We have another awesome guest post to share, Guide to Innovative Employee Benefits to Consider for Your Small Business, by Sarah Bull from Economy Mom this week. Thank you for providing this great article for us!! We really enjoyed it and appreciate the time you took for us!!
The Great Resignation profoundly impacts the U.S. workforce, and H.R. leaders seek realistic ways to attract and retain top talent. Most people entering the workforce already expect traditional benefits like health insurance and employer-matched retirement plans.
But what else can your company offer to current and potential team members? How can you make your business a better place to work? Below, Living 4 You Boutique discusses some innovative employee benefits to consider as you grow your company!
*Note: This post contains affiliate links, so we may earn a small commission when you make a purchase through links on our site at no additional cost to you.
GUIDE TO INNOVATIVE EMPLOYEE BENEFITS
TO CONSIDER FOR YOUR SMALL BUSINESS
Image via Pexels
More Time Off
Unlimited paid time off (PTO) has become has become a trendy benefit that many newcomers expect. However, some employers are hesitant to offer this benefit out of fear that their employees will abuse it and not be on the job when needed. With that said, PTO can significantly boost employee morale and productivity, which can benefit virtually every area of your business.
Your company may already be offering paid maternity and paternity leave, but if you want to get innovative, start giving paid leave for miscarriages. A miscarriage can take an emotional and physical toll.
Therefore, allowing paid time off to women on your team who have experienced this trauma could help them heal while also ensuring they remain happy and productive upon their return. This is also a benefit that could help you attract talented women to your workforce.
Send Them to Events
As you figure out what new benefits to offer your employees, it could help to think out of the box. Or, in this case, out of the office! Consider paying for your team members to enjoy events unrelated to work. For example, you could provide them tickets for the NY Yankees.
Some websites allow you to buy discounted tickets in bulk, meaning you could save money while purchasing tickets for your entire team. Maybe you could strike gold by finding tickets to see the Yankees play the Milwaukee Brewers! And you will have regular games and spring training to choose from.
Early Pay
Many employees who experience a financial emergency cannot make ends meet without taking on a high-interest payday loan or another type of costly financial assistance. To help your team members maintain financial health, consider offering on-demand pay, meaning you partner with a third-party platform to grant employees access to earned money before the predetermined payday.
Accounting software companies are developing technology to keep up with this trending benefit. Still, if your company can afford to offer this now, it could significantly benefit your pursuit of attracting or retaining workers.
Wellness Coaching
Employee wellness is crucial these days, and most businesses offer wellness benefits to some degree or another. Think about how you can improve your wellness benefits by helping your employees foster their mental and physical health.
Maybe that means paying for counseling or therapy services. Perhaps you could create an on-site gym or provide free memberships to a nearby fitness center. Perhaps it means giving your team members access to nutritional videos or stocking the vending machine with healthy snacks.
Another thing to consider offering is financial coaching, student loan assistance, or financial planning services. Think of ways to go beyond the conventional retirement plan to help your employees achieve sound financial management.
Don’t Forget the Extra Perks
Finally, consider any extra benefits you can throw into the mix to attract top talent to your company. Maybe you could hold a monthly or yearly drawing in your office that awards the winners with gift cards to local establishments. Perhaps you could institute a weekly casual dress code day or bring-your-pet-to-work day. You could offer countless perks that would come with minimal costs to your business and significant benefits to your team morale.
Today, it’s essential to determine how to go the extra mile to attract and retain talent. Consider the innovative employee benefits above to determine if any (or all) could work for your company. And keep researching industry trends and thinking outside of the box to figure out how to make your business an even better place to work.
Looking for other great articles Sarah wrote for us? Take a look below.
How to Stay Connected with Loved Ones Through Tech and Gifts
6 Ways to Be Authentically You This Year
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