Fringe benefits – just a trend? On the contrary! Whether as an effective recruitment incentive, a boost for staff motivation or to strengthen company loyalty: Skillfully applied, staff gifts are a guarantee of success. They offer your team real added value and establish your company as an attractive employer. But what exactly are fringe benefits? What advantages does your company gain with employee gifts? How are employee incentives constructively used in Switzerland? We have compiled the key findings for you.
Fringe benefits are employee incentives. Unlike commission and premiums, these employee gifts are not linked to individual performance or the company’s success. With all kinds of additional services, companies guarantee real added value for their staff, both at work and at home. To support a healthy work/life balance, at AXA we offer our staff, for example:
Today companies are fighting for the best employees on the labor market. In the last few years, employees’ attitude to jobs and money has fundamentally changed. The ideal professional picture is a meaningful job in a pleasant working environment. Personal career opportunities come to the fore in job searches. This also affects the positioning of Swiss companies on the labor market. Salary increases are no longer the sole motivation, as extra benefits and discounts take on greater importance. This variable compensation in the form of employee gifts is aimed at retaining staff in the company for longer and therefore reducing operating risk.
The competition for ever higher salaries is a risky game for Swiss companies. The financial possibilities are limited. In addition, most salary-focused employees are not particularly loyal to the company. If a company improves the wellbeing of its employees through fringe benefits, this has a range of positive effects. Thanks to supplementary benefits, employees will be happier both in and out of the office. Individual gifts spread joy among team colleagues, the general work atmosphere improves, productivity rises, the company wins.
An additional positive side effect of employee incentives is that they don’t result in higher tax. In Switzerland, employee gifts do not increase taxable income or insurance contributions. Fringe benefits are worth it even in times of crisis. If the company has to save money, employee gifts can be structured flexibly in terms of type and scope, whereas adjusting the salary structure is a challenge.
Soon the talk is that “AXA has won me over with attractive employee offers and benefits”. From our own experience, we can say that fringe benefits are a clear competitive advantage when it comes to recruiting qualified personnel. Particularly effective: Employees share preferences with their contacts on ratings platforms such as kununu and social media platforms such as LinkedIn, Xing and Twitter. The company genuinely becomes more attractive and reaches potential qualified personnel without having to spend money on advertising. A simple and effective employer branding tool that makes your company a love brand.
From the initial interview through multimedia blog articles to social media: Actively communicate your employee incentives. Tax-free benefits are seen as a priority. Staff like it that companies appreciate them in this particular way. Whether a free season ticket, free parking space or occupational benefits on special terms: Present your fringe benefits as a central plank of your identity as an employer, not simply as bonuses or premiums. Show your employees that they mean more to you: They enjoy a special sense of belonging, benefit from exclusive advantages, receive original gifts, and are respected and encouraged as a success factor.
AXA uses the Swiss company Swibeco for handling its fringe benefits. The digital platform brings together all the administration of employee incentives, from the gift idea to the delivery of rewards. Whether for a birthday, company anniversary or as a Christmas gift: With Swibeco, you’ll no longer need to rack your brains to come up with the ideal employee gift. The platform offers a large selection of offers so that your staff can put together their individualized gifts themselves and at the same time benefit from unique discounts. This not only increases staff satisfaction but also their purchasing power.
As such, the Swibeco rewards system is simple to implement both for SMEs and large companies. The system is flexible, can be adapted to the company’s corporate design (including logo) and integrated into the existing HR system. Work in the HR department for employee incentives is reduced to a minimum. Swibeco also handles the negotiations on discount offers and partner links, and is constantly expanding the large selection of gift options for every occasion.
Satisfied employees are one of the most important pillars of any successful company. Material incentives such as salary alone are no longer enough to position companies as attractive employers. If employees are a proud part of the company, this improves performance, commitment and the company’s reputation. True appreciation and personalized gifts provide motivation and encourage a positive work environment. Whoever takes care of the individual needs of employees with fringe benefits will gain in the long run in terms of length of service, professionalism and quality.