Product management salary 2024

In today’s job market, it’s not enough for companies to just offer a good salary. They need to think about more than the usual health and pension plans when it comes to taking care of their employees. With the pandemic changing the way we work, what people want from their jobs has also changed. Now, it’s essential for companies to provide benefits that cater to employees’ lifestyles, keep them happy, and boost their productivity.

According to ACI Inspired Workplaces, the most sought after employee benefits in 2024 are:

Flexible work arrangements

This empowers employees to achieve a better work-life balance, manage personal commitments more effectively, and reduce stress related to rigid traditional work hours. The flexibility also enables employees to optimise their productivity, resulting in increased job satisfaction and a stronger sense of control over their professional lives. Ultimately, offering flexible work arrangements demonstrates trust and support from the employer, fostering a positive and loyal workforce.

Diversity and inclusion measures

Diversity, equity, and inclusion are important to employees because they create a workplace environment that celebrates and respects individual differences, ensures fairness, and fosters a sense of belonging for all employees. Embracing diversity means appreciating the unique perspectives, experiences, and backgrounds that each employee brings to the table. It encourages creativity, innovation, and better decision-making through diverse viewpoints.

Mental health support

When employers prioritise mental health support, it demonstrates genuine care for their employees’ welfare, creating a more compassionate and understanding work environment. This, in turn, promotes a sense of trust and loyalty among employees, fostering stronger connections with the organisation. Mental health support also plays a crucial role in maintaining a productive and motivated workforce.

Learning and development opportunities

By providing access to training workshops, courses, and seminars, employees can acquire new knowledge and expertise, which not only benefits them individually but also adds value to the organisation. Improved skills and competencies can lead to increased productivity, efficiency, and innovation in the workplace. Personal development and training also boost employee morale and motivation.

Family-friendly benefits

By offering family-friendly benefits such as enhanced parental leave, flexible work schedules, and childcare assistance, employers show that they value their employees as individuals with personal lives outside of work. This creates a positive and supportive work culture where employees feel appreciated and understood.

Technology and home office equipment

Most businesses now are offering to cover the cost of an employees home office equipment, making sure their home working environment is safe and fit for purpose. The main objective around this is to ensure productivity is the same in both working environments. It also makes the employee feel valued and more financially secure, without worrying about the cost of additional tech and office supplies.