Five employee perks small companies can implement to compete with larger employers

Posted on: May 10th, 2017

Company perks are seemingly becoming more elaborate. Google offers everything from nap rooms to free branded bikes, while Facebook reportedly contributes financially towards helping female staff freeze their eggs.

So, the big question is: can smaller firms compete with these big company perks?

As a recent HR News article discusses, these larger companies have the financial means to offer staff extravagant perks, leaving smaller companies worried they can’t afford to compete.

One of the biggest financial challenges facing SMEs is that, with a more limited budget, it can be hard to find perks that will make every member of their multi-generational workforce happy.

Younger workers may be drawn to personal wellbeing perks, while financial benefits may be of more interest to middle-aged employees.

While elaborate perks, such as Google’s massage rooms, might attract plenty of media attention, there are still plenty of conventional and affordable benefits that employees will value – especially once the novelty of these other perks wears off.

According to AXA PPP healthcare’s small business experts from the Business Health Centre, these are the five top employee perks smaller companies can offer to attract top talent:

Employee wellness programmes

You only have to have a quick scroll on your Instagram feed to know that health and fitness are taking over as key concerns for many of us. Show you care about your employees (and reap the benefits of having an energised and motivated workforce) by offering local gym membership discounts, employee healthcare cover, or even consider starting a team sport in the office – lunchtime yoga is a great example.

Free food

Ever seen the joy that spreads around the office when someone announces they have brought in some baked goods? Why not be the one to provide the joy? Whether it’s something as simple as free fruit, or weekly lunches, employees will really appreciate the gesture.

Allow employees to have birthday off

Holiday days are a very precious commodity, but by offering all employees the chance to take their birthdays off, this will not only give them an extra day of holiday, but it gives you a perk that doesn’t require complex admin.

Out of work events

Organising a summer party or getting involved in a local sporting competition over the weekend are great ways for employees to get to know each other. In the long run, this will improve teamwork and could foster collaboration between staff.

Flexible working

Employees increasingly view having a work-life balance as an important factor, and many companies are working on this by providing their staff with flexible working options. One of the benefits smaller companies have over larger ones is that they can often be a lot more flexible, so use this to your advantage.

Implementing employee perks shows your current workers you value them and will help you attract the top talent. If you’d like help with your next hire, or to talk more about the types of perks candidates are expecting nowadays, get in touch with the team at Lucy Bristow today.

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