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It is not really viable to measure the value, honestly. Benefits are something that are nice to have when something happens, but otherwise they are out of sight and mind.
Best you might be able to do is conduct a survey and ask people about which benefits they value the most, what do they feel the benefit does for their family, and what improvements they would like to see (beyond just making them free).
Yeah I usually think about it in terms of retention, engagement, and productivity. If a benefit helps people stay longer, feel more supported, or do their best work, that’s a win for the org. Sometimes it's not about direct ROI, but the overall morale boost it brings.
Great points. I think we can have a something like an employee NPS score. Try to gather quality data and have a metrics to try to impact like employee retention.
I think ‘productivity’ is another item that’s hard to define and measure. In the tech space - pushing more code doesn’t mean it’s good code or that’s helping the users. So you have to be careful about incentivizing the wrong behaviors.