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What Benefits Are Valued the Most by Employees?

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When it comes to hiring the best people for your business, one of the things that you should do is offer top-of-the-line benefits. This will help you stand out amongst the competition, so that people will be more inclined to accept a job with you over some of your competitors. If you intend on doing this, then you must know what some of the most sought-after benefits are. These are going to be discussed in more detail below.

Need Help Organizing Your Benefits?

If you run a business and need a hand organizing your benefits, then you will be happy to know that putting them all together has never been more straightforward. Company benefits can all be compiled in an easy-to-understand way using an organization, such as Zenefits. This will make it so that you and your employees can both understand what is available.

Health Insurance

One of the top benefits that a lot of employees look for these days is health insurance. When you as a business are offering top-of-the-line private health insurance, you will spark the interest of many different potential employees who are looking for a job. This is also an expensive benefit to provide, but if by offering it you will be getting top talent who are going to be making money for your business, then it is certainly an investment worth making.

Flexible Working

When flexible working was initially brought into force, there were a lot of employers and employees alike who weren’t too keen on the idea. Now, following its implementation, most people want to have a flexible working benefit available, because it allows them to have more control over their schedule and fit work around personal matters, such as going to the dentist and the doctors. As such, most employees will now expect there to be some element of flexible working in whatever business they work for. If you don’t offer this, then you should consider taking the steps necessary to implement it.

Free Food and Drink

One of the favorites that people like is access to free food and drink. This doesn’t mean you have to fork out for a three-course meal every single day, but it more refers to giving your employees access to free fruit in the office. Not only that, but access to coffee and tea would also be very much appreciated. It’s not a big ask, but it’s enough to let those who work for you know that you value what they do.

Conclusion

When it comes to getting the best employees on board, you need to stand out from the crowd and one of the best ways to do this is to offer employee benefits. There are several different benefits out there and some of the most popular are outlined above. They can cost a fair bit, but if you want to get the best talent on board, this is one of the most effective ways you can do it.

Is the CEO/Founder of Investors King Limited. A proven foreign exchange research analyst and a published author on Yahoo Finance, Nasdaq, Entrepreneur.com, Investorplace, and many more. He has over two decades of experience in global financial markets.

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Lagos State Increases Salary of Civil Servants Due to Current Economic Challenges

The Lagos state government has announced an increase in the salary of workers in the state public service.

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The Lagos state government has announced an increase in the salary of workers in the state public service.

The Governor of the state Mr. Babajide Sanwo-Olu disclosed this on Tuesday when he met with civil servants during his working visit to the State Secretariat, Alausa.

He, however, did not discuss the percentage of the increase but he assured the workers that the ground plan was being worked out.

In his words, “You have not asked for this one. I have looked around and I know that as a country, there is pressure, I know that as a country there is a high level of inflation.

“I know that as a country there is a high cost of living. Last month, at a cabinet meeting, I instructed the Head of Service Office and the Ministry of Establishment, Training, and Pension to start work on how we would increase the entire salary of the public service.

”I don’t want us to be a Lagos of ‘Buga,’ we want to reflect it in our salary. I am aware of the pressure on all of you and the pressure of inflation in the country, we are not going to wait for the Federal government. This is Lagos. We are Lagos.

”We are going to review it. We’re going to ensure that we can indeed take care of our public service. Once we do that, not only will we expect a lot more from you, but the citizens will see the benefit of doing the right thing.

”We don’t want to wait for a union to hold us to ransom, we want a government that is proactive, that will need to reflect on the yearnings of the people and make that happen.”

On the other hand, the federal government of Nigeria had earlier stated that there were plans to increase the N30,000 minimum wage in light of inflation and a hike in the price of food and commodities currently ravaging the country.

