10 Best Employee Benefits for Enterprises
The lack of financial resources makes it impossible for small businesses to compete with larger corporations when it comes to offering the best employee benefits. Moreover, financial restrictions prevent the company from hunting and recruiting talented individuals who will stay loyal to the enterprise, and improve employee morale.
Offering the Best Employee Benefits
Even if you want to adopt the millennial mindset of offering the best employee benefits and presenting positive benefits outlook, your accounts might not give you permission for that. That said, there are several non-monetary advantages that you can offer to make your employees stay happier at your enterprise.
Parental leaves are the least that you can offer to your workers. Offering this benefit would expand your employee demographics to include single mothers, single fathers, as well as co-parents who just need a break. An example of this can be observed by looking at IKEA, which offers four months of parental leaves to its employees of any position.
Flexible Work Schedules
For a start-up, you need to hire individuals with a fresh perspective and understanding of the current generation. This means you need employees who can create relatable marketing content and products for the target audience. If your company offers a flexible work schedule, you can expand your search to hire passionate university students.
A free membership is one of the best employee benefits that countless companies offer. However, a developing enterprise may not have the budget to pay the gym membership fee of every worker in the company. Instead, a suitable and cost-effective alternative that can be introduced is the addition of an on-site gym. You can dedicate one room in your building to function as an employee fitness club. While the initial investment may be high, you will end up saving a lot in the long run.
Nap-pods play an important role in boosting employee productivity. They allow workers to take a break and refresh their minds before getting back to work. By adding nap-pods in your facility, you can motivate employees to recharge their brains by taking a twenty-minute power nap. Offering this benefit to your employees can allow your company to flourish.
Flexibility in timings can also extend to offering the workers multiple breaks. If you treat your employees compassionately, you’ll find that their productivity and loyalty to the company would increase. As a developing company, your focus should be on motivating the employees to get the work done. If they meet their deadlines in one hour or nine hours, it should not matter, as long as you are receiving quality work within the specified time frame.
Opportunities to Work Remotely
People want to work at companies that are understanding of their needs. The concept of working remotely bridges the gap between the company and the employee as the worker feels that the workplace understands their struggles. For instance, offering single mothers the opportunity to work remotely can improve your chances of hiring and retaining a talented employee at your firm.
Comfortable Work Environment
Today, companies have to advertise themselves as a friendly, collaborative and understanding firm that can cater to the individual needs of the employee. A developing enterprise can win the hearts of the workforce by providing a comfortable work environment for its workers. This can be done by:
- Adding bean bags or inflatable balls to make the seating comfortable at the office.
- Providing free lunch and snacks to the employees.
- Introducing a system of unlimited breaks allowing employees to recharge their minds.
- Encouraging a culture of communication and interaction between employees.
Giving Employee Discounts
A developing company can also provide employees with an advantage by offering them discounted deals on the company’s product or service. For instance, if you own a restaurant, you can offer your employees a 15% discount on the entire menu. This can motivate your workers to eat at your restaurant, which can ultimately be beneficial for you.
Nanny Services for Single Parents
Your company can also offer nanny services to single parents. You can implement this cost-effective benefit by introducing a daycare within your building. This would allow the parent to be close to their children without having to compromise on their work.
A developing company always has the opportunity to collaborate with other facilities that offer a certain product or service. You can work with companies that are looking to promote their products or services and offer your employees frequent discounts or coupons to avail of those services. This can serve as a mutual benefit to your organization as well as the other business. You can even provide them with a personal finance improving benefit, such as access to credit karma tax, to help employees.
Best Employee Benefits for the Win
Keeping your employees happy does not always require a ton of money. Every worker looks for different facilities in a job. As a start-up, it is your job to recognize the individual needs of your employees, and offer the best employee benefits that appeal to them.