With companies such as Facebook now paying up to $20,000 to its female staff to undergo egg freezing and Google offering free branded bikes, giant helter-skelter rides and nap rooms, can smaller companies compete with big company perks?
These companies set the bar high and many self-employed people who run small businesses can be left feeling that they cannot afford to offer competitive business perks to employees. Also providing the benefits that meet the demands of all employees can be a tricky balance. For example someone in middle age might be more concerned with financial benefits, whereas younger workers may value more personal wellbeing benefits such as professional development.
However whilst some employees will be attracted to the more unusual and often extravagant perks there are some more conventional and affordable benefits that are highly valued.
This is good news for small business owners as it’s likely they’ll have invested a lot of time and money into hiring and building the skills, knowledge and experience of the people in the business so it’s important that they’re able to take care of their people – their business’s greatest assets. By doing so it can help keep everyone productive, motivated and well.
Businesses that show they care can also gain recognition from their own employees for their efforts. Awards such as the 100 Best Small Companies to work for identify the importance of areas such as employee wellbeing and personal growth provided by employers, as well as the perks.
“A healthy and engaged team is key to any productive and successful small business. With stress, depression and anxiety accounting for more than 15.8 million sick days last year, taking a proactive interest in your employees’ health and wellbeing is essential. ” says Dr Chris Tomkins, Chief Operating Officer – Proactive Health at AXA PPP healthcare.
In this handy infographic, the small business experts from AXA PPP healthcare’s Business Health Centre give their list of the most wanted and easiest benefits to offer employees.
Taking care of employee wellness, by offering discounts for a local gym membership, employee healthcare cover or even starting a team sport in the office.
Never underestimate the power of free food. A simple, healthy breakfast and lunch program or even some free fruit in the office is considered a major perk and productivity booster.
For many this could be the top of the list. A cost-effective way to instantly motivate employees without any complex admin, with many UK companies already offering it. Don’t forget the Birthday card!
Taking staff off-site to either enjoy an away day for team building, offering a simple drink after work on a Friday or offering ‘vouchers’ for line managers to take new starters for coffee are ideal ways to take some timeout, get to know each other, to share ideas and improve teamwork
Offering remote working, or flexible hours outside the normal 9 to 5, demonstrates you appreciate the value of a better work-life balance, so rather than wait to be asked why not offer it.