Why do some companies thrive and others take a dive?
Why do companies like Google receive thousands of resumes from job seeking applicants each year, while other companies struggle to bring in top talent and decent employees and then see high turnover?
One of the keys could be in the benefits that your company offers their staff, and not just health insurance coverage.
Your people are your top asset so treating them well, giving them a bit of freedom and flexibility and appreciating them will go a long way in terms of employee retention, money saved on initial employee training, respect for management and so much more.
The best part is that most of these suggestions don’t have to cost your company any $$$.
Here are 6 Employee Benefits Every Employer Should Provide to their Staff:
(1) Flexible work hours and the ability to work from home – Rather than micro managing your employees, a more effective strategy is to loosen the rope and allow them to manage their own time. If they get the work done on time, great. If not, then you can pull that employee aside or even consider letting them go if they are not completing their tasks on time consistently.
(2) Maternity & Paternity Leave – If you truly value your staff, allow them to spend time with their new child. Consider extending this policy to a parent adopting a child as wel.
(3) An Open Door Policy – Having an open door policy for HR and other work professionals ensures that staff can come by when they need something and it sends the message “We’re listening. We care.”
(4) Amenities & Extra Services – Depending on the size of your company, consider bringing in outside services like massage, chair massage, manicures and pedicures, acupuncture and so much more. Before your jaw hits the floor as you see dollar signs, these actually don’t have to cost your company a dime – the services are either covered by their health benefits OR staff members pay on their own. If your company is very large and several employees will be using the service, you might consider asking the provider for a group discount.
(5) Take Time to Acknowledge the Small Things – Doing things like sending a staff member a birthday card on their birthday or giving them a Starbucks gift card for a task well done doesn’t have to cost much money ($5 or $10 is sufficient) and will go a long way in helping that employee to feel appreciated. Employees who feel appreciated tend to stay longer in their jobs, leading to reduced staff turnover. Personalize these small tokens of appreciation as much as you can. Opening a gift that makes that employee feel truly valued is always more powerful than giving them a generic gift that is the same for everyone. Also, get to know each of your employees names, ask them how the kids are doing the next time you see them, compliment them on a job well done and more. These are small things you can do that will result in a positive shift at work.
(6) Help your Staff Reduce Stress – Work, kids, commuting, aging parents…all of these factors and more can lead to a build up of stress. And stress can often mean declining performance from your staff. Many will leave their jobs if you don’t give them an outlet to help manage their stress.
Consider starting a Corporate Yoga class at your workplace or introducing your staff to meditation. No space? Many companies offer Chair Yoga or Chair Meditation, which only requires the chair you’re already sitting on. These programs are usually less than $10 per person for an hour long group session but can also be entirely paid for by employees. And even if they are staff paid, your company will reap the many benefits of less stress – higher productivity, fewer sick days, happier staff who like their jobs, better posture, less back pain and so much more.