Employee benefits that don’t break the bank

Workforce Management
JC Cornell

By JC Cornell
October 11, 2022

November 28, 2023

0 min read

Unlimited vacation. Excessive health care spending accounts. Free childcare onsite. Gourmet meals prepared by Michelin star chefs.

For the lucky few, these are everyday employee benefits.

In today’s competitive job market, skilled candidates are not only looking for positions with competitive wages, they are also looking for good benefit packages.

But the reality is, unless your company is swimming in gold, Scrooge McDuck style, you probably can’t afford to offer those large tech company employee benefits we are always hearing about.

Thankfully its not just about money when it comes to offering great employee benefits. More often, employees are looking for meaningful benefits that champion their work and personal development. The best news is that these types of benefits don’t have to break the bank.

Here are a few amazing employee benefits to consider implementing (or suggesting, if you’re not the boss) to show employees they are highly valued.

Flexible shifts

Employee benefits that address greater flexibility in work shifts are always viewed as a perk for employees. If your company has core hours, look at offering three arrival and leave times so that employees can set their schedule around this.

Employees still have a set schedule which allows managers to plan for coverage, but it allows greater flexibility to accommodate their personal and family needs.

Summer hours 

A lot of companies slow down over the summer months. Think about allowing employees to leave early or take off a certain number of Fridays during these slow periods.

Even leaving a couple of hours earlier on a Friday will feel luxurious. It allows your employees to beat traffic, spend more time with family, or just relax and disconnect.

Set parameters around time off to make sure all work that needs to be done gets done, and then trust your employees to do the great work they have always done for you.

Relaxed dress code one day of the week

Casual Friday is pretty common in a lot of companies. If it isn’t in yours, consider a couple of ways you could relax your dress code.

If its not possible to allow jeans, maybe its “No Tie Friday”.

Outline dress code for the day and allow a more relaxed dress code one day of the week. It’s one of the most loved employee benefits that doesn’t cost a cent.

Employee referral program

It’s important to hire the right people. Great people know great people. So why not incentivise employees to recommend great candidates to work with them?

Employees receive a bonus after the referred candidate has been on the job for a set number of days – usually the length of their probationary period.

Optional remote work or telecommuting

Work-life balance can lead to reduced stress and great well being for all employees. The option to work from home a couple of days a week is seen as a major benefit when a candidate is considering a new job.

If your employees are already working on laptops, an additional hardware expense won't be involved. Alternatively, with so many software systems being web-based, your employees can log in remotely.

Commuter benefits

Encourage the use of public transport to reduce your company’s carbon footprint. If you are already paying for employee parking spots in a parkade, consider offering paid monthly transit passes.

You will need to look at the details specific to your city, but the cost difference could actually save your company a lot of money. Contemplate adding special carpool parking spots close to the building entrance to encourage ridesharing.

Lunch and learns

Employers are seen in a more positive light when they encourage opportunities for their employees to learn and advance their career.

Bring in experts to teach employees during lunch and learn sessions on work related topics. Empower women in your office by inviting inspirational female leaders to speak.

Special Interest Clubs

Open your office to special interest clubs in your area that can help teach employees important life and work skills.

Think about including public speaking clubs, craft circles, safety awareness clubs, fitness clubs, or even support groups.

Corporate discount program

As your company grows, you may be able to arrange corporate discounts at various companies in your area. Think about health clubs, dry-cleaning services, fitness centres, restaurants, retail chains, and mobile phone packages.

A lot of large companies have corporate packages for companies to offer as employee benefits, you just need to investigate the ones that will work best for your company.

Free desktop music

Give employees headphones and access to streaming music right at their desk. This can help maintain focus and reduce stress for employees working in cubicles or open-plan offices. Employee benefits like this are low-cost but have a high return.

Spirit of giving

Contributing and improving the community is all part of corporate responsibility these days and can be wrapped up in employee benefits.

Encourage employees to get involved in food drives, charity walks, fundraising, mentor programs, youth work, and even volunteering office administrative assistance with Not-For-Profits. Organise activities for employees to get involved in throughout the year.

You can take it a step further by gifting every employee with a “Day for Giving” which allows them to volunteer with a charity of their choice for a day – or over two half days. If your company already participates in charity events or corporate giving, you are already ahead of the curve.

Structure employee benefits that work for you

Every company is different, as are their workers. The most valuable employee benefits will depend on your employees and their personal needs.

If you are unsure what employee benefits they would value then just ask!

The good news is that it’s not the most expensive employee benefits that are the most sought after, or that make the biggest difference in someone’s life. In the long run, these employee benefits will help you retain loyal employees and compete in today’s competitive job market.

Looking to promote your amazing employee benefits to qualified candidates looking for a new opportunity? Work with us today!

It has never been easier to save time, source qualified candidates, and fill your open roles faster than with the help of Airswift’s recruitment services.

We partner with our clients to scope the requirements of their roles to determine the core skills and qualifications that are needed. We have experienced recruiters and a strong reputation within STEM.

If you are looking to quickly fill open roles with qualified candidates connect with one of us today! Let’s work together to make your company the success it should be.

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