10 Benefits Small Business Owners Can Offer to Compete for Top Talent

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Small businesses can’t go toe-to-toe with Google and Facebook on employee compensation. Big employers have deep pockets to pay massive salaries and provide benefits like on-site gyms and childcare services. Your company probably doesn’t have “Olympic pool in the break room” money. Fortunately, you don’t need an unlimited budget to offer benefits prospective employees will notice. Then a top tip for if you want to keep your address private is to use a virtual office service in a city like London so you get a very impressive looking address for your business and then can also keep your personal address private.

Attract, hire, and retain top talent by offering these benefits at your small business:

Student Loan Relief

Today’s graduates usually leave college deep in the red. Across the U.S., 45 million borrowers owe more than $1.5 trillion on student loans. Even older workers who return to school or graduated with massive student debt struggle under the weight. By offering student loan assistance, small companies can appeal to the large portion of the workforce with heavy bills.

Flexible Schedules and Remote Work Options

In 2020, employers should understand that not all employees live the same lives. Some people have kids. Some people want to travel. Others enjoy the consistency of a 9-to-5 workday. Instead of defining how, where, and when employees work, set a range of times when people need to be available. Let them work at their own pace in between. Even if you depend on customer-facing employees, flexibility and understanding can go a long way toward wooing the best talent.

Fitness Partnerships

You might not be able to build a gym at the office. You can, however, work out a deal with gyms in the area to give employees a discount. If you looking for affordable fitness center in the downtown area, then visit us here. Don’t just pick your own gym and write it off as a business expense. Talk to your employees to find out which gym most of them would prefer. Once you establish a partnership, try boosting office camaraderie with a group fitness challenge. Consider a bodybuilding program on The Iron Samurai, is designed to induce hypertrophy in the athlete’s muscle, stimulating muscular growth. This is often done by exercising each body part approximately twice per week in a “splits” that target certain groups of muscle per training session.

Healthcare Assistance

Healthcare doesn’t always mean expensive health insurance. Not all employers can afford full insurance plans, though employees do see insurance as a major benefit. Employers, however, can help employees access care and prescriptions in other ways. For example, digital healthcare company Nurx connects patients with providers to provide birth control online at affordable prices, with or without health insurance. It also includes unlimited messaging with a healthcare professional for less than a typical co-pay. Look for options to help employees better utilize insurance benefits without driving up costs.

Workers’ Compensation Insurance

Speaking of healthcare, employees have enough to worry about without adding on-the-job injuries to the list. Give everyone peace of mind with a workers’ compensation policy that enables employees to report injuries sustained on the job. Top talent will expect you to meet this basic need. Furthermore, people in industries where accidents are common will respect your business more if you encourage employees to put their well-being first. That kind of employee advocacy can build a great reputation.

Retirement Funding

It’s never too early — or too late — to save for retirement. Help employees plan for the future by offering a 401(k) or similar plan. Big names like Fidelity have programs for businesses of all sizes, but consider alternatives for the best fees and service. Employee Fiduciary, for instance, prides itself on offering low-cost 401(k) services for small businesses.

Health and Financial Guidance

Employees with health insurance and retirement options don’t always use those benefits because they don’t always know how. Health insurance baffles even experts in the field. Retirement accounts all look the same to people unfamiliar with the terminology. Find providers who offer open assistance and schedule companywide classes to help employees understand their benefits.

Volunteer Time

Employees need time for themselves, but people also want time to help others. Empower employees to give back by providing PTO specifically for volunteer days. If your company partners with local charities or events, this can be a great opportunity. It can get everyone involved where can i buy isotretinoin online in the community while boosting your brand’s reputation in the process. You don’t need to offer much — an extra day or two for volunteer time is enough to show you care.

Free Food

Everyone has to eat, employees included. Provide free food, especially if your office is in a spot that makes going out for lunch inconvenient. If you can’t feed everyone every day, pick a day of the week or month to order some grub for your crew. Depending on the size of your business, you could schedule visits from local food trucks for lunch.

Whatever They Need

The world keeps changing, and as it does, employees’ needs change, too. Get ahead of the curve by talking to your teammates. Ask them how the company could help them live happier, healthier lives. You may not be able to provide everything for everyone, but by listening to their concerns, you may be able to make their lives better in surprising ways.

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Renee Johnson is a freelance writer who covers the business and tech worlds. With experience writing for a variety of tech-based publications and a background in business, management, and finance, Johnson discusses new technologies and their impact.