Business owners must provide dynamic employee benefits to support employee retention. Employees no longer make employment decisions based solely on salary; they look for companies that offer an employment package that recognizes their value.
Unfortunately, many business owners limit their benefits to traditional options, such as health insurance, personal time off, and retirement benefits. Take the time to review your offerings and incorporate these lower-cost options into your benefits package.
Offer Nutritional Supplements
As a manager, one of your more valuable assets is the intelligence and creativity of your team members. Protect that asset by investing in brain health supplements for your staff. A trusted supplement can help your team remain focused on their daily activities.
In addition, affiliate members can open an online store to sell these products, providing you with an additional revenue stream. This revenue provides a source of passive income and supports your company’s cash flow.
Build a Team
Team Building is more than individuals working together toward a common goal. Create unity by designing challenges or activities around special days. Some activities you can do include:
- Start a basketball tournament in early spring.
- Encourage team members to wear your city’s sports team’s colors during the first day of the season.
- Schedule a Friday afternoon where employees can dress up as their favorite movie character. Close the office early to watch a classic or cult movie – don’t forget the popcorn.
- Shave your head or sleep on a roof if specific business goals are met.
Support Emotional Health
Personal situations may impact an employee’s ability to focus. Medical, emotional, and financial concerns take a significant portion of their brain activity. Team members can experience physical symptoms that increase the PTO they take.
An Employee Assistance Program helps employees with their mental health. In addition to an EAP, you can actively encourage self-care by offering yoga classes, building a sensory room, or establishing a pet-friendly office.
Create Fitness Challenges
Activity encourages teamwork and reduces time lost due to illness. Encourage employees to move by creating a fitness challenge, such as a walking program. Recruit employees and set walking goals.
When a team member completes a tier in the challenge, you can reward them with a fitness-related item, such as running socks, fitness trackers, or a gift certificate to a local running shoe store.
Schedule Team Lunches
Company and team lunches are a great way to build camaraderie. These are not working lunches. Encourage everyone to leave their desks and enjoy lunch with a colleague. Make sure you have adequate space in the employee lunch room.
In addition, invest in a few picnic tables to encourage staff members to eat outside to enjoy the benefits of nature.
Encourage Educational Goals
Tuition reimbursement is a fantastic way to encourage employees to extend their education. Not only do you receive a tax benefit, but you also reduce recruiting costs. One study found that you save, on average, almost $1.30 for every $1.00 you spend on tuition reimbursement.
There are several qualitative benefits, too. Employees are more likely to remain committed to your organization. Increased education helps staff members become more creative problem-solvers.
Make a Flexible Schedule
Flexible scheduling helps employees prioritize their work-life balance.
It also limits the number of PTO days used to attend doctors’ appointments, school activities, and mental health days. There are several ways you can implement flex time based on your company’s needs, including:
- Allow remote work at least one day a week.
- Offering four-day work weeks during seasonal sales declines.
- Establishing unlimited PTO within your organization.
Offset Commuting Costs
Rising transportation costs impact an employee’s budget. There are numerous ways to help employees get to the office for less.
Provide gift cards to a local gas station monthly to each employee. Work with the local parking garage to pay for some or a portion of the parking fees. If employees take public transportation, give them prepaid gift cards to help them offset ticket fees.
When you create a robust benefits package, employees are more likely to encourage others to apply for jobs.
Your business will be recognized as a dynamic leader in the industry.