Corporate welfare: how to create well-being and satisfaction within your company!

The benefits of corporate welfare

The corporate welfare plan is a tool that aims to concretely support the daily life of employees and therefore should be tailor-made according to their needs and characteristics. A good welfare plan should in fact allow you to support your collaborators with advantages and benefits that can be spent in many forms and in different situations.

Thanks to the integration of income in other forms, corporate welfare allows you to obtain tax benefits related to the deductibility of costs incurred for the implementation of the plan. Therefore, there are advantages for both parties: the resource will have concrete support and incentives that can be spent in his private or professional sphere, while the company will be able to contain costs and retain collaborators in a diversified way, inevitably increasing the reputation.

What you need to know to build a personalized welfare plan

Corporate welfare is the set of incentives that the employer offers to its employees. It represents the set of goods and services selected by the company to meet the daily needs of employees and their families.

The first action to take is to develop a welfare plan based on the specificities of your collaborators. You could carry out a survey to probe their needs, their shortcomings and their desires; this would allow you to build an ad hoc welfare plan for your company. There are no rigid and pre-established plans, but a welfare plan must be thought out, built and customized with care. Many companies, for example, choose to create a welfare plan for homogeneous categories of employees (of equal level of authority or job) or plans for different categories of employees. In both cases, you will have to decide whether to give your resources the opportunity to choose to receive either incentives or prizes in pay checks or the equivalent in welfare goods and services. Your choice will depend on the type of approach you wish to implement in your company.

Welfare “on top” or based on reward: this is the welfare solution applied to homogeneous categories of workers. It provides the offer of goods and services to collaborators made unilaterally by the company and without the involvement of any employee representatives. This type of welfare plan can only be used in goods and services without any possibility of monetizing the value of the incentive. This welfare plan is also called reward welfare because it can be correlated with company objectives.

Contract welfare: It usually concerns the simpler solutions made mandatory by contracts and sector categories, these also include Flexible Benefits.