Bonus Employee Benefits
Go the extra mile for your employees
In our recent blog article "Essential Employee Benefits", we outlined the four most basic employee benefits, and explained how they create value for both your company and your employees.
Eduction & Technology Stipends
Education and technology stipends are regular payments that help employees cover the cost approved purchases - usually which are mutually beneficial to the company and the employee. Employees improve their knowledge and skills with education programs, and purchase the latest technology to use for work purposes. The stipend can be paid in cash monthly or put into a company-controlled savings account, from which the employee can only make withdrawals to be reimbursed for approved expenses.
Flexible Work Plans
Flexible work plans allow employees to work during the hours and in the locations of their choosing. Leading companies have long recognised that "butts in seats" is not an indicator of productivity. And employees appreciate the respect and confidence that flexible work plans signal. After all, an employee who is not chastised for arriving 15 minutes late is more likely to stay an additional 30 minutes to finish a task. And an employee who is permitted to work from home or a cafe may find the change of scene gives them fresh inspiration.
Profit sharing allows your employees to share in the success of your company, thus aligning incentives and increasing employee commitment. Programs range from performance bonuses to ESOPs (employee stock option plans). Performance bonuses are most effective in motivating employees to achieve short term goals - like a quarterly sales target. ESOPs drive long term commitment, allowing employees to become investors and part-owners of the company.
Your company already provides coffee and tea, so take it a step further - and provide snacks too. Employee don't perform well when either sleepy or hungry. A regular flow of healthy snacks will provide your employees with the fuel they need throughout the day, increasing employees' moods and performance. Just be sure to stick to fresh fruits and veggies, whole grain breads and similarly healthy items - candy and chips can lead to energy crashes and unhealthy habits.
Drop us a comment below. Let us know which of the employee benefits listed above is most popular with your employees. Or share a favourite employee benefit that's not (yet) on our list.
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