Aside from customers and clients, employees are the lifeblood of any business. From executives to utility personnel, they make sure that the cogs and wheels of a well-oiled machine run at peak efficiency. Without its employees, any business venture will not only grind to a halt; it will implode and collapse.
The number one priority in any type of business is keeping employees happy and satisfied. Government-mandated benefits such as the Consolidated Omnibus Budget Reconciliation Act of 1985 (COBRA), Social Security Act of 1935 (Unemployment Compensation Law), and Worker’s Compensation are enjoyed by workers today. However, what other benefits can companies offer to their employees?
Everybody loves discounts as this helps them purchase what they want for the best price. Some hiring managers use employee discount schemes when hiring potential candidates. They know how competitive the job market is, and job seekers want additional benefits on top of their basic salaries.
They know that these types of perks can help them save up to $2,000 on their monthly budget expenses. They believe that having discount privileges also shows how a company treats its employees outside their offices. No need to look for a moonlighting gig just to augment their finances. It’s an excellent perk for both company and its employees.
Depending on the nature of the business, open schedules arrangements are another type of employee benefit. Employees can opt to either report to work early or at a later schedule. This also gives them the freedom to choose when to work to manage their time better. They’re not bound by time constraints and are usually driven by results and output.
Companies that offer this type of perk will benefit from more productive workers. Employees who feel that they’re given enough time to balance their lives are more than enthusiastic to report for work. However, HR managers must assess if this type of arrangement will work in their line of business.
Health and Wellness Activities
Aside from premium discounts and flexible working schedules, health and wellness activities are also good examples of employee benefits. Exclusive gym memberships, thanks to company tie-ups, will encourage employees to adopt healthier lifestyles. Remember that a typical office environment tends to promote a sedentary cycle.
Sitting in the office for extended lengths of time can lead to higher medical costs and lower employee morale. Employees will welcome any activity that helps promote wellness.
Other Forms of Leave
Companies usually offer time-offs or PTOs, but “unlimited leaves” and “paid parental time-offs” are what most employees prefer. Some companies allow their workers to avail of unlimited paid vacations to encourage them to rest after finishing a vital project or winning a business pitch.
Other offer parental time-offs for new parents who want to spend more time with their newborn children. This also applies to parents who successfully adopted a child or through surrogacy. These leave benefits will empower employees to take ownership of their duties as they were rewarded with extra perks.
Finding and new employees can be hard, but retaining employees is easier. Listen to what makes them tick and find the best ways to reward them for their hard work. In the end, if you take care of them, they will take good care of your business.