7 Benefits to Retain Employees in Your Small Business

The covid-19 pandemic sparked The Great Resignation, as many employees chose to resign from their jobs. As a consequence, small businesses are currently having a difficult time retaining employees. Since smaller companies typically cannot afford to offer the same benefits as larger enterprises, it’s essential for business owners to do what they can to keep their employees as satisfied as possible. Fortunately, there are several benefits that small businesses can offer to help keep their employees happy and make them feel appreciated.

#1 - Health & Wellness Subscriptions

One way to show your employees that you care about their well-being is to offer them health and wellness subscriptions. This could include a gym membership, access to online fitness classes, or even a discount on healthy foods. Not only will this help your employees stay healthy, but it can also improve morale and encourage team camaraderie.

If your team works remotely, then even access to a mindfulness or meditation app can go a long way in terms of supporting their mental health and wellbeing.

#2 - Remote Work Options

The pandemic has led to an increased demand for remote work options. Employees prefer the flexibility that comes with being able to work from home or elsewhere. Therefore, it is important for small businesses to make a firm commitment to offering flexible and remote working opportunities. This can include allowing employees to take their laptops home, allowing them to work from home a few days a week, or offering access to co-working spaces.

#3 - Flexible Hours

Many employees prefer working flexible hours. For example, they may want to work from home in the morning and then come into the office later on in the day or vice versa. In general, people like having more control over their schedules instead of sitting at a desk for nine straight hours each day.

This is especially true for parents who need to take their kids to and from school or daycare. Offering flexible hours can help them better manage their work-life balance so they do not feel overwhelmed with having to juggle too many responsibilities at once.

In addition, flexible working hours will allow your employees the opportunity to have a life outside of work by allowing them time for personal projects, errands, and social engagements.

Offering flexibility also demonstrates to your employees that you trust them. This could make them more likely to go the extra mile for you and your company.

However, it is important that employees who work flexible hours are still committed to finishing their projects on time so they do not fall behind or negatively affect other members of the team.

#4 - Volunteering Opportunities

Organising volunteering opportunities is not only great PR for your small business, it also boosts staff morale and helps employees feel good about themselves. Giving your team the opportunity to help out in their local community can be a rewarding experience for everyone involved.

You could organise group volunteering events, or simply provide information on opportunities that employees can take advantage of independently.

#5 - Employee Discounts

Another great way to show your employees that you care is to offer them discounts on your products or services. This could include a percentage off their purchase, free shipping, or even a free product or service every few months.

Employees will appreciate the gesture and feel appreciated by your company. Plus, it can help to increase loyalty and encourage word-of-mouth marketing.

#6 - Partnership Discounts

If your small business has partnered with other local businesses, then consider offering your employees discounts at those establishments. This could include restaurants, bars, or even stores. Employees will love the opportunity to save money on their everyday expenses, and it can help to strengthen relationships between businesses in your community.

#7 - Employee Recognition

Recognising employee accomplishments is a great way to boost morale and make your employees feel valued. You could acknowledge individual achievements with an email or even announce them at the next staff meeting.

Rewarding employee achievements can encourage others to do their best, as well as maintaining high standards of performance throughout the company.

Final Thoughts

Small businesses often struggle with retaining employees. However, by implementing some of the strategies listed above, you can create a workplace that your employees will love and want to stick with for years to come.

Ready to attract and retain top talent? Contact the team at Thrive CA to see how we can help you put the foundations in place to help you build a strong and successful team!