One easy way to help keep employees motivated is to provide extra perks. This time of year many employers shell out big bucks in holiday bonuses and/or holiday parties. Revenue may be lower due to a decrease in time spent on tasks. Why? A high number of vacation days used, extra “water cooler” time spent discussing the holidays, holiday planning at their desks, etc. It becomes a financial challenge for many employers to provide these perks that have become expected.
As a business owner, you want your employees to feel appreciated and to be happy in their work environment. Is there a way to achieve this without spending a fortune? The answer is yes and here are some ideas!
- Talk with your vendors. You provide them with business throughout the year and help keep their business profitable. See if they would be willing to offer discounts directly to your employees.
- Talk with local merchants. Perhaps you can make arrangements to offer discounts to each others employees.
- Professional associations may have agreements for discounts to their members. If so, see if you can extend these discounts to your employees.
- The gift of time is always a cherished perk. Depending upon your business structure, there are different ways to make this manageable. One way is to change the working hours to four ten-hour days thereby providing your employees a three day weekend every week! Another way is to have a rotating schedule for employees to add extra time to their lunch hour or leave early for the day. An hour here and there may not affect your bottom line too much or may even improve it by keeping your employees motivated and happy!
Of course, not all perks are free, but the benefits of providing them can be great. If you would like to offer perks to your employees, but cash flow is a challenge, speak with one of the business consultants at National Business Capital. We can discuss the options available to provide you with the cash flow you need.