Connect with us

Jobs

What Benefits Are Valued the Most by Employees?

Published

on

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, Businessinsider, Nasdaq, Entrepreneur.com, Investorplace, and many more. He has over two decades of experience in global financial markets.

Continue Reading
Comments

Jobs

Minimum Wage Negotiations to Restart, Government Considers Revision

Published

on

civil-servants

After a dramatic walkout by labour leaders following the Federal Government’s proposal of N48,000 as the new national minimum wage, negotiations are set to resume with indications that the government might reconsider its stance.

The Chairman of the Tripartite Committee on National Minimum Wage, Alhaji Bukar Goni, conveyed this possibility in a letter inviting labour leaders back to the negotiation table.

The letter, dated May 16, 2024, highlighted the government’s willingness to shift its position on the proposed minimum wage.

The walkout occurred 24 hours after the Nigeria Labour Congress (NLC) and Trade Union Congress (TUC) leaders left the negotiation committee in protest against the government’s offer.

The organised private sector had initially proposed an offer of N54,000, which also spurred contention during the talks.

In response to the government’s proposal, the National President of the NLC, Joe Ajaero, vehemently rejected the offer, insisting on a minimum wage of N615,000.

Ajaero argued that this figure was arrived at after a thorough analysis of the current economic situation and the needs of an average Nigerian family of six.

Blaming both the government and the organised private sector for the breakdown in negotiations, Ajaero expressed disappointment in what he deemed as an inadequate proposal.

He highlighted the disparity between the proposed minimum wage and prevailing standards, asserting that the suggested amount would undermine the economic well-being of workers and their families.

The Director-General of the Nigeria Employers Consultative Association (NECA), Mr Adewale-Smatt Oyerinde, criticized the unions’ decision to walk out, labeling it as unfortunate.

He urged union leaders to reconsider their position and return to the negotiation table in the interest of their members and national development.

In response to the criticism, Ajaero defended the unions’ actions, emphasizing that the proposed N48,000 as the minimum wage insulted the sensibilities of Nigerian workers.

He accused the government of failing to provide substantiated data to support its offer, further undermining the credibility of the negotiation process.

Amidst the ongoing dispute, Goni’s letter invited labour leaders to resume negotiations, assuring them of the government’s willingness to reconsider its proposal. The letter underscored the importance of all parties coming together to analyze the tripartite position and make necessary concessions.

The resumption of negotiations holds significance for Nigerian workers, as the current minimum wage of N30,000 is set to expire soon.

The tripartite committee, comprising representatives from the government, private sector, and labour unions, aims to recommend a new national minimum wage that reflects prevailing economic realities and meets the needs of workers across the country.

As labour leaders prepare to return to the negotiation table, hopes are high for a resolution that addresses the concerns of workers while fostering national development and economic prosperity.

The outcome of the resumed negotiations will have far-reaching implications for millions of Nigerian workers and their families.

Continue Reading

Jobs

Federal Government Tripartite Committee to Discuss Minimum Wage Reports Today

Published

on

The Federal Government’s tripartite committee on minimum wage is set to convene today in Abuja to discuss the new national minimum wage.

The committee, comprising 37 members, will gather to deliberate on the final reports submitted by various subcommittees tasked with assessing and recommending adjustments to the minimum wage structure.

Among the key agenda items for the meeting, which will be held at the Nicon Luxury Hotel in Abuja, are the consideration of reports on the proposed new minimum wage and the establishment of a subcommittee responsible for drafting the final report to be presented to the Federal Executive Council (FEC).

The committee will address issues related to sanctions for wage violations and procedures for reporting such violations. Reports on the survey of the informal sector of the economy conducted in 2023 as well as those from the National Salaries, Income, and Wages Commission (NSIWC), will also be reviewed.

The timing of this meeting holds significance as it comes on the heels of Minister of State for Labour and Employment, Nkeiruka Onyejeocha’s announcement during the recent Workers’ Day celebration.

