Employee benefits are one of the best ways to keep your employees engaged, interested, and committed to your company. It’s never too late to start offering these employee benefits, although having a plan in place as you start your business is often a good idea.
You can also bring in added benefits, bonuses, and perks for specific employees or as rewards for reaching certain milestones in the company. With all that being said, sometimes it’s tough to figure out just what are the best employee benefits that your business. What can the company afford? What would be the most enticing to old and new employees alike?
If you’re struggling to figure out just what to offer, here are the seven best employee benefits to encourage job motivation:
1. Healthcare benefits
Good healthcare is one of the best employee benefits you can offer, since the lack of health benefits is a dealbreaker for many people. You should ensure your employee benefits program include dental, prescriptions, vision/glasses, and maybe even some chiropractic/naturopathic consultations. When your employees don’t have to stress so much about paying certain medical-related bills, they’ll be more grateful to the company and in a better headspace to work well.
On a side note, make sure that your employees all receive a reasonable number of paid sick days. Some people do skip out on work unnecessarily, taking advantage of the company’s generosity, but it’s still a good policy to have in place. You wouldn’t want someone who’s sick dragging themselves into work, right?
2. Education benefits
Most people don’t want to be stuck in the same dead-end, entry-level job the rest of their lives. If you’re seeking to grow your company/business, it might be a good idea to promote from within and keep all that brand loyalty in the same place.
But what if those you want to promote don’t really have the necessary qualifications? Well, that’s when the first employee benefit comes in: educational development. One of the best employee benefits is education. You can offer a benefits program that pays for (or at least financially assists) employees who want to grow and branch out, professionally. This can be a huge advantage to many employees – they’d appreciate it.
3. Employee discounts
Most companies/businesses can offer at least some kind of discount to their employees for their products and/or services. This is one of the best employee benefits to have because it encourages employee loyalty and can ultimately make more money for the business. Not all employees will use their discount, but the ones who do will be hugely grateful that you offered it.
4. Free food & drinks
We understand that not every business is in the position to offer free refreshments to their employees. Sometimes you’ve just got to bring a bag lunch. If at all possible, it’s an excellent idea to at least offer free coffee to everyone working for you. This will save your employees quite a bit of money on purchasing their own drinks at Tim Hortons or Starbucks (just make sure the coffee you offer is of reasonably good quality).
Of course, if you can offer a snack area or a candy bar, that’s even better. Just do whatever your company’s budget – and your own common sense – deems doable or necessary.
5. Paid vacation time
Nobody wants to take more of a hit financially than they have to – and this is especially true for those on vacation. Offering your employees a set amount of paid vacation time is an excellent idea. You don’t want your employees rushing through their vacation in order to not miss too many days of work. With that mindset, they’ll come into work grouchy and unwilling to do much for a business that doesn’t do much for them. So offer paid vacation time and watch your employees come back relaxed and ready to work.
6. Sensible bonuses
If you’ve noticed that one or more of your employees has been working extremely hard with little to no recognition or if someone just made a big sale…why not give them a bonus? Bonuses are a little different from some other employee benefits because they tend to be given out on a performance basis – they aren’t written into a contract (at least not all) or guaranteed to any employee. But bonuses are a great way to promote confidence and loyalty in an employee, so you should definitely consider giving some out when deserved.
7. Paying for transportation
It’s not fair for employees to pay for their transportation out of pocket if they’re taking taxis and public transportation for the company. That’s why it’s one of the best employee benefits to cover all transportation fees incurred for the company (and not for personal reasons, obviously). Maybe give those employees who run errands a company gas card or a company vehicle. And make the process of putting in a reimbursement request easy – not difficult.