Leaders know that money isn’t the only factor in a person’s life. Sure, your employees, like you did when you were broke, want to eliminate their financial troubles. Still, a healthy salary only goes so far – workers need to understand that you care, too.
Without throwing money at the situation, the solution may not spring to mind right away. However, there’s no need to worry about a lack of creativity. One of the simplest-yet-most-effective options is to look for inspiration from businesses that lead the way.
Here are four excellent features of great companies that any SME or home-based organization can also implement.
Equal share opportunities
Multi-million and billion-dollar enterprises use their incredible profits as employee perks. Unfortunately, only a select number of workers are lucky enough to get a slice of the pie. You, however, don’t have to follow the crowd. Instead, you can get behind the example set by Flexmls. A 100% employee-owned company, this organization gives the power back to the people to make decisions. Okay, you want a level of authority as the boss, as you should, but micromanaging and expecting people to get in line is a bad move.
Letting them buy shares in the company, or gifting them, are powerful indicators of your intentions. After all, not many businesses allow their people to shape their future.
Comprehensive insurance policies
Your staff enjoys benefits that reduce the need for them to spend their time and money, such as insurance policies. In short, they don’t want the hassle of investing and paying premiums, as most people don’t. Therefore, by offering it as a company perk, you will instantly get them on board. And, a life insurance policy that covers their loved ones will go one step further. A policy on their life that helps their family in a worst-case scenario is the business saying, “we will take care of them; don’t worry.”
Cumulative vacation time
Balancing life and the office is vital if you want your team to stay fresh and motivated. Thankfully, it’s also a feature that workers love, too. After all, it’s the epitome of working hard to play hard. The way it works is simple – let them accrue extra vacation time over the year. As long as they complete their hours during the week, there is nothing wrong with staying at home on Friday and enjoying a long weekend.
A firm called imageOne takes this to the next level by surprising its staff with a day off.
Ignite Social Media uses mystery trips to great effect. By letting the team, excluding the owners, go on an all-expenses-paid adventure, they invest in employee morale. Who isn’t going to love a trip to Paris?! On the flip side, it’s a very savvy way to ensure that the team socializes outside of the workplace. When they get back, this hopefully encourages more efficient teamwork and communication, boosting output and productivity levels.
Think of these methods as speculating to accumulate. Sometimes, it pays to splash out on your workforce.
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