You have heard the phrase “happy employees make for more successful companies,” right? It makes sense if you think about it, if you have a happy employee they tend to be more loyal to the company and their productivity tends to be higher. When a company has happy employees who are productive the company will in turn need fewer employees, saving money in the long run.
In a recent survey, employees were asked which benefits they feel they should be offered from their employer.
- Medical insurance
- Retirement Plan
- Disability Insurance
Seems like a tall order coming from a person that you are paying an hourly rate to in the first place, right? Maybe so, but if you invest in your company’s employees those employees will feel that the company cares about them. Making your employees happy can, in essence;
- Decrease employee call offs
- Increase employee productivity (in turn increasing a company’s profits)
- Increase employee loyalty
- Decreased rate of walk offs and no shows
If your company invests a small amount into things that are important to employees you can in turn build a better company. One thing to keep in mind is, as a company you do not have to provide the top of the line benefits, benefits like big wigs like Bill Gates might be getting, that will end up costing you more than you would make back, what I am saying is provide a basic benefit package that tells your employees I am a “good catch and value to this company.”
As a business you do not have to spend a small fortune to provide quality benefits to your employees, there are all kinds of programs out there and companies that can help you determine which form of benefits would work best with your company and your employees. Most companies only offer benefits to those employees who are considered full time employees. This can save your company some money as well because certain businesses only have a specified amount of employees hired as full timers.
We have all heard the popular phrase “You have to spend money to make money.” This phrase has never rung truer than it does when employee benefits are concerned.
