Menu Close

Four Affordable and Effective Employee Perks for Small Business Owners

It’s a fact of working life that cannot be ignored: a happy employee will perform better, and be far more inclined to stay at his or her job. For business owners, this translates into a team of workers that will be more productive and ultimately help to boost profits for the company.

As Forbes notes, companies such as Google and SAP are legendary for their employee perks, and have dedicated a huge budget to help promote employee engagement and retention.

Small business owners can improve their employees’ morale and performance by offering various perks. While smaller companies cannot offer the same massive bonuses and incentives that some of the bigger corporations do, there are still plenty of budget-friendly perks that will make their existing employees very happy, and make the company very attractive to prospective applicants. Below are four examples of employee perks that can raise employee morale, while remaining budget-friendly to the business:

Employees who Eat Together, Work Together

Most employees’ faces light up at the sight of free food. As INC notes, it can also help to boost team unification. By offering a catered lunch once a week or month, small business owners can give their employees a much-needed break and allow them to get together and socialize, enjoy a fun and tasty lunch and get to know their co-workers and bosses a bit better.

Bring Your Dog to Work Day

For small business owners who adore their four-legged friends, offering a dog-friendly workplace can be a great incentive for like-minded employees. Having dogs in the office can help to reduce stress and anxiety, and it can help pet owners know that their pooches are safe and happy with them at work. For business owners who don’t want dogs in the office all the time, consider making every Wednesday “Bring Your Doggie Day” and stock the break room with a bowl of Milkbones and large bowls of water.

Spring for New Smartphones

Another great perk is offering employees new smartphones. In addition to being an attractive perk, small business owners also can contact the employees in case of an emergency. Treating employees to a new smartphone doesn’t have to be an ultra-expensive endeavor; for example, many service providers offer small business plans and phones for zero down with the purchase of a smartphone contract.

This also gives the business an opportunity to streamline certain aspects of their business processes. For example, employees that are responsible for tracking their business receipts and daily accounting information can use apps such as LedgerDocs to record and share their documents with the finance department, which can save time in the long-run.

Let Employees Work From Home

Some of the nicest perks don’t require small business owners to spend any money at all, notes The Muse. Rewarding employees for outstanding service and productivity can be as easy as offering them the chance to work from home one or two days a week. They can even earn a free day off of their choosing. To choose who earns these special privileges, business owners can use tangible data like the results of customer service satisfaction surveys or the highest sales numbers for a particular time period.

As we know, a happy and engaged workforce is a high performing workforce, and creating a workspace that promotes employee engagement and camaraderie does not have to break the bank. The four perks above are examples of small things that business owners can do that increase employee morale, and creates an open and renewed work environment. Not only that, it also has the ability to make your business more attractive to current and prospective employers.

Want to know how these employee benefits can effect your year end taxes? Get in touch with one of our accountants today to develop a tax strategy and see how we can help.

 

We provide a customized bookkeeping services for your business:

Contact us to learn more about our Small Business Bookkeeping Services and see how our team can help streamline your financial processes and bring your business to the next level.

Posted in Blogs, bookkeeping