Employee morale directly affects your company’s output. That’s why businesses are finding new ways to attract and retain happy staffers. Check out this article for a few ideas of low-cost ways to boost employee satisfaction.
When you’re starting a company, employee benefits are likely the last thing on your mind. You want to attract top talent and offer a competitive salary, sure. However, figuring out how to raise funds to afford hiring the best people is your main priority. As the company grows, employee retention and motivation become increasingly important. A low budget may not allow you to shower your staff with high-dollar bonuses or expensive benefits, but you can still make a difference by getting creative and finding out what they crave most.
The good news? Some of today’s most sought-after employee perks are fairly affordable. More importantly, even low-cost options can boost employee satisfaction and help you compete for talent in today’s cutthroat job market. Here are a few ideas of benefits worth considering if you’re looking to keep staffers happy and productive.
1. Flexible Work Arrangements
Millennials will become the majority in the workforce next year, and they are known to value flexibility. Additionally, freelancing and self-employment are still on the rise. Working on a 9 to 5 basis may soon become a thing of the past. Workers are more interested than ever in maintaining a healthy work/life balance; supporting their efforts can go a long way when it comes to ensuring their loyalty.
Some companies go as far as allowing staff to take as much time off as they please. If you’re skeptical about this approach, start slow. Allow employees to work remotely one or two days per week, as a reward for a major accomplishment or as an incentive after a positive performance review. The risks associated with remote work are minimal. You just have to make sure that staffers have access to all the tools necessary to work effectively and that remote connections are secure. Proxy Networks ( www.proxynetworks.com ), a leading provider of remote desktop software, developed a handy guide to help companies ensure remote access security across the enterprise. Download it here.
2. Informal Dress Code
Having a certain dress code can get stressful for employees. Consider making business attire optional for staffers who don’t deal directly with clients or business partners. The workplace atmosphere will instantly become more enjoyable and relaxed.
Promoting Casual Fridays can also be a good idea. As a bonus, you will get a better sense of who truly understands the company culture. For instance, when an employee shows up at the office in shorts when they are required to attend an important meeting, they may not be truly invested in putting their best foot forward.
Your employees have many milestones to celebrate – birthdays, engagements, or babies being born. Be there for them. Encourage staff to organize a small gathering whenever there’s a reason to celebrate and offer to cover the cost of snacks. Don’t forget to about important company milestones as well, like anniversaries. Achievements like landing a big client or wining an award should also be properly commemorated. Useful tip: pizza parties are always welcomed. Here are some additional celebration ideas to get you inspired.
Paying for the entire staff’s lunch order can easily drain your budget. Offering them a breakfast spread a couple of times per week is less costly and just as effective when it comes to boosting employee morale. Staffers can get together, socialize, and enjoy a tasty cup of coffee before jump-starting their workday. Think donuts, bagels, and sandwiches. Everyone loves free food.
5. Fitness Stipends
You don’t have to go as far as to open an on-site gym to keep staff happy. However, you can give employees a monthly stipend to pay for gym memberships, yoga sessions, or other fitness classes. Alternatively, you can hire an instructor to organize classes in-house.
This goes a long way towards building an employee-friendly workplace culture, since it supports your staffers’ efforts to stay healthy even with a demanding work schedule. Plus, keep in mind that healthy employees take fewer sick days. This investment may actually end up saving you cash in the long run.
6. Commuter Benefits
Some of your workers may spend serious money on transportation to and from work. Help them cover these expenses by providing a monthly transportation stipend. Also, encourage employees to carpool, use public transportation, or bike to work in order to lower their transportation costs.
Employee benefits help you enhance individual effort and, in some cases, promote team building and collaboration. Ultimately though, every workplace is different. Talk to your employees and find out what’s important to them. This way, you can come up with a tailored benefits’ package that will improve employee retention and promote a more positive atmosphere at the office.