Source: Meghan Maher
Employee perks and benefits are the second biggest thing employees should consider when thinking over your job offer (behind base salary).
Of course there are the normal (and costly ones) like healthcare, dental, vacation days, and bonuses. However, not all benefits need to cost your company a ton of money, and these six low cost/free benefits may just put you a step ahead of your competition in the quest for top talent — and help you with your talent retention once they’re on board.
Consider adding one (or a few) of these employee perks to your benefits package:
Discounted gym memberships
In most areas this should cost you nothing. There are generally plans available that will offer a “corporate discount” if you have a certain number of people who sign up. I know that one gym in Boston takes $20 off of the monthly cost if you have a group of five or more from your company. The membership is still paid by the employee but you can boast that your benefits include a discounted gym membership.
Bring your pet to work day
Okay, so this isn’t right for every office, but if you have a smaller environment of pet lovers, try letting them bring their dog in every other Friday. Sure, it may slow productivity, but Fridays are generally slow regardless, and who’s not happier around a few pups??
Casual dress
This one obviously depends on your industry and type of work, but if your employees are mainly in the office then let them wear jeans! At the very least, have casual Fridays. Especially us “Millennials” – we like to be comfortable and if jeans will make us work harder, let it happen. Also, a good way to improve productivity is to have a contest that allows for jeans on Friday if you reach a certain goal.
A Nap Room
You think I’m kidding, but I’m not. There was a study done that proves a 10 minute nap at the right time of the day (between 1pm and 3pm) boosts productivity astronomically. Just stick a La-Z-Boy into a small, never-used conference room and there you go — a benefit every employee will take advantage of at some point.
Summer Hours
Okay, so maybe this one isn’t “free,” but who is over-productive between 3:00 and 5:00 on a Friday afternoon during summer? Summers tend to have a lower work load, so give your employees two extra hours to their weekend Memorial Day through Labor Day and they will make it up to you the rest of the year. Those few hours go a long way.
Open vacation policy
This is big one. It may even actually cost the company less, but it is seen as a huge perk to employees. Not having to worry about taking vacation or a family emergency is a huge weight that’s lifted. Also, it has been found that companies with open vacation policies have a better work environment. It gives the employees control and allows them to make adult decisions and work at their on pace.
So there are a few examples of low cost benefits. There are so many more options so get creative. Take advantage and your employees will thank you for it with hard work and positive attitudes!
About Scale Finance
Scale Finance LLC (www.scalefinance.com) provides contract CFO services, Controller solutions, and support in raising capital, or executing M&A transactions, to entrepreneurial companies. The firm specializes in cost-effective financial reporting, budgeting & forecasting, implementing controls, complex modeling, business valuations, and other financial management, and provides strategic help for companies raising growth capital or considering M&A/recapitalization opportunities. Most of the firm’s clients are growing technology, healthcare, business services, consumer, and industrial companies at various stages of development from start-up to tens of millions in annual revenue. Scale Finance LLC has offices throughout the southeast including Charlotte, Raleigh/Durham, Greensboro, Wilmington, Washington D.C. and South Florida with a team of more than 30 professionals serving more than 100 companies throughout the region.
