In today's society, attracting and retaining key employees is essential for your business. Offering a good range of benefits is key to setting your business apart from the rest. Cost free benefits are something to easily add to your benefits package ensuring your company stands out from the competition. Younger generations are used to having purchasing power, and in a millennial age of consumerism offering flexible benefits gives them this.
Use the following benefits to construct a low cost or cost free package for your organisation.
1. Flexible Hours:
This is a great benefit to offer, as it doesn't cost you the employer anything but it really appeals to employees. If it fits your company, offering flexible hours will increase employee productivity, as they are working when they are most productive. It improves work life balance and promotes well-being which are now very popular to offer.
Natalie Pancheri, HR Policy Adviser at the London School of Economics suggests ‘The benefits of flexible working are well established, from increased employee engagement to better performance.’
2. Work From home (Remote Working Days):
Offering a work from home option even a couple of days a week is a great way of increasing productivity and wellbeing within your workplace. This appeals to employees as it means they don't have to commute in, saving them time and preventing unnecessary stress. This also means that you have a greater choice of key talent; if an employee is able to work remotely you can employ them from further afield meaning that you have a greater pick of candidates.
3. Fully Stocked kitchen
This benefit is so easy to maintain at little cost to you the employer but it can have huge benefits to your workforce and company with a recent study by staples showing‘73% of office workers said a well-stocked kitchen would make them happier at work, with 57% indicating that it could lead to increased productivity.’ This benefit offers a communal area for employees to meet, take breaks, and stay fuelled. It is worth considering offering healthy and vegan options to acknowledge current health trends.
Wellbeing is a very big topic at the moment across media and news, and it's something you should be taking into consideration in your benefits, especially as they can be easily provided cost free to your employees. Here are some you can offer:
- Regular Breaks
- Team Building
- Wellness Days
- Flexible Holiday
Fitness, like wellbeing, is a big topic at the moment and an area that you can offer cost free and low cost popular benefits in. Some ideas for your company are:
- Encourage Walking or cycling to work.
- Provide monthly fitness sessions or activities.
- Providing Showers at Work.
- Discounted local gym membership.
6. Discounts from Local Stores
Benefits not just your employees but also local businesses by taking just a little bit of time you can visit local businesses and ask what discount they may be able to offer your employees. This will encourage your staff to shop local and support business, whilst benefiting from reduced cost.
7. No Dress Code
This promotes comfort, creativity, and individuality. Having a uniform or dress code can be expensive for employees if they have to fund it, or expensive to you if you are providing it. If it isn't essential for your employees to wear a uniform at work consider offering a no dress code policy, that will make your staff feel comfortable and productive.
8. Flexible Benefits
These are benefits that the employees chose to meet their own interests. You provide a variety of benefits which they can choose from. You then don't waste any money on giving benefits which do not appeal to your employees. For further information on how these work and their benefits you can read our full article here
9. Acknowledge significant others
When your employees have to stay late at work, or have to take work home, it is their significant others who are also affected. Offering benefits which include them is a great way of showing your employees that you really care about them. For example offering a Will that protects the family if something unexpected were to happen. This provides assurance and shows that you are going the extra mile for your employees and their families.
10. Special Interest clubs
By opening up your company to educational companies and charities, you can provide employees with skills related to your industry, or to improve essential skills. These are a great social offering and also aid in wellbeing. You could offer sessions in areas such as public speaking, team working, or creative skills such as craft and art. Employees could use these to help improve their work environment. According to the University of Exeter
“Employees who have control over the layout of their workspace are not only happier and healthier — they’re also up to 32% more productive.”
Using these cost free benefits is a great way to make your company attractive to key employees whether you are a small company or a larger one looking to expand your corporate benefit offering.
If you are interested in offering a will as part of your benefit package feel free to contact us to discuss how we can help enhance your benefit offering.