Many small businesses find it difficult to offer the benefits that large corporations and firms can. Sometimes the result of this can be a failure to attract talent or retain valuable staff members. However, there are a number of other employee benefits that can be offered by small businesses that are affordable and don’t require hours of administration, which can help attract valuable employees. Below are five attractive employee benefits that will greatly increase the recruiting power of a small business.
Whether an employee works full time or part time, the most attractive employee benefit offered by both large corporations and small businesses, is the option to work flexible hours. Working flexible hours, also known as flextime, allows employees to tend to other responsibilities in their lives, such as child caring. For example, an employee might prefer to work from 7am to 4pm in order to spend more afternoon time with his family. Flexitime employee benefits should favour both the employee and business, so it is important that a reasonable schedule is agreed upon.
With advancements in technology it is possible to complete many work tasks at home as opposed to being on-site for a full working day. In most cases, the only essentials that are needed is a laptop and a good internet connection. This employee benefit allows workers to spend more time at home with their families and is particularly beneficial if a worker has an infant or pre-schooler to care for. Furthermore, this employee benefit reduces transport costs as well as office space requirements. However, it is important for small businesses to monitor the productivity of a remote worker and to agree on a reasonable schedule.
Discounted Products or Services
Another attractive employee benefit is to offer free or discounted in house products or services. For example, a small accounting business could offer free tax returns or a retailer could offer staff reductions on items.
Parking/ Commuting Monetary Assistance
The cost of transport and parking costs for employees is constantly increasing, and thus an attractive employee benefit is to offer free or reduced parking, or to even reimburse a portion of transport costs. This is a particularly attractive employee benefit for those who live far from the office.
Many people enjoy contributing to charities but simply do not have the time to do so. Thus, a creative and socially meaningful employee benefit is to dedicate a number of hours over a certain period of time to charity work. This could also be a team building activity to help boost morale in the office.
Penny Munroe is an avid writer in business related news and tips. Articles include sourcing the best Melbourne office space to small business tips.