Smaller companies bring great value to the workforce by fostering close-knit relationships with more individual approaches. But it can be hard for smaller employers to provide the fancy benefits offered by larger corporations. In a recent conversation with a small employer, they were lamenting not being able to provide a highly valued benefit offered by their larger competitors. So, I posed the question “what CAN you offer?” They were so focused on not being able to offer one thing that they missed the option of offering something.
If you are a very small company unable to offer medical benefits, what CAN you offer? You can offer an introduction to a benefit broker even if you are not paying into the premium. You can offer a worktime presentation for said broker to present some options to employees. If you find a broker that pools together multiple clients for group rates, this can be more affordable than you think. That may not sound like much but, when employees do not know how else to get benefits, it can be a goldmine of information.
If you are not able to offer a 401k match, what CAN you offer? You can invite a financial advisor to set up an informational table in the breakroom or assemble some packets to hand out to employees. My friend, Jesse Arcobasso with Edward Jones, focuses on bringing options to small and mid-size employers. A phone call to a subject matter expert, like Jesse, can open up a number of ideas you may not have thought of on your own.
If you are not able to offer 5 weeks of paid vacation, what CAN you offer? Consider flexible start times, compressed work weeks, remote work, or letting an employee’s child hang out in the breakroom after school while they finish up their last hour at work. Schedule flexibility can reduce the need for time off.
Tell employees about the great things you CAN do. A response of “no, we don’t have that” makes employee satisfaction fall flat on its face. Make a point to leave employees with options. Providing a point of contact or sharing helpful resources will help employees to know how to take action to move forward. And you still get all the credit as a supportive employer!
As a small employer, one of your greatest superpowers is flexibility and knowing your employees well. Use that to your advantage. Employees have needs, so offering something can send a great message that you understand those needs and are doing all you can to help.
What creative benefits have you offered to add value while keeping costs low? Share your ideas!
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