She stated that once approved, the new minimum wage would take effect from May 1, 2024, underscoring the urgency of reaching a consensus.

Amidst these discussions, the Nigeria Labour Congress (NLC) has put forward a bold recommendation for a new minimum wage of N615,000.

This figure, according to the NLC, reflects the meticulous calculation of the monthly cost of living for Nigerian workers, factoring in expenses such as food and transportation.

The NLC’s proposal underscores the pressing need to address the economic challenges faced by workers amidst rising production costs, dwindling purchasing power, and elevated exchange rates.

The union’s research, conducted across all states of the federation, aimed to capture the true cost of meeting the primary needs of an average family in Nigeria.

However, the proposed wage increase faces scrutiny, particularly regarding its feasibility and potential economic implications.

Critics question whether such a substantial hike is sustainable and whether it adequately accounts for broader economic factors such as inflation and fiscal constraints.

As the tripartite committee convenes today, stakeholders will engage in robust discussions aimed at striking a balance between the aspirations of workers for improved wages and the imperative of maintaining economic stability.

The outcome of these deliberations will not only shape the livelihoods of millions of Nigerian workers but also influence the trajectory of the nation’s economy in the months and years to come.

Continue Reading

Jobs

Federal Government Approves 25-35% Pay Rise for Civil Servants on Eve of May Day

Published

on

civil-servants

The federal government has sanctioned a significant pay increase ranging between 25 and 35 percent, effective from January 1, 2024.

The announcement, made on the eve of May Day, also known as Labour Day, showed government acknowledgment of the contributions and welfare of the nation’s workforce.

The decision comes amidst the culmination of the deliberations of the 37-member tripartite committee on national minimum wage, led by former Head of Civil Service of the Federation, Bukar Goni Aji.

Launched in January, the committee’s report is set to be submitted shortly, addressing critical concerns regarding wage structures and standards.

According to Emmanuel Njoku, Head of Press at the National Salaries, Incomes, and Wages Commission (NSIWC), the pay increments extend across various consolidated salary structures, encompassing entities such as the Consolidated Public Service Salary Structure (CONPSS), Consolidated Research and Allied Institutions Salary Structure (CONRAISS), and others.

The federal government has also approved commensurate pension increases, ranging from 20 to 28 percent, for pensioners enrolled in the Defined Benefits Scheme within these structures.

While the news of the wage hike has been met with anticipation and optimism by some, the Nigeria Labour Congress (NLC) has expressed skepticism, dismissing the move as inconsequential.

Chris Onyeka, Assistant General Secretary of the NLC, rebuffed the announcement, stating that the commission lacks the authority to dictate national minimum wage rates.

Onyeka emphasized the need for substantive actions that truly address the concerns of civil servants and the working class.

Despite the NLC’s reservations, the wage increase marks a significant development for government workers grappling with the economic challenges exacerbated by inflation and rising living costs.

The approval signifies the government’s recognition of the imperative to provide adequate remuneration to sustain the livelihoods of its workforce.

In response to inquiries regarding the timing of the announcement, Njoku clarified that there is no wrong time to implement policies beneficial to workers.

He assured that the government would promptly disburse the arrears owed to employees from January onwards.

However, behind the scenes, speculation persists regarding the motives driving the government’s swift action.

Sources within senior government circles hinted that the announcement was preemptive, aimed at forestalling potential unrest during the May Day celebrations.

Concerns over the prospect of organized labor protests prompted government officials to expedite the wage increase, averting potential clashes or disruptions.

In light of these developments, the onus lies on the government to engage constructively with stakeholders to address the broader issues confronting the workforce.

As civil servants welcome the prospect of improved remuneration, the nation awaits further initiatives to enhance the welfare and prosperity of its labor force, underscoring the significance of sustained dialogue and collaboration between the government and labor unions.

Continue Reading
Advertisement




Advertisement
Advertisement
Advertisement

Trending