Free (Or Almost Free) Employee Benefits

by: Betty Mills

Sometimes keeping our best employees is important and difficult. This is a real challenge for companies looking to retain top-level people without going over budget. Here are some suggestions:

Discounts negotiated with local merchants
Negotiating these discounts is not difficult. Start with your vendors, then your best customers, and end with neighboring firms. Even 10 percent off at your local fast food restaurant will help your employees save while generating business for a neighboring business.

Tickets to local events
We all get these in the mail and frequently leave them lying around until they expire. Consider giving them to your best employees as a perk.

Relaxed dress codes or dress down days
Having one day a week that people are allowed to wear jeans and golf shirts or sweaters costs nothing. If you're concerned about the impression it makes on customers, post signs around the dealership on dress-down days.

Financial planning
Your local Edward Jones office will do these group sessions for no charge. Depending upon who you have handling your 401(k), they may also be happy to provide this service to your employees.

Flex-time for the jobs that qualify
Surveys show that allowing people to set their own hours, even though they work the same number of hours, is considered by many, women in particular, to be one of the most desirable job traits available.Whether your controller works from 8:00 to 5:30 or from 7:00 to 4:30 does not make a bit of difference to you, but it may add tremendously to his or her quality of life.

Written commendations
Consider writing nice letters to your best employees, lauding their performance and attitudes. You would be amazed how much it means to them. Be sure to mail it home where the rest of the family will see it. Write-ups in the local newspaper Getting recognition for your best employees is easier than you think, and costs nothing. Get a press release template off the internet, or call me for a template. Send it to your local newspaper and get free publicity.

Write-ups in the company newsletter
Don’t forget that company newsletters typically serve two functions: they disseminate information you want to get out, and they recognize your best employees. Be sure you’re getting your money’s worth. Legal seminars on various topics of interest Your company attorney will usually have a junior person in the office do these for no charge as a goodwill gesture.

Dry cleaning pickup and delivery on site
One of the laundry services in your community would love to do this for you. Be sure the pickup time is posted and that someone in your organization is responsible for reminding employees the day before.

Direct deposit of paychecks
Believe it or not, this is one of the questions prospective employees want to know about a company when they interview. If you don’t currently have direct deposit, you’re missing the boat. You save in two ways: you don’t have to write checks for most of your employees; and there is no mass exodus on payday to get to the bank. Just be sure you check your state laws before making direct deposit mandatory – in most states that’s illegal.

Shred-It Day
Twice yearly, hire a mobile shredding company and invite employees to bring sensitive documents to work to have them shredded. If you use a commercial shredder, ask them to do it as a complimentary service.

Cross-training for job flexibility and ongoing training
Many companies don’t cross-train employees, because they think it is disruptive. However, studies show that employees value the job security they perceive comes from knowing several jobs within the dealership. Don’t miss out on this opportunity to have a more cooperative workforce while safeguarding your own business interests.