This past year has been challenging. As a business, the most valuable asset you have is your employees, and when they’re happy, they’ll put in extra effort to make sure that your business is a success.
For many employees, the salary you offer is only part of the equation when it comes to deciding whether or not they want to work for your company. Many people also consider perks and incentives, so make sure you’re offering something they’ll find beneficial. To ensure that your employees feel like an important member of the team and are satisfied with their job, here are some perks and incentives you should budget for in 2021.
1. Work From Home Options
As COVID spread across the world, many businesses had to let their employees work from home. It may have been challenging at first, but after a while, most employees settled into a routine and figured out how to be productive and successful outside of the office.
When 2021 rolls around, you might consider giving employees the option to work from home. This can reduce a lot of stress about getting sick while in the office or commuting to work. Whether you allow this for only a few days a week or the employee gets to make their own schedule, it could ensure that everyone stays productive and focused.
2. Gym Memberships
After being stuck inside for the vast majority of 2020, your employees might find that they have put on a few extra pounds or weren’t as active as they have been in the past. As a way to help them get back into shape and feel good, you should offer them gym memberships.
Being able to go to the gym is also a great way for employees to lower their stress levels. Lower stress means happier employees. With a gym membership, they’ll be able to take care of themselves so that they can give the business their all. And healthy employees are more productive and take fewer sick days. Many health insurance providers will also offer a discounted rate to employees with a gym membership because living a healthy lifestyle saves on healthcare costs down the road. So gym memberships are a great perk to offer employees with benefits for everyone.
3. Self-Care Packages
One of the things that 2020 taught a lot of people was how important it is for them to engage in self-care. If they didn’t take the time to do something for themselves that didn’t involve work or kids, they probably found themselves burnt out. When employees reach that stage, it’s hard for them to focus and do their best work.
To ensure that your employees are taking care of themselves, you might consider putting together some self-care packages. These can include gift cards to get a massage or go out to a nice dinner, a basket of healthy snacks or even movie tickets so that they can get away for a few hours for some mindless fun.
You might even consider giving them an afternoon off during the week (or once a month) to spend time how they see fit. This may be all that they need to feel good about themselves and stay focused at work.
These work great as team outings too and help foster strong working relationships across the company.
4. Prepaid Rewards Cards
There are few things employees like more than cold hard cash, and while prepaid debit cards aren’t cash, they’re just as good. You can place orders for gift cards in bulk, making it easy to have on hand for a last-minute reward for a job well done or to send out company-wide for holidays and other important celebrations.
Some prepaid gift card providers even give you the option of customising the cards so you can put your own branding on them or add a special message to commemorate the occasion. Prepaid rewards cards are great because they’re versatile and your employees can use them just like cash to buy whatever they’d like. So you don’t have to worry about wasting money on a gift they potentially won’t enjoy since gift cards are like cash.
5. Health Insurance
Offering your employees health insurance is a great way to let them know how much you care and want them to be happy and healthy. Whether they’ve been with your company for years or you are trying to attract new talent, health insurance is a perk that many people are looking for.
The cost of offering employees health insurance may seem like it’s going to break your budget, but you get benefits as well. When employees have the ability to go to the doctor and take care of minor issues, there is reduced absenteeism. That means they’re at work more. Health insurance lets your employees know that they are valuable and that you care about them, and they’ll repay you by working hard.
6. Paid Time Off
Budgeting for this perk in 2021 will ensure that you attract and retain top employees by letting them know you appreciate the work they do to make your business a success. Coupled with health insurance, paying for these perks can keep your business running smoothly and efficiently.
Take Care of Your Employees
Your employees are the foundation of your business, and if you want to be a success, you need to make sure they are being taken care of. Finding a way to budget for some incentives and perks in 2021 is the best way to let people know how much you value them. Even if you don’t have the budget to do a lot, find something you can do to show how much you appreciate your employees. It’s an investment that will payoff in the long run because happy employees are productive employees.