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LinkedIn Ranked Bamboo, Piggyvest, Moove Among Top 10 Nigerian Startups to Work With in 2022

Bundle Africa, Piggyvest, Bamboo, Moove among six others emerged as LinkedIn’s top 10 Nigeria startups to work

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Bamboo - Investorsking.com

Bundle Africa, Piggyvest, Bamboo, Moove among six others emerged as LinkedIn’s top 10 Nigeria startups to work.

LinkedIn released its list of top 10 emerging companies in Nigeria that are gaining both national and international attention. 

Topping the list is Bundle Africa, a financial service company founded in 2019. Following Bundle Africa was Utiva, an e-learning provider. 

Moove, another financial service company was ranked 3rd while Okra, a software development company was ranked 4th. Both Moove and Okra were established in 2020.

Also featured on the list is Cowrywise, a financial services company established in 2017. Cowrywise was ranked 5th while another financial services company, Bamboo which was established in 2019 took the 6th position. 

Other startups on the list include Nomba, TeamApt, Prospa and Piggyvest which were ranked in the 7th, 8th, 9th and 10th positions respectively. All four are financial services companies. 

A clear look at the list by Investors King shows that all the listed startups in the top 10 are headquartered in Lagos State.

According to the professional networking platform, despite the present nature of the economy and the stormy challenges of growing a company, the top ten companies are rising to the challenges and continue to innovate and gain attention in 2022.

LinkedIn further disclosed that it used LinkedIn data across four pillars to arrive at the list. The four pillars are employee growth, Jobseeker interest, member engagement within the company and its employees, and how well the startups pulled talent from top brands. 

LinkedIn further clarified that the list is ultimately meant to be a resource for jobseekers. Especially those that are excited with the opportunity to innovate, grow and solve big problems.

Of all the top ten startups, Moove has the highest headcount which currently stands at 425. TeamApt followed with a headcount of 350 while Nomba has a headcount of 235. 

Piggyvest has a headcount of 105 followed by Bamboo with a headcount of 75.  Prospa has 70, Utiva has 55, Okra has 50 while Cowrywise has the least headcount of 45.

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Bill to Jail Employers For Late Payment of Salary Reach Second Reading at the House of Rep

The House of Representatives has passed for second reading a bill that will penalised salary defaulters. 

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Femi Gbajabiamila

The House of Representatives has passed for second reading a bill that will penalised salary defaulters. 

The bill will prohibit late payment of salaries, underpayment of wages, pension and other emoluments in Nigeria.

The bill was sponsored by the speaker of the House of Representatives, Rt. Hon Femi Gbajabiamila. It scaled through to the second reading on Tuesday without a debate.  

If passed into law and signed by the president, employers who delay salary, wages and pension risk one-year imprisonment. 

Section 2 of the bill stated that “Every employer of labour in Nigeria, whether private or public, and whether it is employing any worker on permanent or contract basis must ensure that all payment of wages, salaries, pension and all benefits to workers are paid promptly without delay weekly, fortnightly monthly, quarterly or yearly as may be agreed by parties in the contract of employment of the additional individuals”. 

Furthermore, the bill seeks to prohibit arbitrary and harsh deduction as punishment in the event of damages and negligence by an employee. 

Section 3(1) of the bill says “an employer is prohibited from entering into any contract with any workman for any deduction from the sum contracted to be paid by the employer to the workman, or any payment to the employer by the workman for in respect of bad negligent work or injury to the material or property of the employer or in respect of any fine.”

Meanwhile, different opinions have trailed the bill. While some commentators commended it, others opined that the bill was dead on arrival. 

A social commentator with the name, Alabi Adejobi said,” The Federal Government and the State Governments are the worst salary defaulters. Unfortunately, they are also the biggest employer of labour in the country. So the law would not work because it is against the biggest defaulters.”

However, another commentator with the name Omolade Grace welcomed the bill. “Better, I hope they can enforce it.” She noted. 

Investors King understands that the bill will need to be passed by both the House of Representatives and the Senate before it is transmitted to the President. It will only become law if the present assent to the bill.

 

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