How important are employee benefits? According to a statistic from the career site Glassdoor and relayed by bytestart, 57% of all workers deem perks and benefits among the top factors they weigh up when deciding whether they should accept a job offer.
This situation could put your small business in a quandary if you just lack the finances to be overly adventurous with what employee benefits you offer. So, what cost-effective options could you consider?
Six Employee Benefits Your Business Shouldn’t Miss Out On
1. Free Snacks
Imagine your workers being able to tuck into the likes of fresh fruit and cereal bars during brief breaks between sessions of heavy-duty working.
In the Social Market Foundation’s happiness study reported by Business News Daily, researchers found that a group allowed to eat snacks and watch ten minutes of funny video footage become, when it was time to work again, more engaged – and 12% more productive – than a group denied the same treats.
2. Fitness Activities
You can’t expect your workers to get fit if they don’t always have ready access to the fitness amenities they need in order to do so.
Therefore, your workforce – and, by extension, the business as a whole – could benefit immensely from you offering an array of fitness-related perks. Perhaps you could arrange for company exercise classes to be regularly held, or offer each employee a discount on gym membership?
3. A Better Work/Life Balance
You might be familiar with companies offering the option of flexible working to any employee who has completed at least 26 weeks of work to the standard timetable.
However, what about going one further and letting your new recruits request flexible working from the day they join the company? It’s certainly a measure that could help your firm to stand out from the crowd.
4. Work Incentives To Staff
While your company’s budget might not stretch to offering year-round benefit schemes, you could still offer some benefits on more of an ad hoc basis. For example, you could occasionally offer to reward a prize to any employee who meets a specified target.
The prize itself doesn’t have to be too expensive; you could just offer that employee a box of chocolates or an early finish to their workday.
5. More Freedom
Some perks wouldn’t require you, as the business owner, to spend a lot – if anything at all. Good examples of these perks include letting your employees arrive at the office in casual work attire or bring their dogs – if they have dogs, obviously – to work with them.
Perks like these are just about letting your workers loosen their usual work-imposed restrictions without hampering their usual level of productivity.
6. Life Insurance
“There are certain benefits good employees feel they must have,” Ray Silverstein, founder of the small-business advisory network President’s Resource Organization (PRO), is quoted as saying in an Entrepreneur article.
For this reason, you should seriously consider offering life insurance even if local laws don’t require you to provide it. Fortunately, you don’t have to struggle if you are eager to find suitable life insurance for small businesses.
- How Businesses Can Help Combat Climate Change
- Trying to Improve your Customer Services & Experience: Use Chatbots
- 10 Best Small Business Ideas in UK
Author: Edwin Owusu Peprah