Five Low-Cost Employee Perk Ideas

Posted by Chris Spore on Wed, Jun 01, 2011

By Jonathan Schoonhoven
Long ago, there was an age before offices were filled with beanbag chairs, HDTV’s and black turtleneck-jeans combinations. It was a simpler time. That was the golden age of management: when coffee was black, cigars were Cuban, and interns were neither seen nor heard. Alas, the times have changed. The iron fist has been replaced by the gentle embrace and now a generous employee perks program is the rule and not the exception. Fortunately for you, rewarding your underlings doesn’t have to mean breaking the bank. Throw out the stale doughnuts, here come Five Low-Cost Employee Perks for your business.

#1. Be Flexible

Abolishing the strict nine-to-five workday and rush hour commute is extremely trendy right now. But unlike yo-yo’s, pogs and pretending to care about global warming, this is a trend that might actually make you money. Flexible work hours are part of a larger movement away from tradition towards what the Society for Human Resources Management calls a Results-Only Work Environment (ROWE). Their Best Buy controlled study showed a 45% drop in employee turnover after ROWE policies were implemented, with a flexible work schedule, a telecommuting option, and greater decision-making powers for lower management. That means 45% less time reviewing resumes, 45% lower training costs, and 45% happier employees. Oh yeah, and all the cool kids are doing it.

TIP: To the C-level palette, these liberal policies may taste like an extra-rare slice of commie steak. That sensation will pass. Remember, you are in the profit business — leave the soul-crushing business to the legal department.

#2. Don’t Fight their ADHD

Thanks to television, video games, and all those drugs our parents were doing in the sixties, the average employee now has less attention span than the average mosquito in Charlie Sheen’s jugular. You could fight this, but it’s (a) futile and (b) probably illegal to spike the water cooler with Adderall (check with HR). At the minimum you should be providing plenty of breaks and diversifying employee workload so that no one gets stuck in a rut. Once you’re there, it is worth adding some major entertainment to your employee perks program. Troll Craigslist for an old arcade system, a pool table, a nice TV, some Nerf footballs and anything else that brings out the inner five-year-old. Based on what Google has accomplished with their nap-pods and ball pits, it’s actually pretty tough to go too far*. If you’re employees are “adult” enough to have their toys and still get their work done, this can greatly increase worker retention while simultaneously demonstrating (or giving the illusion) that you respect them.

Tip: *Installing a hot tub in the break room is going too far.

#3. Hypoglycemia is Bad for Everyone

Ask an employee what they want. Tell them they can have whatever their heart desires and you will provide it within the hour. Give them some space while they think — you won’t actually need to hear their response, I’ll tell you right now what it was going to be. Every employee desires only two things: a thick sandwich and a cold drink. This should come as no surprise. Eating and drinking are the two most basic human imperatives, surpassed only by breathing and having mixed feelings about the Miami Heat. A well-stocked kitchen is a hallmark employee perk. Remember, a hungry employee is an unproductive employee, but the opposite is even more true. Providing free food and drinks to your employees is not just a courtesy, it’s a smart business decision.

TIP: You can use BetterWorks to provide your employees with a budget for meals at hundreds of the most popular restaurants in Los Angeles and get access to exclusive discounts from 15-70%. More Info.

#4. Healthy Employees Cost Less Money

I sympathize. Some days it’s hard enough to convince yourself to go to the gym, let alone convince your entire workforce to do the same. But what if I offered you $760,000 to try? Well, if you’re a large employer that’s how much you are already spending in direct payroll costs for unplanned absences—AKA sick days—according to a study by the CCH. And that doesn’t include the even greater costs of reduced productivity, revenues and moral. You may not be able to prevent your employees from getting sick entirely (unless you have a very large laminator and an unusually liberal HR department) but adding a corporate gym membership to your employee perks program will save you money in the long run.

Tip: Offering an optional workout break right before lunch is a great way to build teamwork and keep employees healthy and refreshed. Use BetterWorks for the best deal when you sign up your team to a great gym within walking distance from the office. Learn more.

#5. Host an Event People Might Actually Enjoy

We have all experienced corporate events and team-building exercises that only succeed in building teamwork in that they unite the employees against the people who organized the event in the first place. This is to be avoided. Says Schumpeter of The Economist, “As soon as fun becomes part of a corporate strategy it ceases to be fun and becomes its opposite — at best an empty shell and at worst a tiresome imposition”. Does that sound familiar? Let your employees invite guests, let them choose what (if any) activities they want to do, and most importantly, guarantee there is beer.

Tip: If you’re unsure whether your event qualifies as fun, try this simple questionnaire: (1) Is it mandatory? (2) Will the guest speaker be performing “business magic”? (3) Are employees obligated to climb something, complete an obstacle course or otherwise work together to humiliate themselves in pursuit of some horribly arbitrary Sisyphean goal? If you answered “yes” to any of those questions, you’re employees hate you already.

Photo thanks to georgivar

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Tags: food & beverage, health & wellness, perks, employee retention, employee recruiting

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