Low Cost Perks Improve Employee Retention and Engagement
Once you have hired top talent, you want to protect your investment and encourage your workers to remain with the company. One of the most effective ways to create a stable workforce of happy, highly-engaged employees is through the effective use of perks. Small businesses and startups seeking profitability may not have the resources to provide meals, branded apparel, and on-site services. Fortunately, there are many low-cost ways to recognize excellence and show appreciation for your employees.
A Night Out on the Town
Movie passes, purchased at a discount at a local warehouse store, is a great way to say “thank you” to employees for a job well done. For less than $20, you are giving the experience of a fun afternoon or evening with a friend or loved one, being entertained by the film of their choice. Add a $50 gift card to include dinner as well as the movie. Alternative ideas include concert tickets, museum passes, or admission to one of the many festivals and events in the San Francisco Bay Area.
An Opportunity to Give Back
A donation made in the employee’s name to the charity of his or her choice may mean more than a corresponding bonus paid directly to the worker. Perhaps it is a cause they care about or their child’s sports team, allowing them to choose how and where the funds are spent can be meaningful. Alternatively, consider giving the employee time off with pay to volunteer, either at a local non-profit or at his or her children’s school (if applicable). In both cases, you send the message that you care not only about the employee, but also about those people and causes that matter most to him or her.
For the Animal Lover
If the employee being rewarded is a pet owner, consider a gift that directly applies to the pet - reimbursement for a vet checkup, a gift card to a local pet store, or even the creation of a policy that allows workers to bring their furry friend to work. Acknowledging this important relationship will improve employee morale and loyalty.
If your business permits, you may be able to allow the employee to take a longer lunch or to leave early on the day before a holiday weekend. The additional time may jumpstart a weekend getaway before Silicon Valley traffic piles up. In the case of a longer lunch, an additional hour or two may allow a daytime meet up with a spouse or loved one who works too far away to see under normal circumstances.
Praise and Recognition
Public praise and private recognition are wonderful ways to let employees know that they are valued. Understand that some employees may prefer one over the other. Generally speaking, Millennials love being recognized in a public way. For someone who does not enjoy attention directed toward them, a heartfelt card or thank you note will mean more than being applauded in front of the entire team or department.
Menlo Partners Call to Action
We hope that the above tips will help you retain your best employees, but some turnover is inevitable. When that happens, Menlo Partners Staffing is available to help you identify qualified workers who are matched to your culture and values. For further information, contact our talent acquisition experts today! Thanks for reading.