Traditional employee benefits are making a huge impact on all sectors of the workplace. However, small businesses might not match up to the comprehensive packages offered by their larger counterparts. One approach that smaller businesses can take is to offer employee perks. This strategy works as an ingenious way to keep your valued employees and attract the notice of incoming talent as they enter the application process.
The Definition of Employee Perks
First of all, the perks are intended to be optional. These services or amenities are not rolled into wages, so technically, they won’t appear in a paycheck. Although such additions are not considered compensation, per se, they still serve as great incentives. That way, you can track and encourage employee engagement, motivation, and productivity without being too heavy-handed about it. Since this is the case, it’s easy to confuse “perks” with “benefits” – although often used interchangeably. These terms are actually distinctive concepts. Some benefits include group health insurance, dental and vision coverage, and 401(k) contributions.
Numerous Examples of Them
So, with all that said, let’s switch gears. Here are several examples of the employee perks you can extend to your team:
Flexible Scheduling: Flexibility is all the rage these days. The old notions of a daily commute and 9-5 business hours are starting to decline. By encouraging a healthier work-life balance, you allow your employees to manage their day-to-day schedules.
Additional Education: Giving your employees the chance to strive for more education is a huge plus. In this case, it might make more sense to backstop certification courses.
Free food: Think fast – what is one way to keep everyone in your workforce happy? Feed them! Now obviously, providing free food, drinks, snacks, and coffee is much more feasible when everyone is back under the same roof. It’s also a great way to help your employees save some money – they won’t be as tempted to wander off to nearby bakeries or delis!
Time to Volunteer: Community activism is becoming more and more important these days. Show your team members that you care about the same social issues they are passionate about; give them some time to complete volunteer work. Just be sure not to count this time against their PTO accrual.
Does Offering These Options Make Sense?
In the end, you’ll have to weigh the merits of offering these perks and others like them. Affordability and relevance will more than likely end up being the decisive factors.
A Customer Testimonial
We want to spotlight Heather Porzillo’s positive response to our services: “Our employees have many great benefits that we fund entirely. However, having a voluntary package helps them customize their coverage even further. Even if you have employer-funded benefits, you may be surprised at how excited your employees will be about a voluntary offering. And if you can use The MWE Partnership to offer voluntary benefits, rest assured that you and your people are in good hands.” Thanks again, Heather!
Get Your Voluntary, Supplemental, and Health Insurance Policies with the MWE Partnership!
Are you a business looking to provide your employees with essential voluntary benefits? If so, look no further than The MWE Partnership. When you choose The MWE Partnership, you get experienced service and comprehensive voluntary benefit options that will meet all your employees’ needs. With over 17 years of experience, The MWE Partnership is your go-to provider for all your supplemental benefit needs. If you are interested in finding out how The MWE Partnership can help your business, contact us today! We encourage you to like our Facebook page and follow us on Twitter and LinkedIn for all the latest voluntary benefit news!