It’s a war out there. HR managers are constantly on the hunt to find new talents while cooking up ways to retain their current workforce. With employment rates dropping, skilled employees often have multiple offers on hold and they often shift jobs based on employee benefits.
Now the problem is employee benefits is already a pretty complex and demanding HR responsibility. HR managers are already dependent on independent firms to manage their employee benefits account. You can check out Benefit Administration Company, an employee benefits service provider that caters to businesses of all sizes. Firms like these help companies to stay compliant with employee benefits related laws and regulations as well as keep things organized. These firms also help companies to stay within budget, which is a constant challenge.
While benefits such as health insurance and medical checkups are expensive, there are employee benefits that are affordable and can greatly impact productivity. Without further ado, the following are 8 highly affordable employee benefits that can boost productivity.
Flexible Work Hours
Fixed office timings is a dated concept as different people have different schedules. Some people are more productive in the morning while others are at their best at night. Allowing employees to work at their own timings can be a great morale booster. Flexi timing is so appreciated by most employees that it can single-handedly boost employee retention.
Weekly Rewards for Top Performers
Weekly or daily rewards can be a great way to keep morale high. Movie tickets and gift cards usually are great gifts and are relatively inexpensive.
Informal Dress Code
A laid back approach to dress codes can actually make room for innovative thinking. Casual attire and a generally relaxed atmosphere make managers and top-executives more approachable. This allows free flow of ideas and makes employees want to stick around for longer hours without feeling the burn.
Google was the pioneer of office nap pods and other companies have warmed up to the idea ever since. A short 20 to 30 minute nap break can be highly refreshing and can drastically boost productivity levels. If you don’t want to spend too much on futuristic pods, you can designate a room for short naps.
Allowance of Work From Home
When your employees work from home, you save money. You no longer need to pay for the electricity bill and can make do with a smaller office space. According to Forbes, working from home makes employees 45% more productive.
Adding a snack machine that dispenses healthy snacks can boost employee happiness levels. Sharing meals can allow coworkers to bond and be more productive as a team.
More Vacation Leaves
Nothing charges those batteries as good as a long vacation. There have been numerous studies that conclusively prove that taking vacations can lower stress and improves workplace performance. Providing vacation leaves costs nothing, but it pays back by making the employee more productive.
Sometimes all it takes is a MetroCard for employees to feel cared for. Daily commutes can be stressful. When companies take responsibility for the transport, employees tend to return the favor by putting in more effort during work hours.