9 Competitive Business Benefits Packages On A Budget

Free Lunch

Recruitment is hard. Candidates in digital industries are still in the enviable position of being able to cherry pick the best jobs as demand still outstrips supply. Combine this with the gilded benefits packages offered by the likes of Facebook and Google and candidates expectations are pushed even higher.

So, if you’re a business clamouring for candidates and don’t have the budgets of Facebook Inc. then the key is not to worry. Benefits packages can still remain competitive helping to make the difference between your dream candidate agreeing or heading elsewhere. But best of all? It doesn’t have to break the bank.

Here are nine things to include for creating a benefits package that’s competitive:

1. Gym Memberships

Healthy bodies equal healthy minds. Subsidising a membership for your staff at the local gyms helps them to keep fit and experience the benefits of regular exercise which in turn should reward you with a healthier workforce. Just remember if budgets from senior management are tight, simply subsidising memberships can provide the benefit. Even major organisations don’t pay the full fees.

2. Massage & Yoga

Small amounts of stress can be good. Large amounts? Not so much. Ease your employee’s tension by bringing in a yoga teacher or massage therapist once a month to ease their stress away. Calm minds and less tense bodies make for a happier, more productive workforce.

3. Private Healthcare

The peace of mind that that you or your family would be covered should things go wrong can show how you genuinely care about your employee’s wellbeing. And if someone falls ill? Then less hassle and reduced waiting times means they’ll be ready to return to work sooner.

4. Higher Holiday Allowance

If budgets are tight and you’re looking at other means of incentivising your staff then an extra day’s holiday for each year of service can go down a treat. A single day off does not mean much in the grand scheme of things for company productivity but it can prove invaluable for those who plan to work with you in the years ahead.

5. Giving Back

Talking of time out of the office, why not allow your staff a day out to help their favourite causes? Allowing staff to use their time and energy for their favourite charities and organisations helps the local community as well as your business’s brand.

6. Free Meals

They say there’s no such thing as a free lunch. But free (or subsidised meals) can be just the ticket. Laying on a selection of healthier foods can mean improved concentration and general improved wellbeing. Plus, dragging people away from lunch at their desks can provide a useful way of for different teams to engage, bond and share alike.

7. Training

Away from the compulsory health and safety courses that we’ve all been on, giving employees the time off to attend industry events can work wonders. Time away from the office gives them the opportunity to network with other professionals and staff can return with a new set of skills to bring to the table.

8. Friday Fun

Bringing together a team each fortnight for drinks/pizza/games can be a great morale booster. As well as helping to gently switch off for the weekend it allows teams who may rarely get the chance to speak during office hours to help foster new ideas and collaborations.

9. Working Away

With a younger workforce increasingly looking for greater work/life balance why not consider remote working? Your employees get to explore new cultures and countries whilst a laptop, phone and Wi-Fi network is all you need to ensure they remain a fully functioning part of the workforce.

What Will You Offer?

Remember, the more you put into an employee, the more you get out of them; with higher morale, a greater work ethic and increased productivity. Offering these things to both attract and secure staff needn’t cost the earth so what have you got to lose? But bear in mind, no two candidates are ever going to be identical, so why should your benefits be? Instead focus on creating a select package, tailored to the individual. Unnecessary expenditure is kept to a minimum and your candidates both old and new will be happier with what you have to offer.

Joanne Caine

Joanne Caine is the Director of Cathedral Appointments, a leading recruitment agency and consultancy based in Exeter, Devon.