Perks vs. Higher Pay – Which Will You Choose?
You want to hire the best people for your small business, but at this time you just can’t pay the same high salaries as some bigger companies. That doesn’t necessarily put you out of the running for some of the best talent.
If you can’t match the salaries of some of your competition, then beat them by offering perks that potential employees will find hard to resist.
Now more than ever, employees know the importance of balancing work with family and their other interests. Fewer and fewer people are willing to put in 80 hour weeks at the cost of never seeing their children.
For this reason, the following perks may be able to lure someone away from a higher paying position.
Telecommuting
The opportunity to work at home is appealing to people for many reasons. They can be at the bus stop to meet their older children after school. Pets won’t need to be left alone all day.
In addition, it effectively cuts the time off of their work day, because there is no commute. Also, they save the cost of gas and expensive work wardrobes. This won’t work for every position, but for some it’s perfect.
Even if the employee can telecommute part-time (i.e. 2 days in the office and 3 days telecommuting) it’s a big benefit.
Bringing Children to Work
This is not feasible for every small business, but if you have a situation where an employee can bring her children to work – even some of the time – that will be a huge benefit.
The cost of daycare continues to rise, and many parents fret about the lack of trustworthy child care providers. Sometimes all it takes is a private office with a crib or playpen.
Or, if you have several employees, it could be worth it to set aside a day care room and hire a couple of child care providers on site.
Flex Schedules
Offering flexible scheduling in which the employee can choose her hours is a perk many will find irresistible.
Many small businesses can accommodate varying schedules without much of a problem. This is a way to give your employees a great benefit at no extra cost to you.
Be creative, and offer perks that will bring the best talent to your door – even if your salaries are a bit less than the competition.
