Expanding Employee Benefits

As the end of the year approaches, it’s the perfect time to begin planning your benefits program for next year.  If you’re like most companies, you probably still are operating within a tight budget. And yet you realize that your employees have been working hard. You’d like to ensure that you retain your top talent and have programs in place to attract more talent as the need arises.  So what can you do? Here are  some ideas for no-cost and low-cost benefits and perks to consider.

• Direct deposit. Providing your employees with the option of having their check automatically deposited to their bank account saves them time and often results in additional perks from their bank for them.
• Credit union membership. There’s no cost to the company and many benefits to the employee.
• Amusement park/local attraction discounts. You can sign up at no charge as a company for employee discounts.
• Community hours. Offer your employees a certain number of paid hours off to spend in community service at their favorite charity or their child’s school.
• Wellness programs. Weight-loss challenges, group walks at lunch, activity-tracking competitions.
• Lunch & Learn events with guest speakers. For example, financial planners, estate planners, nutritionists, etc.
• “Green” initiatives. Ride your bike to work day, eWaste recycling, contests for the best “green” ideas.
• “Fireside chats.” Open forums with the president and management team  for employees to ask questions and learn more about the company and its direction.

And here are some additional ideas…

• Discounts through the company’s wholesale supplier
• Service Awards (5, 10, 20 years)
• Informal wellness programs and classes paid for by the company
• Paid membership for professional organizations related to the job
• Company sponsored lunches or socials
• Dry cleaning services subsidized by the company
• Free coffee, tea, fountain drinks, lunches

Benefits over and above those required by law contribute to the company culture, show the employees you care, and help in attracting and retaining talent.