Perks Matter to Your Employees

perks matter to your employees

Estimated reading time: 2 minutes

As a small business owner, you know how important your employees are. You might consider them your business’s most valuable asset. As a result, you should do whatever you can to keep them happy, productive, and engaged. Offering unique perks is one way to do this. They can also help you recruit top talent for your business. This Balboa Capital blog article explains why perks matter to your employees and how they can help improve your business’s culture. Also included is a list of low-cost perks to consider.

Times are changing.

It was not that long ago when health insurance, paid vacation hours, and 401K plans were key drivers of job satisfaction. Millions of Americans had those traditional benefits at or near the top of their “wish list” when looking for a new job or changing careers. Well, times have changed. Today’s workers look for flexible work hours, employee discounts, gym memberships, and wellness programs.

The numbers do not lie.

A leading business research company surveyed 1,000 employees nationwide and found that perks lead to more satisfied employees, increased productivity, and decreased turnover. In addition, one in two employees says those perks make it enjoyable to come to work. Lastly, one in five employees who have perks says those perks will keep them from looking for employment elsewhere.

Inexpensive perks to consider.

Perks allow your small business to stand out and provide things that matter to your employees. Best of all, you can start offering them with a minimal investment. Low-cost ideas include healthy snacks, gourmet coffee, gym memberships, holiday parties, team-building retreats, quarterly/annual awards, and birthday remembrances. Offering employees the option to work remotely is also a great benefit. Doing this can save you money because you will not need to rent as much office space.

Summary.

Your small business will have to address the more costly benefits like healthcare insurance and paid leave options, but do not overlook the affordable perks mentioned above. Giving a little extra to your employees can go a long way and even prevent your competitors from stealing them from you.

The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual.