Keeping good employees is essential to running a successful company—but a good worker isn’t just going to hang around forever without reasons to stay. This is where benefits and perks come into play.
It’s in your company’s best interest to keep good employees because the cost of onboarding a new employee is extremely high—and your company could suffer during the time it takes to fill a crucial role. Plus, if a senior level employee within the company leaves, you’re not only losing a long-term employee, you’re losing a wealth of knowledge. To avoid a high employee turnover, your company should provide legitimate value to their lives—beyond just the four walls of their office.
Here are some of the best perks you can offer to your employees that will encourage them to stay at the company for years to come:
Health Insurance & Wellness Programs
In a Glassdoor survey, 40% of respondents said they view health insurance as more important than a pay raise. That makes perfect sense given the astronomical prices of healthcare. Not to mention, buying private health insurance can be a complicated process to navigate on your own. It’s significantly easier and cheaper to get healthcare from an employer.
Another positive to providing health insurance is that low cost or free preventative care means less illness and missed days of work.
You can also offer your employees the opportunity to participate in a wellness program. You could provide FitBits or other activity trackers to encourage employees to stay active during the day. Or host yoga classes during lunch hour or provide workers with standing desk options.
Vacation/Paid Time Off
Employees need breaks. Even your most productive, hardest working employee sometimes requires a breather to rest and recharge. By providing vacation and paid time off, you’re giving your staff a reward for their hard work.
They will come back from their well-earned PTO ready and enthusiastic to get back to work.
Paid Sick Days
Another necessary benefit and major draw for applicants looking to join your company is paid sick leave. Paid sick days give employees peace of mind so even if they’re out sick, they’re still being paid. Unfortunately, illness can’t be predicted so it’s inevitable that it will happen.
Make sure that you reward good employees and celebrate their achievements. Celebrate an employee who has been with the company for ten years with a party, for example. Throw amazing holiday parties by using a corporate event planning company to go all out with free food, drinks, and fun activities.
Give employees small birthday presents or surprise them with a day of extra PTO if they met a performance goal. Sure, you can also just hand out bonuses at the end of the year but showing some thought behind monetary awards can mean so much more.
A pension or 401(k) is another fundamental benefit to offer in the competitive recruitment world. If a potential employee is considering two different jobs, he or she will most likely be swayed by the one with the best benefits. And a 401(k) shows you value your employees as well as their future.
If your company can manage it, remote working opportunities can be a great way to help your staff achieve a better work-life balance. This scheduling system allows those with children or other obligations to work at the times when they’re most productive. Just because the schedule is 9:00 AM to 5:00 PM doesn’t mean that your employees are most productive during those hours.
Some people work better in the morning while others find their creative streak at night – others might even find they work better in two blocks of 4 hours. Flex scheduling is a great way to keep employees happy.
Snacks, dog-friendly days, or catered lunches are great ways to keep your employees engaged during the day. Your employees are spending a good portion of their day at work, so creating an environment they’re happy to be in is critical.
Keep Employees Happy for a Better Business
Your business or company is only as good as your employees, so make sure you treat them with kindness and respect. Create a healthy office culture, meet their basic needs, and celebrate their achievements. With these steps, you’ll be on your way to creating a company no employee will want to leave.