offering a pension scheme is a social and motivational gesture to them, as you provide financial peace of mind when they retire and additional security in the event of death or disability.
Read all about our group insurance for employees, starting a pension fund and outsourcing a pension fund.
Like more information on our offer or want to discuss your plans? Your relationship manager at KBC will be happy to help you!