Ranking close behind receiving a fair salary — employee benefits, offering work-life balance options and recognition of contributions can go a long way toward keeping employee satisfaction high. Since the cost of staff is typically in the top three expenses for most companies, keeping employee satisfaction high and turnover low can be key to profitability.|
Generous personal time off (PTO) policies such as starting employees off with three weeks of paid vacation a year provides a huge incentive for attracting (and keeping) new talent. Offering flexible work arrangements, the option to telecommute and/or work part-time help give employees control over their schedules and also help to increase job satisfaction.
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These options may not be feasible for your company; however, there are many benefits you can easily implement that help to increase employee satisfaction and demonstrate you value your employees’ contributions.
Cost-effective perks can help
Here are some affordable perk ideas for improving your employees’ job satisfaction and reducing turnover:
- On-site chair massages
- Dry cleaning service — pickup and delivery
- Weekly or monthly continental breakfasts
- Complimentary cab rides home for sick employees
- Reimbursements for personal hand-held devices
- Time-off certificates for recognition of excellent service
- ‘Take your birthday off’ day
- Department appreciation dinners
- Free concierge service to handle chores such as mailing packages, getting car oil changed, etc.
- Bring your dog (pet) to work day
- Error-free payroll processing
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Can you top these perks?
In addition to national prestige, solid bottom lines and competitive salaries, the companies that make Fortune’s 100 Best Companies to Work For also offer employees some awesome perks. Check these out:
- Tickets to big-venue concerts or sporting events offered in office raffles (Bingham McCutchen, Ranks No. 60)
- In-house premieres, such as early TV episode screenings (Discover Communications, Ranks No. 79)
- $50,000 or four months’ salary (whichever is greater) to an employee’s surviving family if an employee dies during tenure at the firm (Ernst & Young, Ranks No. 78)
- ‘Workout on Wheels’ cart offering mini-workouts or relaxation sessions (Intuit, Ranks No. 8)
- Salaries for summer interns, as well as relocation packages(Qualcomm, Ranks No. 32)
- An ‘Equipment Rodeo’ with prizes after completing training to operate this company’s heavy equipment (Kiewit, Ranks No. 99)
- Three winners of this company’s annual talent show opened for Bruno Mars in Las Vegas at the Global Sales Conference (Google, Ranks No. 1)
- Holds a “We Love Our Employees Day” every Valentine’s Day with special treats (The Container Store, Ranks No. 28)
- Rich incentives for employees to rent or buy in the city rather than in the ‘burbs (Quicken Loans, Ranks No. 5)
- ‘Snooze or Cruise’ certificates for coming in two hours late or leaving two hours early (Cooley, Ranks No. 100)
Source: Fortune’s 10 top perks from Best Companies 2014