Finding the right people to help your business grow can be tough, but there are some employee benefits that can have a big impact on your workers' happiness and job satisfaction that don't cost a fortune. Whether you are able to offer traditional benefits like health and life insurance and retirement or not, consider offering one or more of these five benefits as a way to retain great employees and build your business:
1. Give them a name. Research has shown that employees will often work harder for a job title than they will for a raise, and the best part for you is that this benefit is free. Consider the pride that your employees will get from telling others that they are a "director" or "customer service manager" instead of just saying that they work for X company. Business cards have grown increasingly inexpensive, so provide business cards for them to hand out to friends and family, and think of it as marketing as well as a benefit.
2. Be flexible. For many employees, being able to work within a time frame that suits their lifestyle offers a significant benefit. Whenever possible offer employees the ability to alter their schedule to better meet their needs, whether that is working four ten hour shifts instead of five eight hour shifts or working from six to three instead of eight to five. Giving employees some control over their hours builds loyalty and will help retain employees even if other job opportunities arise.
3. Be direct. A direct deposit option can help streamline employee finances and may even save your business money. More companies are moving toward paperless systems, and direct deposit is a time saving and simple benefit that small businesses often overlook. Allowing your employees the option of having their checks deposited automatically is a way of removing one task from their busy schedules.
4. Sell them on your company. Employee discounts have long been used by large corporations to encourage workers to shop where they work. Allowing your employees to purchase products at or near cost builds pride in your company and shows employees that you value them. You may also want to consider providing "friends and family" discounts that employees can offer to loved ones. Particularly around the holiday season, this benefit can also serve as a way to market your business.
5. Reach out. Offer employees who give back to the community the opportunity to volunteer with groups in your area while still receiving their normal wage. Set a limit on the hours that an employee can work, and then let them choose a service organization of their choice. Whether they want to work at a local soup kitchen, animal shelter, or build homes for charity, the power to give back while earning a paycheck is a powerful motivator. Additionally, this benefit will show your community that you are a company who cares and help build your reputation.
