5 Unique Low-Cost Employee Perks

Employee perks have become very important for competition in business life. If companies do not care about employee benefits, they will, unfortunately, be forced to lose their talents in the market.

What are the Basic Expectations of Employees?

– Health insurance

– Paid vacation and sick days

– A retirement plan

– Disability insurance

– Workers’ compensation

– Unemployment insurance

– Paid parental leave

Employee perks show that your business goes beyond anything to make employees happy and that you value them as people with obligations, goals, and needs beyond their duties. You can use these low-cost employee perks to convince other talents to work for your company and show them that working for your company is beneficial for employees.

Some examples of employee perks include:

– Flexible schedules

– Remote work

– Casual dress code

– Employee assistance programs

– Onsite wellness programs and facilities

– Onsite childcare

If you offer employee benefits, it will make your company valuable and most importantly “preferable”. Other than these advantages, employee perks not only help you attract new talents but also help you keep existing talents. Sometimes these small “low-cost perks” that contribute to employees’ work-life balance can help you to beat competitors’ higher salary offers.

Small business owners don’t always have the budget to spend on employee perks. But there are some low-cost employee perks that you can use to attract new talents or keep your existing ones.

Here are 5 low-cost employee benefits

Flexible Scheduling

Flexible work schedules are a great low-cost employee perk for both employee and employer. It helps to increase productivity. Employees are not only given more control over how they spend their time, but also an environment of autonomy. This autonomy can lead to higher productivity. Some other advantages are:

– Employees can become less stressed.

– Employees can make healthier and happier decisions.

– Builds trust.

Volunteer Hours

Say goodbye to the “me” culture and hello to the “us” culture. In an age where corporate and social responsibility is a top priority, giving your employees time to volunteer has become almost equivalent to letting them go. Employees today want to belong to something bigger than your company. Especially for millennials, your company’s charitable and volunteer initiatives can influence job seekers’ decision to accept your offer. Employees are balancing work and life in new ways. Volunteering on the job is an extension of that.

Matching With Associations

More than ever, today’s employees want to see the organizations they work for support the events they believe in. Creating an employee-matching gift program is an easy win in this area. Employees will feel empowered to make positive impacts for causes they care about; As a result, you will likely play a larger role in supporting your local community.

Contests that Promote Healthy Choices

Create fun competition among your employees to make healthy lifestyle choices. Consider offering fun, inexpensive (or free) rewards for earning or achieving goals, as well as discounts on the first purchase of fitness monitors for those who want to participate. You can set aside cash gift cards and extra workout days for the winners.

Partnering with a local gym to offer employees company-specific gym membership discounts is another relatively inexpensive option.

Fun Games and Social Responsibility Activities

How about adding collaborative games to your employee break rooms? Jigsaw puzzles and other teamwork games can encourage friendly competition.

You can connect corporate fun to social responsibility activity by offering employees inexpensive arts and crafts supplies to create cards or holiday decorations for hospitalized children.