Low-cost employee perks your team will love

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When it comes to the perks you can offer employees, the sky’s the limit. But not all perks need to be big and pricey. Some of the best employee perks are free or have a very low cost. 

In fact, studies have shown that employees who feel appreciated are more likely to be productive and stay with their company for a longer period.

It’s widely known that happy employees lead to a more productive workplace. And one of the best ways to keep your employees happy is to offer them perks that show you value their work and contribution to the company. But did you know that offering perks can also be a great way to save money?

That’s right, offering employees perks can save the company money in the long run. By providing perks like flexible work hours, free or discounted products and services, and even mental health support, employers can see decreased employee turnover, increased productivity, and reduced sick days. 

So how can you achieve this without spending a fortune? We’ve got a few out-of-the-box, low-cost perks your team will love:

Employee Recognition

Let’s start with how good it feels to be recognised at work. Just a simple thank-you or compliment can change someone’s day. 

It is essential for teams, especially virtual teams, to have moments of recognition. It makes them feel more connected. Make an effort to at least once a month message/email your employees explaining how much you value them and how well they are doing. There are actually powerful business reasons to offer recognition – a major one is that someone who doesn’t get recognised at work is TWICE as likely to leave and move over to a competitor. Are you willing to take that risk?

Care and Appreciation

Another perk is to show appreciation and caring behaviour. Beyond a standard paycheck, firms need to express appreciation for other areas. Opting for an employee perk program can be a great way to show care to your employees. It allows them to work with more dedication and honesty. Sounds good, right? 

Wellness Program

Sitting for prolonged periods at offices can have negative health effects as there is an increased risk of Type-2 diabetes and cardiovascular diseases. 

Now a wellness program may sound expensive but guess what, there are several ways to implement a wellness program without breaking the bank. For example, you could offer employees discounted gym memberships, free or discounted healthy meals, or even on-site yoga classes. You could also encourage employees to walk or bike to work. Having a monthly paid lunch always goes down as a treat, and provides great a team social. PerkBox seems to be growing in popularity so might be worth looking into.

Office Perks

An employee’s desk needs to be an enjoyable place to ensure high engagement during working hours. That’s where office perks can really make a difference. Do they really matter? Yes. An employee spends half of their day at their desk whether that be at home or in the office, and getting bored can reduce workflow productivity. Bring joy to the office by organising different events and introducing multiple team-building games. 

Unlimited Holidays

Paid time off is a great perk that allows employees to take time off when they need it without worrying about losing income. Studies show that employees contribute to long-term commitments and happiness once their basic needs are given. Unlimited holidays might be frightening at the start, but just ask yourself, have you hired anyone on your team that is irresponsible?

Offer flexible work hours

Typically, a flexible working schedule is necessary for employees who have busy schedules or need to juggle family responsibilities. Moreover, providing flexibility demonstrates to the employees that the company trusts them, leading to higher engagement and better life quality. Remember, it’s not always about being chained to a desk for a typical 9 to 5 day. 

Performance Bonus

Another brilliant way to keep your employees happy is the performance bonus. You can tie the rewards to outcomes as performance bonuses can develop a sense of control and management skills in employees. Additionally, it is a great way to reward employees’ hard work and dedication. This perk can be used to motivate employees to meet or exceed goals.

Offer personal advice

In many cases, other employees will be going through similar things that you as an employer once faced. Young employees may be looking at buying their first home, trying to budget and save money, or starting a family, and having practical advice can be extremely helpful. There is no harm in sharing your personal stories, hints, and tips that will help them. A lot of your less experienced team members will look up to you as a mentor and will happily be seeking your council in both professional and personal matters.

Conclusion

If you’re looking for ways to reward your employees that don’t cost a lot of money or time, consider implementing some (or all) of the ten perks we’ve outlined. These benefits will make your workers happy and productive, but they’ll also improve company morale and increase loyalty among your staff. 

Mohammed Adris is a co-owner & director at Responsum Global. He has over 8 years experience matching the top building services engineering talent with the best employers. He has over 50 written success stories. He’s active on LinkedIn, is a host on The Building Services Podcast, and is a regular writer on The Building Services Blog. He’s a dad of 2 & a petrol head.

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