Employee Benefits: Ideas and Best Practices

From a young age, we’re ingrained with a simple idea. “When I get rewarded for doing something, I want to do more of that thing.”

Employee rewards aren’t a replacement for sufficient compensation. Rewards are like gravy on the biscuit. But, don’t overlook the importance of going beyond a paycheck.

If you don’t have a Google-sized budget, that’s okay. Small businesses can still offer benefits of all shapes and sizes.

There’s a win-win benefit to having a team lunch. Your employees will feel appreciated, and as a leader, you can build a closer-knit team. And as a result of being in the room, you’ll learn more about your team members’ communications styles.

But if a pizza party just isn’t in the budget, don’t think you can’t offer rewards. Don’t underestimate the power of a handwritten card in today’s digital age. A card written to your team member’s spouse or close family member can have extra impact.

For verbal praise, the more specific you can be, the better.

Here are some ideas to steal:

Optional remote work

Free lunch days

Student Loan repayment – up to $5,250 per year

Tuition Assistance – up to $5,250 per year

Financial Counseling

Team lunch

Team happy hour

1 hour massage gift card

Branded swag

Car wash and detail

Gas for a month

1 month VIP parking

Lunch for a week

Visa gift card

An office for a month

Travel gift card

Annual subscription of your choice

Paid vacation (cost of travel, not time off)

Hear more about this topic on the One Step Better podcast.

Plus, learn how to get an extra bonus out of offering employee rewards – added strength to your leadership abilities.