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Benefits to offer your small business employees

Hardworking employees are hard to come by – and often tough to keep on staff because of how valuable they are. To reward employees for their hard work, or to give employees an incentive to work harder, it’s smart to offer them benefits either once in awhile or very frequently. Bert Seither, The Startup Expert®, suggests the following benefits worth giving out:

– Free lunches

Who doesn’t like to chow down on tasty lunches, especially if they are free? Order food or catering for your employees once in a while. This could be done when your team accomplishes a certain goal or goes above and beyond your normal expectations. Or, you could simply bring in a box of cookies or cupcakes if you don’t have the money to go all out on a big meal for everyone.

– Bonuses

Bonuses are a welcome addition to an employee’s paycheck. If your web designer, secretary, or marketing manager does something special, consider giving them a little extra spending cash as a nice reward. Holiday bonuses are another good idea to give your employees some shopping money to spend on gifts for family and friends.

– Raises

It may not be considered a traditional “benefit,” but giving someone a raise for sticking around and putting forth lots of effort is a fantastic way of saying “thank you.” Sometimes raises are given on a regular basis, while other times, a good amount of productivity and advancement must be shown on an employee’s part to deserve one. Whatever your philosophy is, reward your best employees with raises when you feel they should get them.

– Lighter schedules

It’s not the most common benefit offered, but consider giving someone a lighter schedule. Let them work a half-day on a Friday, or take some of the pressure off them as a reward for hard work. You could even give a dedicated worker additional vacation time or personal time off. Bert Seither, The Startup Expert®, says to be reasonable with this so as not to decrease someone’s productivity while rewarding them at the same time.

– Health insurance

Health insurance is one of the most highly-sought-after benefits of any job. This may include medical, dental, and vision insurance. We all want to stay healthy, and we all don’t have the ability to afford quality healthcare. So if you can manage it, offer health insurance to your employees through an insurance provider for businesses.

– Paid vacations, sick leave, etc.

Taking time off is wonderful, but getting paid for this time away from the office is even better. If your small business has the funding to do so, offer paid time off as a perk to an employee’s job. Sick leave is another nice benefit for those who fall ill at the most inopportune times.

– A retirement plan

You could certainly offer a 401(k) or pension plan to employees to which your small business makes regular contributions. Be sure you are aware of the rules associated with these plans, says Bert Seither, The Startup Expert®. Longtime employees with company-sponsored retirement plans should be able to build up a nice nest egg for the future.

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