Keeping Your Employees Happy: Employee Benefits and Perks
Employees can make or break a company. You've heard the expression "good help is hard to find" and since this is true, as a business owner you want to do everything in your power to find and keep those gems. Thankfully, most people don't want to change jobs every couple of years so by offering a competitive salary and a few perks you may just hang onto them for the long haul.
With health care costs rising and many companies offering fair benefits, at best, having stellar health benefits for employees is essential. People will get sick and if they don't have to spend a lot of money with doctor's visits, access to medication and therapy, they can afford to take good care of themselves and their family. Lower deductibles and plans that allow employees to contribute money to a savings account for future use are some of the things that most employees will respond positively to.
Another area that's important to potential employees is the retirement package. Offering a 401(k) or a pension plan that you allow employees to contribute to, will give them a nice sum of money upon retirement that they can use to sustain the same quality of life. In addition to a retirement package, an extra perk is retirement seminars hosted annually. These workshops benefit all employees, young and old, by outlining the benefits they have and how to best plan their retirement.
A handsome salary is a good starting point to motivate someone to sign on to work with your company. Going outside the standard cap and offering a higher salary can also help with employee retention and prevent them from leaving. It helps in other ways too. Since your employees are aware that they are paid more than most in their field, they will work harder to achieve the company projected goals and want to do everything they can to improve your bottom line.
Establishing a personal relationship with your employees is key to keeping them content and committed to your business. That's why a lot of Fortune 500 companies now take extra steps to include the extras. This can be corporate event planning to keep the company culture alive or giving out awards to pay a personal tribute to an individual for their performance. This also helps put the name with the face of employees and keeps your staff connected.
Potential for Advancement
A recent college grad wants to climb the corporate ladder. Giving them the ability to do it through your company will motivate them to learn the necessary skills either through additional schooling or on-the-job training. Promoting from within will not only keep your employees happy, it provides a positive environment where employees know that if they work hard they can advance. In doing this, you'll improve your retention percentages and attract hot commodities.
Attracting the right people to your company is achievable. If you're willing to go the extra mile and present a benefits package that includes a higher-than-average salary, excellent health and retirement benefits and a few extras, you won't have to worry about finding the right people.