5 Perks that you can offer your employees without breaking the bank

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5 Perks that you can offer your employees without breaking the bank

Startups and small businesses operating with small budgets often face difficulties in attracting employees. This is because unlike large corporations with a plethora of resources, small businesses do not have the resources to offer attractive benefits – especially financial ones – to lure in potential and skilful employees.

However, that does not mean that there aren’t any benefits that small businesses can offer to attract new employees. Since financial resources are often a constraint for startups and small businesses, you should look into offering non-monetary perks that can still help to make your workplace more attractive for existing and potential employees.

  • Flexible schedules –  This involves allowing your employees to set flexible work schedules or allowing them to work remotely. Apart from helping employees to achieve a healthy work-life balance, allowing them to set flexible schedules helps to showcase that you trust your employees and gain their trust in return through fostering healthy employee-employer relationships. In addition, offering your employees the opportunity to work remotely can also help to significantly improve their satisfaction and productivity by allowing them to work in an environment where they are most comfortable at.
  • Wellness benefits – By offering your employee wellness benefits such as free coffee/tea in the morning, counselling services, weekly yoga classes or even free gym memberships, you will be able to boost the morale of your employees. Plus, when your employees know that you have their wellbeing in mind, they are more likely to remain loyal to you and your organisation.
  • Employee recognition – This is a perfect way to show your appreciation to employees who put in an extra effort at work. Another way to make employees feel more recognised and valued is through making their rewards personal. For example, if an employee is a big fan of a particular sports team, you can get them tickets to a sporting event to show that you know and care about their personal life and interests.
  • Relaxed dress code – This a perk that is surprisingly easy to offer to your employees. Of course, how relaxed your dress code will depend on your industry and corporate culture. If you don’t want to fully commit to a relaxed dress code at first, you can first start off with something small like “casual Fridays”. Nevertheless, a relaxed dress code can help to create a relaxed work environment which can significantly help to attract new employees especially modern workers who value a non-corporate work environment.
  • Employee of the month –  When it comes to keeping your employees happy and satisfied, a little recognition can go a long way.  Showing appreciation to employees who have gone above and beyond to fulfil their duties and make the lives of their customers and colleagues easier can not only help to motivate that employee but also to encourage other employees to foster such behaviour in the future.

These little things can go a long way in fostering a friendly and pleasant working environment at your organisation and building your image as a good employer.