Employee turnover impacts the bottom line of numerous companies throughout the country. The lack of ability to retain employees leads to thousands of dollars in lost productivity as well as the money it requires to train and onboard a new employee. Money does not always convince employees to stay if they genuinely do not see anything positive about working for the company. The right combination of perks and benefits can increase employee loyalty as well as improve the brand image in the eyes of the employees. The following are perks and benefits that will cut down on employee turnover and increase employee loyalty.
With rising healthcare costs one of the best benefits of a job is supplemented health insurance in a variety of forms whether it is general health, eye health, or dental health. Some leading health insurance providers such as Humana offer Medicare Advantage plans that can be used alongside employer health insurance until retirement. Finding the right healthcare company can lead employees to stay with a company for years due to not wanting to lose their incredible health plan. For many people these benefits can take the place of a salary increase as healthcare can cost quite a bit especially when insuring an entire family.
Investing in a gym for the office can make use of space that was previously unoccupied. This is a great perk and employees can come in early for a workout which will make them more productive first thing in the morning. A staff that is in shape and takes care of their health can bond over this. Starting a few health initiatives can help employees bond and bonded employees are much less likely to seek employment elsewhere. Things like creating an employee team for club sports in the area can be another tactic to increase employee loyalty. Plenty of people tell friends about the great perks at their job so this can even help increase the quality of applicants the HR department receives.
Ability To Work From Home
The greatest perk in the eyes of most professionals is the ability to work from home a few times a week or permanently. Most jobs can be done in today’s world simply by working online with meetings face to face being held on apps or other video chat programs. An employee should have to earn the opportunity to work at home through high production and little direction. Set goals for those who are working from home so productivity is not impacted in a negative way. A person that does not reach these numbers will have to cut their days worked from home down or eliminate this opportunity for them. For certain jobs like web development, it can actually improve productivity from a decrease in outside distractions from meetings, chatty coworkers, and a noisy office environment.
Lunch Provided Daily
Millennials can be encouraged to stay at a company simply because they provide lunch on a daily basis. This cost can be written off but the fact the employee does not have to buy their lunch can help those cash-strapped professions who are right out of college. Not only does providing lunch create a good energy in the office it helps cut down on long lunch breaks taken by those who are less than dedicated to the company. Productivity can also be impacted by providing healthy lunches can reduce the after lunch feeling of being exhausted due to consuming a greasy or overly sugary lunch.
Employee loyalty can help yield incredible profits and reduce spending on training new hires that might not be a great fit for the job. Take the time to analyze what staff at a company value and try to implement a perk or benefit that aligns with these values. Eliminate employee turnover and watch profits soar!