When it comes to getting talented employees, it can definitely be a seller’s economy where the talent is buying and you are the seller. How many times have you read or heard about the shortage in talented developers? At the end of the day, it can be very difficult to attract talent. But there are some employee perks that will help.
Unlimited Paid Time Off
As I’ve said in another post, I have a full time job working for another company on top of my freelance work. And there, I have 20 paid time off (PTO) days. It doesn’t matter if it a sick day, a personal day, or a vacation day, I can use the same 20 PTO days.
But the last time I took a long vacation was a few years ago because I don’t know if I am going to need my days. Or worse, what happens if I get sick in the beginning of the year and I am forced to use a considerable amount of my time?
You should consider giving your employees unlimited time off. If this is something you're considering, I'd recommend reading this blog post on the pros and cons of doing it.
Personally, I think unlimited time off is a positive thing. While it sounds counterintuitive, your employees aren’t going to take advantage of you. And if they do, you don’t want them working for you anyway. Offer your employees the chance to take the time that they need and you’ll have employees that are constantly ready to get their work done. It’s an easy offering and a lot of other startups offer the same perks.
A Functional and Stocked Kitchen
Make sure that employees don’t have to leave the office if they want to have a cup of coffee or something to eat. While they should obviously be allowed to leave, many times employees would stay at their desk if they could get something to eat in the office.
Here are some of the things you should have: coffee, granola bars, candy, chips, fruit, and tea. Having those things, at minimum, will help satisfy any snacking. And it's cost is made up by making your employees more productive, since they don't have to leave the office to satisfy a quick need.
As a society, we’re in an unfortunate scenario where there are trillions of dollars in student debt. And sometimes, to advance one’s career, it’s necessary to go on to graduate school.
As an employer, you can get tax deductions by helping cover the costs of an employee's education if it's related to their job. This is also a great goodwill perk. People tend to feel better about themselves when they are studying, and this positive association can be transferred to you as the employer if you help subsidize this cost.
One of the qualities that the Millennial Generation has is a strong passion for doing social good. Not only do they want to do amazing work on the products they work on, but there is also a desire to change the world.
But when it comes to finding time to do work and do non-profit work, it can be very difficult. Fortunately, it’s not that hard to give your employees a chance to do non-profit without it having a significant impact on your work.
Through a service like Pledge1Percent.org, you can offer to give 1% of your equity, 1% of your product, and 1% of your time to non-profits around the world. And the group has plenty of opportunities to ensure that employees can give their time to non-profits that matter.
Even if you don’t use a site like Pledge1Percent.org, you can still give your employees an opportunity to leave work early and do non-profit work one day a month or quarter. The important part here is that you have an environment that encourages people to peruse their desire to do good.
Another thing you can offer is company match to non-profits. In essence, if an employee raises $1,000, your company could offer a match of $1,000. You can set a maximum yearly contribution, it’s a tax write-off, and your employees will love it.
Offer the Basics: Healthcare, Disability, 401kIf you partner with a PEO (Professional Employer Organization), you can offer all those three things at a significantly reduced cost. PEOs are especially effective at helping small companies save on healthcare, sometimes as much as $2800 per employee per year. PEOs can also use their group buying power to help you offer 401K for trivial set up fees and best of all, they'll help you manage these offerings in case you don't have HR inhouse.
Offer a Chance to Do Great Work
At the end of the day, the most important perk that any employee is going to care about is the work that they are doing. If the work is boring or unfulfilling, they’re going to leave at some point. Or they might not join at all.
Even though you might not be able to offer the best perks at work, there are other ways to win the talent war. The work is more important than anything, especially since we spend so much time at our jobs.
Learn how to attract and retain top-notch employees.