Unusual Benefits a Small Business Can Offer to Improve Retention
Hiring and Employee Retention are two of the most important aspects of running a successful small business. One of the keys to hiring and retaining top talent is by offering benefits and incentives that go beyond just the typical salary and healthcare packages offered by many small businesses. Here are six examples that we have seen clients of Innovative Outsourcing us to keep employees happy, engaged, and loyal.
1. $100/month to Gym Membership
Offering a monthly stipend for a gym membership is a great way to promote health and wellness among your employees. This benefit not only shows that you care about your employees’ well-being but also encourages a healthy lifestyle.
2. Mental Health Care
Providing access to mental health care resources can be an important retention lever, especially in a world where mental health is increasingly important. Offering employees that the employer will pay for the first three visits for example. Or providing them resources like a mental health help line. This will help ensure that your people are taking care of their mental health, which in turn can lead to increased productivity and engagement at work.
3. Financial Counseling
Providing access to financial counseling can help your employees manage their finances more effectively. This can include services such as budgeting advice, debt management, and retirement planning. When employees feel financially secure, they are more likely to be happy and engaged at work. It also shows that you are taking care of them!
4. Volunteer Days Off
Many employees are looking for ways to give back to their communities. By offering volunteer days off, you are not only providing an opportunity for employees to do good but also showing that you care about their interests and passions.
5. Giving Profit Percentage to Non-Profit
Consider donating a percentage of your company’s profits to a non-profit organization that aligns with your company’s values. This can not only benefit the non-profit but also show your employees that you are committed to making a positive impact in the world, which is especially important to millennials and Gen Z.
6. Yoga/Workout Classes at the Office on Wednesdays
This one might seem crazy and I get that. However, offering yoga classes or workout classes at the office can be a great way to promote wellness and relaxation among your employees. Yoga has been shown to reduce stress and increase productivity, making it a win-win for both your employees and your company.
In conclusion, offering unique retention levers can help you keep your top talent engaged and loyal. Whether it’s through promoting health and wellness, offering financial counseling, or providing opportunities for employees to give back to their communities, these benefits show your employees that you care about them as individuals and not just as employees.