How to survive and thrive against your big company competitors.
Your competitors are offering an in-house gym, fresh Starbucks to order, free yoga and groundbreaking childcare services. You may be thinking, “How can I compete with that?” The answer is: you can’t. Thankfully we have researched and developed simple and cost effective solutions to give you a competitive edge.
Those perks come with a steep bill that entrepreneurs and small businesses simply can’t fit in the immediate budget. You’re growing and want to offer your employees the absolute best, but before you bankrupt yourself hiring by a barista, let’s walk through the benefits and perks that your small company can actually afford to appeal to potential employees. Because in the end, it really is the small details that make a person’s day go from good to great.
Create Less Bureaucracy
Large companies can dazzle with the occasional reward, but nothing can compare to the gratification of being able to take a risk on your idea and seeing it pay off. If you have an employee with a big idea, nurture and support their attempt at improving the project, product or process as much as possible. Large corporations see the profitability in the existing, not in the future. Do endless possibilities create a better work environment? Successful small businesses think so, which is why they support wild ideas and encourage employees to make a difference for the better. When evaluating the direction of your business, ask yourself questions that reveal your company’s bureaucracy. Once you know the red tape to cut and how you plan to reward initiative-taking employees, you’re set to make a more effective and efficient environment.
Telecommuting is one of the greatest perks any company can offer their employees. Successful companies understand the importance of being able to work from home, whether it is one day a week or in a full-time remote position and with today’s technology, we know that being connected and efficient does not require having a body under the roof. Worried about productivity? Studies show that productivity for those who work from home is typically 20% higher than those in the office and remote employees tend to quite at half the rate of people in the office.* Experts attribute this to a quieter work environment with people starting their day earlier and with fewer breaks to get their tasks done.
Provide Professional Development
Hiring employees that are hungry to learn will benefit you most in your small company. Because there are fewer people and a lot to accomplish, your employees will benefit most when they are eager to learn a broad stroke of skills in the workplace. Someone who willingly picks up a challenge or task that isn’t under their direct responsibilities is a shining star that will bridge the gap in positions while you grow. It benefits employees looking to transition roles, gain new soft or hard skills and can build a great cross-functional work environment. A great way to start building your hybrid employee empire is through pairing employees with interests and strengths to projects and teams where they can thrive. Get to know your people and they’ll get to know more about your business.
The Family Discount
If you are a company that sells a product or service, providing a generous discount to your employees can help them “live the brand.” They will be more inclined to support the company, use the product openly, and make positive recommendations to friends. Don’t forget the additional perks like reimbursing gym memberships, hosting free “lunch & learn” events or arranging a discount with a mobile service provider. Many of these vendors, especially locally owned, are willing to work with other small businesses to mutually gain new customers and build loyalty. You’ll find a small reimbursement to your employees through a free lunch, swag or membership will go a long way towards morale.
Give Guilt-Free Getaways & Flexible Schedules
Life happens. We get sick, we have a family emergency and frankly, sometimes we just need to get away for a little while. One of the most rewarding perks you can offer your employees is a guilt-free sick day or vacation with their family. Highly underrated and oh-so-appreciated, you’ll make a positive environment for your team with an empathetic understanding towards each other when you encourage employees to take time for themselves and their family. In addition to a guilt-free environment, offering flexible schedules can be a great way to encourage a great work-life balance and increase productivity. Trust and autonomy through flexible schedule environments is proven to increase productivity and morale.
Building these perks can reap great rewards for your employees and for your company’s future. Employees who feel valued, trusted and empowered are not only more prone to stay with you for a long time but will be your biggest brand ambassador to those seeking new employment or inquiring about your product. Marketing yourself as a company that will work just as hard for your employees as they work for you will gain the competitive advantage you need to build your dream team for the long haul.
You’ve made some great improvements, but how do you begin spreading the word? Getting your name and benefits information circulating in the industry through a staffing agency is a sure-fire way to guarantee that you are delivering a positive message regarding your company and benefits package. Using a firm with skilled recruiters will give you an active voice that is enthusiastically spreading the word about your brand in a positive light.
Ready to take the first step? OpenArc is skilled in corporate organization and benefits evaluations, which means we can build an outreach plan that is right for you to grow at the pace you desire and in the direction you’ve always dreamed of to meet your goals. Reach out to one of our experienced advisors today to get started!
*Research study completed by the Harvard Business Review.