4 Inexpensive Yet Effective Employee Benefit Ideas

4 Inexpensive Yet Effective Employee Benefit Ideas
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You’ve probably heard about the expensive, lavish benefits that big tech companies such as Google and Facebook are offering to their employees. As a small business owner, you might be wondering how you can ever match up when you’re working with a small budget for employee perks.

Today, a huge percentage of employees report that the workplace perks and benefits on offer are one of the most important deciding factors when it comes to whether or not they will apply for a job or accept an offer of employment.

So, no matter the size or age of your business, it’s important to have a strong benefits structure in place in order to attract the best talent. Here are some inexpensive yet effective ideas you could try.

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1. Flexible Vacation Time:

Research shows that employees who have a good work-life balance are not only happier but more productive in the office. In addition to their contracted holiday times, why not offer additional long weekends every once in a while or the option for them to take a short vacation on little notice.

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Offering staff the option of booking last-minute time off and a couple of additional holiday days will make your small business stand out. And, it’ll help to reduce the number of sick days whilst boosting productivity too.

2. Flexible Working Options:

If you can, giving your employees the option to work from home every so often will certainly make your company stand out to the top talent.

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In fact, studies have shown that having the option to work from home can lead to increased work productivity, improved company loyalty, and a lower turnover of staff, all of which benefit your business.

And, when employees are working at home, you’ll be using less energy in the office – all of which adds up to save your company money.

3. Memberships:

It’s not uncommon for large companies to offer free gym memberships to their employees, whether it’s for a gym on-site or a local chain.

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But if you can’t afford to pay for a gym membership for each and every employee, there are plenty of other membership ideas that you might want to consider.

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For example, covering the cost of a Netflix or Spotify membership will only cost you a few dollars per employee, and they’ll be able to enjoy movies, TV shows, and music for free as an extra reward for all their hard work.

Use software such as Apprize Technology to streamline the benefits process and make it easy for employees to manage their chosen options.

4. Team Building:

Being able to enjoy strong relationships with the people that they work with is important for many of today’s modern, young employees.

After all, when you spend eight hours per day, five days per week at the workplace, it’s always a much more pleasant experience when you’re there with friends.

Organize team lunches or days out so that people can get to know each other in a more informal setting; building relationships outside of work can strengthen teamwork in the office.

Which of these benefit ideas would work best in your small business?

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Paschal Okafor is NaijaTechGuide Team Lead. The article 4 Inexpensive Yet Effective Employee Benefit Ideas was written by NaijaTechGuide Team. The article was last modified: October 12th, 2019
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