Should Your Contracting Business Offer Extra Perks to Keep Employees?

Many businesses, even small ones, offer little perks to employees as a way to keep them happy. Good coffee in the break room or a lunch out on your birthday are a couple of common examples. Larger construction firms sometimes use perks as a way to make a bigger project easier to manage, or simply to ensure workers stay happy long enough to see it through. Here are a few reasons to consider adding perks, with some factors to keep in mind if you do.

What Are Employment Perks?
When employment is low and the construction labor shortage making it very difficult to keep employees from seeking better options, it makes sense to offer benefits to people who stay with you. Although many of these advantages may come in the form of actual benefits like paid time off or health insurance, a lot of businesses also choose to offer perks. Perks are something that may not be considered a necessity for viable employment. Instead, they are more like a nice thing that employees enjoy as part of their commitment to work with you.

What Can You Get by Offering Perks?
Perks are more than something that you offer as a way to get qualified employees to agree to work with your business. If you are able to implement a consistent and employee centered perk program, you may be able to get benefits like:

It’s important to decide in advance what you were hoping to get from the perks. For example, you might decide to offer rewards to people who can show improvement in following safety procedures. By outlining your intentions in advance, you can avoid implementing a perk program that doesn’t actually achieve what you expect.

What Do Employees Want?
For any perk program to succeed, it has to be something that employees generally want and would prefer to have more than other perks. Think about places that you’ve worked at that had advantages that you never used, not once. This kind of perk seems like a benefit but doesn’t really make employment better for the workers. Invest the time to find out what your employees want before you spend extra effort creating the program. If you’re just starting out, it’s worth researching what workers in your field think is most important, and seeing if there’s a way you can offer that.

Do You Have a Consistent Framework to Give Perks?
The trope of the employee of the month program won by the same employee every month is so familiar, it’s a cliché. But it also serves as a good warning to business owners who don’t know how to provide perks that motivate people. Offering benefits that employees may find it difficult or impossible to achieve is just as bad as perks programs that employees don’t want. If the goal is to make employees happier or more content to stay working with the company, then the perks must be something that everyone can achieve. Otherwise, it becomes a feature for the elite few.

Can You Provide Perks Without Compromising Other Business or Employee Needs?
As you think about all the awesome things you can do with your business that employees will love, keep in mind that everything you implement should still protect and promote your bottom line. This means that perks programs only make sense if you can keep them going consistently without putting major employee needs like payroll and benefits on the line. Workers may be delighted by a hosted event or a day on an expensive golf course, but they probably won’t sacrifice pay increases to get it.

Employee perks are just one more thing that you’ll need to consider if you run a contracting business. If you offer them the right way, you’ll find a treasure trove of advantages. To start your contracting career, visit CSLS today!