When money is tight at your company, it can be hard to know how to reward your staff without pushing the boundaries of what your business’ pocketbook can handle. The good news is that there are plenty of affordable perks you can offer while your company is in the growth process or struggling with cash flow. During the early stages of operating a business, it will be crucial that you attract and retain talent but it will also be important that you keep enough working capital freed up for important business ventures.
You might not be able to purchase a new rock climbing wall for your office, but there are plenty of other perks that will go a long way in making your employees happy without breaking the bank. Check these fun and affordable perks that you can offer your staff.
Let Your Employees Bring Their Furry Pals
If you are looking for a free perk you can provide that goes a long way in winning over the dog lovers of your office, becoming a pet-friendly office is a must. This perk is simple to implement and is particularly effective in small businesses where there aren’t a lot of employees. Allowing employees with well-behaved dogs to bring their furry pals into the office can go a long way in boosting everyone’s morale. Not only this, but your employees will be able to focus on work longer, without worrying about how Fido is faring at home.
A dog-friendly office is an easy benefit you can use to attract new employees and retain the ones you have. For an added perk, purchase a bin of dog biscuits to have on hand.
Give Your Employees A Half Day Friday Once A Month
Another simple perk that you can implement that will cost you very little, if anything at all, is allowing your staff to leave at lunchtime one Friday every month. This is a very small thing to do that can go a long way in making your employee’s happier. It allows your staff to have something they look forward to every month and can help your employees be able to take weekend getaways without requiring the use of extra PTO. Let your employees hit the road early once a month and beat the Friday rush through this cost-effective perk.
Allow For Volunteer Opportunities On The Clock
One way that you can help retain your staff is by allowing them to fulfill a greater purpose in their life. Once a month, offer your staff a set number of hours that they can volunteer on the clock. This benefit is easy to provide and doesn’t hurt your business’ operations. Not only that but when employees are afforded the chance to volunteer in an area they are passionate about, it can help to improve their overall outlook on life. This leads to happier, more productive employees when they are in the office. The more accustomed they become to this volunteer time, the less likely it is that they will want to lose this chance.
Implement Remote Work Flexibility
Want a perk that is easy to offer, free, and can actually save your company money? Consider offering remote work flexibility. This can allow you to use less energy in your office while cutting down on the space you need as you grow. Employees enjoy this perk because it allows them to spend less time commuting, as well as offering them more time to focus in the comfort of their home.
Remote work can be implemented in a few different ways. You can choose two days a week that everyone works from home. You can offer some of your staff completely remote jobs. You can provide a certain number of hours each month that can be worked remotely or a combination of any of these tactics. There is no limit to how you can make remote work a part of your team’s operations. It might take a little more time upfront to adjust to, but remote work is an increasingly popular choice, especially among small businesses.
Invest In Learning Opportunities
Another great perk that can be kept affordable is offering learning opportunities to your staff. This not only acts as a great benefit for your employees but also offers your company the added advantage of any new knowledge or skills gained. Most employees will see learning opportunities as a huge benefit and these chances to grow can allow your staff to feel less stagnated in their current position.
You don’t have to fly your company to a major industry conference to implement this perk. Rather, you can start by looking for local events that are free or low-cost, to begin with. You can purchase reading materials or online courses for your employees to take advantage of. Talk to your local library as well to find out about other community resources and events that your team could benefit from.
Helping Free Up Your Small Business’ Finances
When money is tight, it can be hard to offer your employees enough benefits to keep them around. Pair the above ideas with added funding for your business to ensure you have the working capital you need to operate and retain top talent. If you are looking for creative lending solutions, talk to our team at the Commercial Finance Group. We can implement unique tactics, such as factoring and asset-based lending, to ensure you have the flexible working capital you need.
