When the job market is hot, companies need to pull out all the stops to retain and recruit employees. Salary isn't everything — benefits can also make your company an attractive place to work. To meet the needs of a modern workforce, you might need to get creative. HBL Resources Inc. presents these tips to help you keep your employees satisfied.
Education and Training
If your company has the budget, offer to pay for continuing education. You'll help employees build valuable skills that benefit your company — plus, the new challenges help them stay engaged and inspired. When you invest in education, it shows workers that you care about their careers. In addition to in-person courses, consider offering online programs, so your team members can set their own pace.
To keep costs in check, you might decide to contribute to classes that are directly related to an employee's job. Simply ask the person to make a case for their chosen program. How will the skills they gain improve their performance or capabilities at work?
Health and Well-Being
Your employees' mental and physical health might seem like none of your business, but it can actually have a big impact on your bottom line. Physically healthy people are less likely to take sick days; they're also cheaper to insure. When your workers are in good mental health, they're happier, less stressed, and more productive. Benefits that can support employee well-being include:
Discounted gym memberships
In-office yoga or fitness classes
On-site workout room
Access to a counselor
Sometimes, employees simply need a bit of flexibility to balance their personal and professional lives. You can support them by offering flex-time — that way, they can attend to appointments or family needs without feeling guilty.
Create a fun place to work with benefits that improve your facilities and company culture. Some creative options include:
Alternative workspace with sofas and lounge chairs
Free snacks or meals
Lunchtime presenter series
Student Loan Assistance
Nearly one in eight Americans owe money on student loans. If your company can shoulder the financial burden, student loan assistance can be a valuable benefit. For example, if one of your workers wants to earn their MBA, encourage them to enroll in online classes that allow them to tailor courses to their work schedule. Then, offer to help them with tuition. You might offer a monthly stipend, a percentage of the principal, a yearly lump sum, or a payment-matching plan. Many businesses offer these benefits after an employee has been with the company for a certain amount of time.
Strong, friendly relationships between your employees can lead to better collaboration and innovation. Some benefits that help workers get to know each other are:
After-work cocktail hour
If possible, invite partners or families to participate in some of the events. A wider group of attendees adds an element of excitement and builds social bonds.
Why Do Benefits Matter?
A well-rounded set of benefits is an easy way to let employees know that you value them as people and professionals — you care about their well-being, career plans, and job satisfaction. Non-traditional benefits are wonderful, but don't forget these options:
Subsidized child care
Paid time off
Dental and vision coverage
Option to work remotely
Parental and caregiver leave
Establish Innovative Employee Benefits
Creative benefits are a great way to meet employees' true needs. By finding the perks that delight your team, you can reduce turnover and improve morale. And if you need assistance with HR-related matters or training, get in touch with the pros at HBL Resources Inc.