As companies look at new ways to attract and retain top talent, a growing trend is the development of “Total Rewards” programs. These programs combine traditional health benefits and compensation features with additional no-cost or low-cost “perks” that both recognize talent and contribute to the company culture.
Consider how incorporating some of the following into what you offer employees might enhance your “attraction” rate and keep your employees loyal and happy!
No- cost ideas
- Community service projects – such as Habitat for Humanity or Food Drives for Second Harvest Food Banks – to build engagement and teamwork
- Wellness programs – weight-loss challenges, group walks at lunch
- Employee credit union
- Bring your pet to work day
- Potlucks
- Lunch & Learns with guest speakers – financial planners, estate planning, wellness
- “Green” initiatives – ride your bike to work day, e-Waste recycling
- “Fireside chats” with President and management team – informal, open forum for employees to ask questions and learn more about where the company is heading
Low-cost ideas
- Service Awards (5, 10, 20 years): Plaque and gift certificate
- Adopt a charity (employer matches contribution)
- Day off to volunteer at a non-profit of their choice
- Company-sponsored lunch or social
- Commuter reimbursement or subsidy program
- Company-sponsored holiday party or sports event
- Discount programs – amusement parks, theater tickets
- Dry cleaning services subsidized by the company
- Free coffee, tea, fountain drinks
- Informal wellness programs and classes paid for by the company
- Paid membership for professional organizations related to job
Please feel free to share your ideas about your total rewards strategy by leaving a comment below. Also, contact me if you are interested in learning more about developing and implementing a total rewards program or other ways you can attract and retain top talent that won’t break the bank.
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