(FREE) Benefits Breakdown: Small Business Perks, Part 2
Unique benefits. Employee surveys. Being fair.
Commentary directly from the video (regular type)
My commentary (italics)
Continued from Part 1. Read that here:
Other benefits
Fun and culture-based benefits can be considered, such as relaxed dress codes, preferred snacks, or stocked beverages. Think about what YOU would like to have at work.
Allowing pets in the workplace can also boost employee satisfaction without significant cost.
Flexible work hours, additional vacation or holiday days, and other scheduling flexibility can be offered. Again, as with paid time off, the only tangible cost here is efficiency. That CAN be mitigated, however.
Providing meals at work or negotiating discounts with local businesses can be considered too.
Creativity in identifying what employees value and aligning it with the company's mission, vision, and values is important for designing meaningful benefits. Create a workplace that reflects your personality and that of your employees.
Speaking of which…
Survey your employees
Conducting a benefits survey helps identify employee priorities. The survey includes a list of potential benefits for employees to prioritize. Employees can indicate their preferences through rankings or checkboxes. An example employee benefits survey is below. Copy or use this as inspiration for your own.
Surveys can reveal surprising results, such as low priority for health insurance. Flexible work hours and more paid time off can be more attractive to employees. Don’t guess - ASK!
Involving employees in the survey process shows consideration and fosters engagement.
If you don’t want to use the sample below, your payroll or HR providers might have ready-made surveys too.
Review the survey results and take action based on the feedback received.
[Company Name] Employee Benefits Survey
Please rate the following benefits in terms of their importance to you
(1 being least important, 5 being most important):
Health insurance coverage
Retirement savings plan (e.g., 401(k))
Paid time off (vacation, sick leave, etc.)
Flexible work hours
Remote work options
Employee assistance programs (counseling, wellness programs, etc.)
Professional development opportunities
Performance bonuses or incentives
Maternity/paternity leave
Stock options or profit-sharing programs
Wellness benefits (gym membership, fitness classes, etc.)
Tuition reimbursement or educational assistance
Childcare assistance
Transportation benefits (commuter programs, parking, etc.)
Other (please specify): _____________________________
Are there any benefits not listed above that you would like the company to consider offering?
Would you be willing to trade certain benefits for others if it meant having a more tailored benefits package? If yes, please provide details.
How satisfied are you with the current benefits offered by the company?
(1 being very dissatisfied, 5 being very satisfied)
Please share any additional comments or suggestions regarding employee benefits.
Thank you for taking the time to complete this survey. Your feedback is greatly appreciated and will help us shape our employee benefits program to better meet your needs.
Important notes about benefits
Offering benefits is not mandatory, but it's a choice for employers. Not mandatory, by law.
It IS mandatory if it’s what your most valued employees (and candidates) need to consider working for you.
Equitable treatment is important when providing benefits to employees. Distinctions between part-time and full-time employees can be made, but fairness should be maintained. Being unfair in the distribution of benefits would likely be at least as bad, if not worse, than not providing benefits at all.
To recap:
Not providing benefits can lead to higher employee turnover and associated costs.
Offering benefits can attract and retain talented employees.
Providing benefits contributes to employee satisfaction and loyalty.
Comment below
Have you ever used an employee survey for benefits? Were the results surprising?
Do you offer any unique benefits to your employees? What are they?