Recruit Great Employees with Low Cost Benefits

You can recruit great employees with low cost benefits that help you grab and retain team members who will contribute the most and enjoy working for your company.

You can rely on affordable benefits that employees like to help you catch and keep the best team members who will contribute to the team effort you need.

Recruit Great Employees with Low Cost Benefits They Like

Recruit Employees with Low Cost Benefits They Like

Low Cost Benefits That Employees Love

In today’s competitive work force, it seems there is a constant battle between employers saving money on human resource expenses and employees feeling appreciated and cared for by their employers. Over the last 10 years employee benefits in general have steadily decreased, and with it – employee loyalty.

Businesses are now learning the hard lesson that earning the loyalty of and retaining talented workers’ is by far more profitable than cutting back on the cost of benefits, perks, and other compensation. Google founders “Brin and Page know the formula: More benefits means happier employees, happier employees means more company loyalty, and more company loyalty means increased profits.”

Increasing benefits doesn’t necessarily mean increasing expenses, but every dime you invest into caring for your workforce you will see come back 10 fold in profit. You can recruit great employees with affordable benefits that employees like.

Sections following show few categories in which you can offer benefits at little to no cost to your company.

Fitness

With more than 30% of American’s listed as overweight or obese, encouraging your employees to get outside or get to the gym may seem like a chore. Depending on the size and budget of your organization, here are a few options:

  • Install an on-site gym
  • Negotiate discounted memberships at a local gym
  • Pay in full for a local gym membership for all staff
  • Organize and sponsor your staff in a sports league (soccer, kickball, flag football)
  • Offer reimbursements for health related purchases- chiropractic care, new running shoes, yoga classes, etc.

Research proves time and again that regular exercise significantly decreases a person’s chance of developing an illness, including any number of chronic conditions (cancer, diabetes, osteoporosis, dementia, depression, SAD). One company in Minnesota offers to pay entirely for it’s employee’s gym memberships and discount their share of their bi-monthly health insurance contribution if they use it at least 10 times a month – a small motivator to encourage active participation and not waste money.

By encouraging your employees to exercise, you will develop a healthier and happier staff, meaning fewer sick days, less missed profit from being short staffed, and less turnover from unhappy employees! And a team sport can be a great way to get active together and build team morale!

Work Life Balance

The generations coming into the workforce now and in recent years aren’t interested in the Monday through Friday, dawn till dusk, work till you’re dead standard. Singles and families want more time to spend “quality time” together, spend less on daycare, and more time to enjoy the sunshine and outdoors. The options here are easy to implement, easy to regulate (if you set the expectation from the start), and low to no cost to the employer:

  • Flex Time – identify core business hours (i.e. 10-3) and let employees choose to work a varied schedule around that time to meet their 40 hours, production goals, and other family or personal obligations (e.g. coaching spring sports, kids out of school early).
  • PTO choices for sick vs. vacation vs. family emergency
  • Summer hours – leave early most Fridays in the summer!
  • Longer parental leave- the US has the shortest leave times in the world. Set the standard for your company and be one of the best!
  • Optional Telecommuting – great for working parents to spend more time with family, or to avoid wasting 2 hours of their day sitting in traffic. Sometimes working in your pj bottoms all day can be a huge treat! Employees can also work from home while sick if they are feeling well enough, but will avoid sharing their germs with the rest of the office! Win all around!
  • Free vacation day (not out of earned PTO days) on or near their birthday every year after 1 year of employment

Employee Appreciation

Top companies know that making sure employees feel appreciated is the number one way to boost employee morale. You will receive only the sales, production, and desired behaviors from employees that you reward. It doesn’t have to be big, and it doesn’t have to be expensive, but it has to make the employee feel recognized and appreciated. “Studies consistently show that “feeling appreciated” is a key reason employees stick around.”

Regularly demonstrating your appreciation for employees as individuals and as a team will decrease your turnover, increase production, and ultimately increase profit. Here are a few easy ways:

  • Buy your office lunch once a week
  • Loosen dress code for a day for hitting certain goals (jeans and no ties!)
  • Fully stocked kitchen with fruit, snacks, and coffee fixings
  • Referral programs – if they refer a new hire, cash reward
  • oor prizes at staff meeting
  • Weekly recognition of team members hitting certain goals while in staff meetings

Two more great and easy to put in place perks are offering direct deposit and an employee-shopping advance.

For younger generations coming in to the work force, it can be an expensive challenge to build an appropriate wardrobe. Partner with a business wear store or department store (or both!) to offer a pre-paid or credit card for employees to shop with, then deduct the cost of the card from each of 5 paychecks – effectively allowing your employees to dress appropriately and at a pace they can afford.

Existing employees too can benefit from being able to refresh their wardrobe with the cost being deducted from their checks.

Implementing a great benefits package is easy. Ensuring your employees see the benefit – also easy! Benefits “packets” are often long and boring to read, especially if they include the medical info.

Still hand them out, but have HR or benefits rep send someone down periodically to tell new and existing employees about the benefits and how to use benefits website. With very little cash outlay and demonstrating to your employees that you care about them, you will see a huge return on your investment in benefits.

Recruit Great Employees with Low Cost Benefits – References

Jacki Neal
Jacki loves solving the worlds issues over lunch with industry professionals. She is a self proclaimed non- recovering technology junkie and Diet Coke addict. As the owner of an INC 500/5000 Staffing and Placement firm since 1997, she has helped her clients grow by locating Top Talent to join their teams. She has been known to totally blow the Peak marketing budget by 'grabbing' a bus and taking 75 clients and employees to see Jimmy Buffett. Funny, how relationships change when you see executives in grass skirts.
Jacki Neal
Jacki Neal
Jacki Neal

Latest posts by Jacki Neal (see all)

Peak Resource Group • 410 Peachtree Parkway • Suite 4245 • Cumming, GA 30041
Email: sales@peak-resource.com • Phone: 770-888-1659

Copyright © 2009-2012 Peak Resource Group. All rights reserved. Site by Bruce Brownlee Company