Small business owners often have a tough time retaining employees. While some employees are satisfied with working with a company that treats them like family and allows them to grow, others want better salaries and more perks. Small business owners often trouble offering competitive salaries while they are waiting for their business to lift off and deliver profits. So what is the next best thing that they can offer? Affordable, yet effective perks that can make employees happy.
Studies have proven that happy and satisfied employees are more effective and productive than unsatisfied ones. So here are 5 effective employee perks for small business owners to improve employee morale and performance.
- Organize Free Team Lunches Once a Month– Who doesn’t love free food? Organize a lunch once a month for your employees. Such occasions gives all of you, employees and employers, a chance to interact with each other, get to know each other better, relax together and builds team spirit; something that is very important for the success of a company, as much as small business bookkeeping.
- Get Your Employees Smartphones– This perk is not as expensive as you fear; there are numerous service providers with special plans for small businesses on the purchase of a smartphone contract. Good small business bookkeeping can help you find a way to make this happen. Offering smartphones to your employees not only makes them happy, but also gives you a means to contact them when needed. You can also install apps that are relevant to their roles so that they can work on the go if needed.
- Provide Employees with an Option to Work from Home– When you let your employees work from home, you tell them that you trust them. Plus it is probably the cheapest perk you can offer. Working from home means no commuting, no rushing through chores in the morning, thereby giving you less stressed and happier employees. You can offer good employees an option to work from home 1-2 days a week and also allow them to choose the days. What do you have to lose? Instead you gain your employees’ respect and more productive, efficient employees.
- Flexible Days Off and Vacation Time– Be flexible with your employees’ days off and their vacation time. Don’t be stingy with their personal days. Doing otherwise is a sure shot way to lose employees by the dozen.
- Offer Full Health Insurance Benefits– As an employer, this is the best thing you can do for your employees and will earn you their loyalty. I know that most small business owners feel that this is an expensive perk, but there are a number of reasonably priced plans available on small business networks.