5 Perks You Can Offer Your Employees That Won't Break the Bank

In the highly competitive world of recruiting, companies are constantly looking for ways to stand out and attract top talent. Keeping up with the latest workplace trends can be challenging,  especially considering how much they continue to change and grow. However, there are certain perks that employees value above all others. In fact, a recent survey found that 94% of workers view benefits as a crucial factor when deciding whether or not to accept an offer from a new company. Therefore, as a business owner, it’s important that you understand what your potential
employees want – and how you can give it to them. This blog post will explore 5 different employee perks you can offer your employees that won’t break the bank.

A Flexible Working Environment

Flexible work arrangements are becoming more popular as companies strive to create a more attractive work environment. A flexible work environment can offer employees a number of advantages, such as the ability to better balance work and life commitments. In addition, a
flexible work environment can lead to increased productivity and job satisfaction. There are a number of ways that companies can create a flexible work environment, such as offering a flexible work schedule, shift-based arrangement, or remote work arrangement. Creating a flexible work environment can have numerous benefits for both employees and employers.

Wellness Benefits

Health care is one of the biggest concerns and expenses for any company. A single employee can cost thousands of dollars, not including the cost of any sick days. Given this, it’s no surprise that wellness benefits are gaining popularity as an employee perk. Everything from yoga classes to weight-loss programs can be considered a wellness benefit. If you own a business that requires heavy lifting and manual labor, oxygen bars and reiki sessions probably don’t make much sense. However, wellness benefits can also include things like gym memberships and healthy snack programs. These types of benefits allow employees to take care of their own health and wellness, which ultimately results in lower healthcare costs for the company. For some industries, wellness benefits may be standard, but for others, they’re completely uncommon. This makes them a great way to set yourself apart from other companies, as well as make your employees feel valued.

Company Events and Activities

The best way to get to know your employees is to get them together outside of the office. Company events and activities provide your employees with an opportunity to socialize, form friendships, and strengthen their work relationships. Company events and activities can include anything from company happy hours, to team-building exercises, to annual company retreats. Depending on the type of work that your company does, there are plenty of options to consider. For example, if your company designs video games, you could host an annual video game tournament. Alternatively, if your employees are parents, you could throw a family-friendly party with a Halloween theme. For maximum impact, you should try to host at least one company event per quarter. Additionally, it’s a good idea to make company events accessible to all of your employees. This can be done by offering a company event calendar or creating an online event calendar.

Paid Time Off

Allowing your employees to take paid time off provides them with the freedom to rest and recharge. It can also be a great way to retain employees, as it lets them know that you value their health and well-being. A paid time off program can come with a few different stipulations. Some businesses choose to give employees 10 paid days off per year. Others offer a specific number of paid days off per year for every year of service. Depending on the type of business you run, paid time off can come in handy at various times of the year. For example, parents can use it to care for new babies. Employees can also use it to attend important family members’ doctor appointments and other significant events.

Opportunity for professional development

If you want your employees to grow with your company, you need to provide opportunities for professional development. This can include things like career coaching, skill-building workshops, and mentorship programs. Career coaching often takes place one-on-one, allowing your employees to focus on their goals while receiving personalized feedback and suggestions. You can also partner with a local university and offer discounted or free classes to your employees, which can make them feel a part of a community and help them gain skills they need to do their jobs better. Professional development also helps set your employees up for long-term success. This can also help reduce turnover, as employees who feel like they are growing and learning tend to be less likely to seek new opportunities elsewhere.

Conclusion

An attractive benefits package is crucial when looking to hire new employees. While it’s important to offer standard benefits like health insurance and retirement plans, it’s also crucial to offer more unconventional employee perks. Although these benefits won’t come cheap, they can greatly impact your ability to recruit top talent. If you’re looking to attract and retain the best employees, it’s important to offer the right benefits. While it’s impossible to offer every possible benefit, you can select a few that matter most to your employees.

Zealys is an HRMS software from Singapore designed to manage employee benefits and payroll with ease. With its automated payroll software, Zealys can lighten the load for HR teams and increase employee satisfaction. Speak to us at [email protected] to get started!

Unlock HR efficiency today

Take the complexity out of HR management – start your 14-day free trial now to experience a smarter way to handle HR processes

Let's get started

Your Information
Company Information
What is your company size?*
Which modules do you need?*
Additional Information
×

Need help? Chat with us!

× Welcome!