As the president and CEO of BCG Advisors, Bill Scuorzo helps small businesses generate revenue in a sustainable way over the long term. Because of his work with small and medium-sized startups, Bill Scuorzo is interested in aspects of the workplace like employee benefits. When finding work, prospective employees prioritize certain employee benefits over others.
Choosing a company's benefits package serves a greater purpose than attracting the most qualified employees. A benefits package that accounts for financial and personal wellbeing equally demonstrates that the company cares for their employees as people. Not only will individuals experience higher morale, and work better with their peers, but they will stay in their jobs longer, decreasing company costs in training replacements.
In a 2020 survey, the human resource management software firm PeopleKeep compiled the top eight employee benefits. Some of these benefits were tangible, like working in a pet-friendly office, which saves employees money on pet-sitting services and increases their wellbeing due to ready access to their pets. Free on-site food, through company-operated cafeterias, also increased employee morale. PeopleKeep suggested that employers pair free luncheons with continuing education sessions to ensure employees are engaged.
Some employee benefits, though highly sought-after by job seekers, are more difficult for small and medium-sized businesses to fulfill. Survey participants explained that paid time off (PTO), healthcare benefits, and flexible hours were important factors when choosing an employer. Offering PTO at an acceptable rate for employees may prove challenging for these businesses, as well as accommodating remote or hybrid work. However, by providing benefits that fulfill the same purpose, like healthcare reimbursements or experimenting with a four-day work week, a company can help employees care for their mental health and work-life balance, increasing their productivity.
Choosing a company's benefits package serves a greater purpose than attracting the most qualified employees. A benefits package that accounts for financial and personal wellbeing equally demonstrates that the company cares for their employees as people. Not only will individuals experience higher morale, and work better with their peers, but they will stay in their jobs longer, decreasing company costs in training replacements.
In a 2020 survey, the human resource management software firm PeopleKeep compiled the top eight employee benefits. Some of these benefits were tangible, like working in a pet-friendly office, which saves employees money on pet-sitting services and increases their wellbeing due to ready access to their pets. Free on-site food, through company-operated cafeterias, also increased employee morale. PeopleKeep suggested that employers pair free luncheons with continuing education sessions to ensure employees are engaged.
Some employee benefits, though highly sought-after by job seekers, are more difficult for small and medium-sized businesses to fulfill. Survey participants explained that paid time off (PTO), healthcare benefits, and flexible hours were important factors when choosing an employer. Offering PTO at an acceptable rate for employees may prove challenging for these businesses, as well as accommodating remote or hybrid work. However, by providing benefits that fulfill the same purpose, like healthcare reimbursements or experimenting with a four-day work week, a company can help employees care for their mental health and work-life balance, increasing their productivity.
