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You may be reading this article because your small business needs to attract and retain quality employees and you are considering offering some perks. You may already understand that good benefits are just as important as decent wages to support your applicant flow, land good candidates, and retain staff.
So how do you get started? Decide what direction you think will most appeal to your employees. Think like a parent: What programs are you interested in offering for their security and welfare? Who are you looking to attract? Answer those questions and then plan, plan, plan. Your time planning will lead to measurable goals over time and keep you out of trouble.
Start slow and maximize the perceived kindness of "the company." Always implement changes at a manageable pace. This will give you time to adjust your budget and ensure that you have parallel goals with your employees. If the benefits program you implement begins harming profitability you will need time to turn things around before you get in over your head.
In the beginning it could be as simple as focusing on your environment. A fun place to work is tops for most job seekers. Having a good time at work can be of greater interest than top pay in today's labor market. Most people would be satisfied even making a little less per hour if they enjoyed their job more. Try allowing space on your work site for a pool table, ping pong table, basketball hoop, etc. Giving employees time off during the day to blow off a little steam is another simple way to offer something and keep expenses low. Give your workers breaks on company pay for an extra 15 minutes a day (these breaks would be in addition to the regular time off required by law). Allow them to play miniature golf around the office or play Pictionary in the board room. These "games" can build a fun team atmosphere and they don't cost much.
Don't stop there! Today's workforce will want more. Benefits are a significant portion of my total compensation as a manager. I work in a fun environment, but many of my own employees take the company benefits programs for granted. We have some great perks as well. In reality, they may not understand all the company benefits that are offered. So be prepared to explain what you do provide. Employees may whine "ABC business down the street is starting new hires at $1.29 more per hour... How come I don't make that?" At the same time, they may have benefits with a net worth far greater than what the other company may be offering. Your pitch: "We give you more in the form of healthcare, vacation, sick pay, disability insurance, and peace of mind. We won't be closed in a year."
As the owner of a small business, don't think because it is not on their mind, or they are not bringing it up, it can be ignored. You should be chatting about the programs with your employees. Remember it is all in the presentation. Be prepared to list every perk, benefit, or alternative benefits program offered when a job candidate inquires.
Once you're ready to ramp up and offer a more costly program: profit sharing, tuition assistance, or health benefits, set your goals and then get an expert involved. Again planning is critical before you enter in this arena. There are laws that may apply as well as significant barriers to entry involved in starting one of these programs. That being said, many providers of healthcare and investment planners will help model a plan tailored for your unique business. They can offer solutions to get you started, once you know your goals.
The key to an effective benefits program is to know your people. What would they really appreciate? Focus on what will provide you the best bang for your buck. Often it is the smallest things and least expensive things, like more time off with their family that will win them over.
Visit http://www.manageup.net a web site dedicated to organizational leadership.
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