Planning to Hire? Consider Offering These Benefits
No matter what industry your business is in, one of your primary goals is to attract top talent. And, once you get them on payroll, you want to keep them. While you have to offer a competitive pay structure, there are plenty of other ways to keep your staff happy.
Thrive Consulting looks at ways employers are changing to better serve their employees by providing benefits beyond health insurance and vacation time.
Where To Begin
Start with the basics. Make sure that your company has a comprehensive health and wellness plan, which should include health, vision, dental, and mental health insurance. Next, talk to the people who work for you already by doing a satisfaction survey once each year. This will give your employees an opportunity to tell you what they love and what they don’t about working for you. Use this information to address issues in your work environment or culture and to decide which perks and benefits matter the most.
Bang For Your Buck Benefits
While you can’t get around spending some money, you want to avoid wasting on benefits that nobody wants. Here are five options you may not have considered that won’t leave your accountant pulling their hair.
Discounted cell phone plans.
We all use our cell phones every day. But, these can cost $100 or more per month for each employee. If your employees use their phones for work, consider footing the entire bill. If not, contact your corporate cellular service provider and simply ask. Most will give you a discount of up to 25% per line for all employees that enroll, according to Lifewire. They still pay their own bills, but it’s a valuable savings.
Paid professional development/coaching.
No matter what position your employees are in, the only place they can go is up. When you invest in their professional development, like many other corporations do, you can pick and choose the types of training that are most beneficial to your company. This will give them a leg up in business, and provide a solid foundation to help them grow in their careers.
In that vein, consider helping them further their higher learning by paying for their education if it’s related to their job. For example, with a degree in business, employees can learn skills such as accounting or business administration which they can apply to their job. An online program gives employees the flexibility to balance work, family, and school.
Free fitness classes.
You want your employees in their best shape, and you can just about guarantee that they want that too. But, exercise takes time. Consider giving your employees a late start a few times each week to participate in yoga, circuit training, cycling, or aerobics classes. There are many other types of exercise programs to choose from. Contact your fitness center, and ask about group rates.
Employee assistance program.
An employee assistance program is an employment-based list of offerings that you can provide your employees when a situation emerges. This might include substance abuse counseling, legal help during a divorce or adoption, or guidance for buying a first home. Montridge Advisory Group explains that these types of programs are affordable and can lead to better productivity while helping you save money and increasing employee retention.
Flexible scheduling.
Another crucial benefit, especially given that we all want to work remotely these days, is having a flexible schedule. Even if you can’t allow your employees to work from home, consider having core hours that offer flexibility outside of your business’s most crucial time of day. A compressed workweek or even allowing two employees to share the same job as part-time workers may appeal to talented individuals that can’t dedicate their 40-hours on a traditional nine-to-five schedule.
There are many job opportunities available today. No matter which industry you are in, getting the right employees is a cutthroat task. If you don’t offer innovative, attractive, and unique ways to keep your staff happy, you can bet your bottom line that your competition will. Ask your staff what they want, and don’t be afraid to think outside of the timeclock.
Image via Pexels
