Employees have always put a value on the benefits that prospective employers can offer, though smaller firms may feel they just cannot compete with the big corporations when it comes to company perks.
Facebook is now paying up to $20,000 to its female staff to undergo egg freezing while Google is handing out free bikes, reflecting its carbon emission agenda. It’s also offering giant helter-skelter rides, though this may not be top of many lists of must-have perks. Nap rooms, however, sound quite cool.
Providing the benefits that meet the demands of all employees can be a tricky balance. For example someone in middle age might be more concerned with financial benefits, whereas younger workers may value more personal wellbeing benefits such as professional development.
With such cosy comforts on offer from big corporations many of those running small businesses can be left feeling that they might lose out on talented staff. Even having an employee off on holiday can put a micro-business under pressure.
However, while some employees will be attracted to the more unusual and often extravagant perks there are some more conventional and affordable benefits that are highly valued.
This is good news for small business owners as it’s likely they’ll have invested a lot of time and money into hiring and building the skills, knowledge and experience of the people in the business so it’s important that they’re able to take care of their people. By doing so it can help keep everyone productive and motivated.
Businesses that show they care can also gain recognition from their own employees for their efforts. Internal awards are a way of making staff feel valued and are a way to motivate them and improve productivity. A classic win-win for employer and employee.
It’s also beneficial to have a healthy staff – stressed-out staff operating in poor conditions will do nothing for morale or the company’s bottom line.
Dr Chris Tomkins, chief operating officer – proactive health at AXA PPP healthcare says: “A healthy and engaged team is key to any productive and successful small business.
“Taking a proactive interest in your employees’ health and wellbeing is essential.”
Here’s a handy guide to the most wanted and easiest benefits to offer employees: