When a qualified job candidate is considering positions at two rivaling firms, often the small monetary or intrinsic benefits of one can sway the decision about both.
From better healthcare plans, superior mentorship programs, to leadership options, many benefits are monetarily immeasurable.
Not an employee’s commute, however. So, find out whether or not your firm can afford to foot these costs. You’ll be happy you did for the following four reasons:
1. Retain the employees you value most.
Especially with gas prices today, employees find it difficult to justify a long commute to work. What was once an easy freeway drive for 45 minutes can now cost employees as much as $20 extra per day.
The ability to live in safe, cheap suburb, coupled by the additional time necessary to drive to work is enough to drive away your best talent.
In order to retain the employees you value most, offer to pay their commute to work. It serves as real-money savings as well as good-will gesture.
2. Move your office to cheaper real estate.
If your firm is headed into the black, it may be time to move house. But finding more affordable real estate may lead to a loss in willing workers.
With the right location, the difference in rent should more than cover an offer to pay employee commuter costs.
Changing offices could be just what the doctor ordered to revive your ailing accounting. Travel stipends will limit the internal grumbling.
3. Incentivize your employees to work weekends.
Now there’s no excuse not to attend Saturday morning meetings. Get your employees to return to work more readily with the right incentive.
4. End telecommuting.
Allowing your employees to telecommute has its advantages.
However, some firms are concerned about employees bringing home proprietary or confidential client information, or simply prefer employees to be at the office for all casework.
In these instances, use transport stipends to substitute for telecommuting options.
Eliminating telecommuting totally may be ill received by your staff. So, soften the blow by providing monetary compensation for traveling to and from the office—whether it’s rush hour, after hours, or weekends.
A recession leads to lower morale. Find a reason for hope (and savings) to turn April showers into May flowers. Your firm, and its employees, can both equally from seasonal changes.