As a small business owner, you may not be in the position to offer traditional benefits, such as health insurance or 401Ks, to your staff. But there are other things you can do to make your business a great place to work, and enticing for both current and potential employers. Try these to get started:
Flexible hours: For an employee, having control of your schedule can be a huge bonus. As an employer, you don't necessarily have to open things up completely; but if you're able to give your employees any flexibility to start earlier or later, come in on different days, or maybe even work a shorter week without cutting back on hours then do it.
A work from home option: There are many potential benefits to allowing a trustworthy employee to work at home one of them being that you won't have to provide them with a workspace! Employees with a long commute or who have young children may really appreciate the option to work remotely. In some cases, your employees may even get more work done outside of the office. So unless it's necessary for your staff to be on site, consider allowing them to work remotely as long as they remain productive.
Welcoming environment: If, on the other hand, you need your employees to be in the office, try to make it a nice place to be. Provide tea and coffee, and maybe bring in treats once in a while. Make sure each employee has a comfortable and functional workspace, that's conducive to productivity.
Wellness benefits: In many cases, prevention costs much less than medical intervention. As a small business owner, you can get creative in helping your employees to stay healthy. Build a group walking break into your day, start a fitness contest, provide healthy snacks or purchase a gym membership to give away.
Health stipend: If you cannot afford health insurance for your employees, perhaps you can afford to help offset the cost. If your employees can show that they have purchased their own plans through the marketplace, consider giving them a small monthly benefit to help cover the cost. This will go a long way to show your employees that you care about their well being, even if you can't fully cover their insurance.
Time off: Whether it's for a vacation or due to family or personal illness, your willingness to work with an employee who needs time off could pay off in the long run, in loyalty and the motivation to work harder on your behalf.
Training: Inexperienced employees, in particular, may be willing to accept a job with fewer benefits if they are gaining valuable expertise and experience.
Recognition: Having meaningful work is often more important than being at the top of the payscale. Acknowledge employees both publicly and privately for their contributions, and try to regularly show your staff that the work they do matters.
While you may not be able to offer all of the same benefits as a larger company, stay focused on the reasons your company is a great place to work, and you can still attract high quality talent.
For any questions about your business insurance, call or contact Executive Insurance & Financial Services today.