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7 Perks Small Business Owners Can Offer Their Employees

by on Aug 21, 2020, 10:19 AM

7 Perks Small Business Owners Can Offer Their Employees

Most small businesses have smaller budgets than their corporate counterparts. They cannot compete with the perks that bigger companies give their employees. Since small businesses may be unable to award their employees with large salaries, they can use employee perks to boost their morale and improve their retention rates. Keep reading to learn about some employee perks for small business.

1. Flexible Work Hours

One of the best small business benefits to employees is flexible working hours. It makes it possible to find a work-life balance and may improve productivity. Small businesses, rather than bigger ones, may be in a better position to offer flexible working hours. Consider providing your employees with tailored work schedules. If, for example, they have children, they should be able to leave early to pick them up from child care. Giving employees some flexibility can be just as rewarding as saving them commute time.

2. Encourage Remote Working

Allowing your employees to work from home is a great idea and it may be beneficial for both the employees and the business. Allowing employees to work from home may help them save money and time. Working from home improves productivity and may have plenty of mental benefits. The best employees can do a good job even when out of your sight.

3. Fur Family Days

The ability to bring pets to work is something that most employees will appreciate. Fur parents will always appreciate the opportunity to save on pet care costs. Having their pets close will put them at ease and may boost productivity. While it may be impossible to make this a part of your general policy, consider making one day of the week a “bring your pet to work” day.

4. Empathy and Support

Understanding the needs of your employees may be the first step toward creating a better workplace for them. Ask about the challenges they face at work and what you could do to improve them. Your employees may be facing challenges such as long working hours or low pay. They may also be going through personal issues such as long commutes and family responsibilities. Understanding the individual challenges of employees can help you build better connections with them. It may also improve their loyalty to your company.

5. Team Appeal

Having a job is one thing but feeling like a part of a team can be even better. Making your employees feel like part of a team can improve their loyalty to your business and improve their productivity. Most small businesses have few employees so making everyone feel included is not difficult. If employees feel what they are doing affects the rest of the team, they may be motivated to do more.

6. Training and Development

Talented employees are always looking for a way to get better at their jobs. They seek out opportunities to learn and acquire new skills. Consider providing your employees with development programs and in-house training. If your employees are interested in specific programs, consider helping them pay for part of the cost.

7. Offer Financial Wellness Tools

If you’re looking to offer an invaluable — but affordable — tool for your employees that can help better manage their finances, consider offering a tool like ScoreMaster. By using a gamified dashboard, ScoreMaster can help users achieve their best possible credit score and get their dream apartment, car or loan. It’s not just a unique perk that can help attract and retain talent — when your employees have better finances, they’ll be less stressed in the workplace. Learn more about how you can incorporate ScoreMaster into your list of employee perks today.

*Legal Disclaimer – ScoreMaster is a patent-pending educational feature simulating credit utilization’s effect on credit scores via payments or spending. Your results may vary and are not guaranteed.

References:

  1. https://www.forbes.com/sites/brockblake/2015/02/24/21-employee-perks-that-attract-the-best-talent/#358ca086114e
  2. https://www.huffpost.com/entry/5-best-company-perks_n_59dcf805e4b094496e59be05