If you run a business, you rely on your employees to keep it running smoothly. It's important to find top talent and nurture it. These days, this requires more than paying a decent salary. The World Economic Forum reveals that pay alone isn't enough to retain good employees. Workers also want good benefits. Read on for a list of innovative ways you can reward your employees and secure their loyalty.
Allow remote work
More than ever, employees want the option to work remotely, even on a part-time or as-needed basis. This not only allows your team members to feel a better sense of work-life balance, but you may also enjoy reduced overhead costs, so it’s an option worth considering for many reasons.
If you really want to open your company to a wide range of candidates, the option of fully-remote work enables you to hire candidates outside your immediate area. This means that you can hire top talent no matter what their zip code is. You can also make hiring long-distance employees simpler by utilizing a PDF filler that allows them to sign their contract electronically.
Professional development support
Give your employees the tools they need to grow, like mentorship programs. Upskilling your employees also benefits you, as you can give them greater responsibilities. Plus, contributing to your staff's education shows that you care about their development. Consider providing subsidies or paying for continuing education courses. Courses in fields like technology or business can be useful. Look for online programs that make it easy for people to study and work simultaneously.
Holistic health programs
It's definitely in your interests to invest in your employees' health, as research suggests that healthier workers are more productive. Consider providing stipends for mental health and fitness programs. Group fitness courses, from yoga to Spin classes, can also be a great way to encourage team bonding.
Flexible working arrangements
The days of a strict nine-to-five schedule are definitely in the past. Modern workers prefer greater flexibility. There are a lot of ways you can accommodate their wants. View Sonic outlines different types of flexible working arrangements, including remote work, hybrid work, shift work, and job sharing. You might also consider a condensed work week so that people only have to work four days per week and get to enjoy a three-day weekend.
Help with childcare
If a lot of your employees have children, this can be a major asset. There are various ways you can accommodate workers with kids, from creating an on-site daycare to providing stipends for child care. Also, think of your employees with fur babies. Employees with pets may appreciate perks like being able to bring them to the office. Follow these best practices for creating a pet-friendly office, like setting aside a separate space for animals.
Retirement planning support
A lot of people are stressed about funding their retirement. Alleviate your workers' worries by offering retirement planning support. You could offer 401(k) matching, for example. There are many other options, like pooled employer plans, SIMPLE IRA plans, and SEP plans. You can also look at ways to give your employees' incomes a boost so they can save more for retirement, such as through employee stock ownership plans or profit-sharing schemes.
Events outside the office
Workers who have friends in the office are more likely to be happy and stick around. Help your employees connect with each other by also offering work events outside of office hours. There are many fun team-building events you can try, like volunteering at a soup kitchen or planting trees together. If you aren't sure what your employees would be interested in, give them a survey to complete.
Support for commuters
It's not always possible for workers to do their jobs remotely. If your team still has to commute, make it as easy as possible for them. For example, you might offer public transportation passes for free or give them stipends for gas money. You can also help them organize carpooling, minimizing everybody's carbon footprint. Carpooling together can be another fun way for teams to bond.
Your employees are what keep your company going, so you need to take care of them. With innovative rewards like fitness programs and educational benefits, you can help keep them happy.
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