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January 18, 2016
As a startup, the idea of offering a benefits package can feel daunting. You are most likely working 80+ hours a week, pinching every penny and trying to figure out how you’ll acquire and keep the quality of employees you need to take your startup to the next level.
If you’re asking yourself whether or not you should offer benefits to attract and retain employees, the answer is yes. Why? Here are a few reasons:
• Benefits are valuable to employees.
• Benefits foster employee loyalty.
• Benefits can be even more important than advancement opportunities.
• Employees who are satisfied with their benefits are more likely to be satisfied with their jobs.
• Benefits don’t always have to be costly to your new startup.
Now that we’ve given you some reasons to offer your employees benefits, let’s look at five unique benefits startups can offer.
Today’s Millennials (ages 18-34) have some lofty ideas when it comes to their desired benefits package. Their unique take on a work environment along with the ready availability of devices and Wi-Fi, has created a trickle down mentality.
It seems that a majority of workers would appreciate flex time as a workplace benefit. In fact, Millenial workers have said they’ll go so far as to relocate for workplace flexibility.
The idea of flex time as a benefit is great for your startup because it costs you nothing.
Today’s workforce wants to work, and they want to work during their most productive hours. For some employees that might mean working 11-7 instead of 9-5. For others that might mean working in the morning and in the evening with afternoons off to continue their education or pick up children from school.
If you’re wondering if flex time makes employees less productive, a Stanford study actually found the opposite. Researchers found that working remotely increases productivity, overall work hours, and employee satisfaction.
Flex time is a unique benefit you can offer your employees that benefits your employees and your startup.
Startups are busy. Employees are working long hours while managing their own homes. Many of them would greatly appreciate it if someone else cleaned their house.
Evernote, a tech company, pioneered this great benefit. Twice every month, they send someone to clean their employees’ homes.
The company’s rationale? If their employees are happy and less stressed at home, they are better workers.
Evernote also gives their employees $1,000 per year to take a vacation because they value the importance of relaxation to a creativity.
This is another unique benefit you might offer. Another tech company, JibJab, gives their employees a laundry bag on Mondays. They stuff it, and 24 hours later a cleaning service returns clean, folded clothing.
This gives their employees a chance to spend more quality time at home with their families which in turn creates happier employees.
Zappos offers free breakfast and snacks to their workforce. You could try this with your employees. Offer snacks during the day or breakfast during the morning. It doesn’t have to be fancy. Even a bowl of fruit set out in your kitchen area is helpful to your employees.
Breakfast is a unique benefit because many employees are racing around in the morning getting kids off to school and don’t have time to eat breakfast. Snacks are great because they get your startup workers over the mid-morning or mid-afternoon hump.
This is another unique benefit startups can offer that doesn’t cost anything.
Your dog-loving employees will appreciate this benefit. Some experts say that allowing pets in the workplace leads to more focused employees who are content at work and willing to work longer hours.
It can be hard to attract and retain the best talent for your startup. One of the ways you can stand out from the competition is to offer attractive or unconventional benefits packages.
While health insurance, sick leave and paid vacation are great, today’s workforce wants more. They want to feel valued, they want to work when they’re most productive, and they want to feel like they’re a part of something.
We’ve given you five unique benefits startups can offer employees that will increase your startups value in the eyes of potential new hires.
Get creative and think about benefits that are of value to your employees. Unique benefits are a superb way to attract the best talent and create loyal employees who’ll stick with your startup through the beginning years and beyond.
If you’re ready to get your startup off the ground, we are here for you. We can help answer your questions and guide you through the process. Outsource your finances, payroll, HR duties and more to us. Contact Escalon today to get started.
Our team is made up of seasoned professionals who bring years of industry experience to the table. You gain a trusted advisor who understands your business inside out.
Say goodbye to the hassles of hiring, training and managing in-house finance teams. You will never have to worry about unexpected leave of absence or retraining new employees.
Whether you’re a small business or a global powerhouse, our solutions scale with your needs. We eliminate inefficiencies, reduce costs and help you focus on growing your business.
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