When talented individuals are looking for a job, salary is one of the most important factors they consider — but it’s not the only one. Companies that offer competitive salaries in addition to other perks often attract, and retain, top talent.
Here are a few company perks you can consider implementing in your business — some may even save you money while boosting employee morale.
Free Refreshments
Some people can’t imagine starting their morning without a cup of coffee, but not everyone has time to brew a pot or stop at a coffee shop before work.
Providing complimentary coffee, tea and occasional light refreshments like muffins and bagels in the break room is a low-cost gesture that will be appreciated by those who were in a rush that morning.
You can also consider catering lunch for some meetings, especially those held during lunchtime. Your employees will enjoy the occasional free meal, and meeting attendance might even improve. Providing refreshments is a relatively low-cost company perk, and a great way to show your employees they’re appreciated.
Telecommuting Privileges
If your employees only require a telephone and internet-connected computer to perform their duties, you might want to offer telecommuting as a flexible work option.
Telecommuting, or working from home, eliminates your employees’ commute time, which can save each person several hours per week. As long as productivity remains constant or improves, there’s no cost to your business for this company perk.
In fact, if you establish a set telecommuting day, like every Friday, you can actually save money by reducing the use of electrical, HVAC and other utilities in the office by up to 20 percent.
HSAs
Health Spending Accounts (HSAs) are a way for your employees to save and pay for medical expenses if you offer a High Deductible Health Plan (HDHP).
The accounts are funded by pre-tax paycheck deductions, and designed to pay for expenses such as medical visits and procedures, orthodontic treatment, prescriptions and more.
This company perk is a great source of savings and security for many employees, especially since the funds in the account roll over each year and grow tax free Start an HSA for your employees by comparing employee benefit providers, and choosing a program that fits you company’s needs.
Employee Credit Cards
For company-related expenses, business credit cards can make internal accounting easier and more efficient. Rather than having your employees pay for business expenses out-of-pocket, and then submit an expense report to recoup the cost, a business credit card streamlines the expense tracking process.
Plus, it gives more responsibility and autonomy to your employees. Some business credit card accounts also come with rewards programs, which means you can earn cash, airline miles or reward points each time you or one of your employees swipes the card.
You can also choose whether to have the company earn and redeem rewards or have your employees earn and redeemthem, as an added company perk.
Ask Your Employees What They Want
These are just a few suggestions for rewarding your employees’ hard work, but to find out which company perks will provide the greatest incentive in your group, ask your employees what’s important to them.
Other employee rewards may include a gym or workout room in the office, an elaborate holiday party or yearly bonuses. Boosting employee morale works best when the lines of communication are left open.
This sponsored content was created and provided by RBS Citizens Financial Group.