Key Tips to Making the Best Employee Benefits Package!
It’s hard to compete with the big boys.
It’s very challenging to hire and retain the best talent when we don’t have the same budget for employee perks.
We aren’t setup like Netflix or Google with unlimited PTO or onsite physicians.
As a small business owner, what can you do to compete for top talent?
I know as a hotelier you want to provide what is best for your team!
You wish you could offer the moon, but the revenue isn’t always there to deliver on that.
So as a small business owner, here are 2 key things we have added to provide a robust benefit package on a budget:
Health Plan – health insurance prices are through the roof. We had a plan and then it kept doubling and increasing so much over time that we couldn’t afford it as a company. PLUS, the rates provided as a company were higher for a team member with the same benefits than on their own!! Talk about a losing situation!! That’s when we decided to think outside the box and help our team with their health needs but not through regular health insurance. Instead, we went a different route with getting Direct Primary Care for our full time team members. It’s also known as Retainer or Concierge Based Medicine and has been wonderful! Team members have direct access to their doctor and can call/text any time its needed. Plus with no waiting for visits when someone starts to feel bad they can see the doctor that very day. This has drastically reduced people being out for health related problems. Our sick leave dropped considerably because as soon as someone began to feel bad they could see the doctor immediately and not let a cough turn into pneumonia. Another amazing benefit as an employer is that it has been very affordable for our company while still providing excellent service to our team. If you haven’t looked into Direct Primary Care, you definitely should!
Your team has lives outside of the hotel and work! Heck, you know when life at home is having difficulties whether it be going through a divorce, a death in the family, or financial struggles. When these difficult situations come up, your mind and energy are focused there and not at work. This is when a trained professional is needed to help you process through what you are experiencing. We get it! That’s why we added a mental health plan to assist our team members. It’s simple. The company will pay 80% of a visit to a psychiatrist or counselor up to $1000/year.
This is great in three areas: 1. The team member gets the professional help they need to process through their situation.
2. The company can come alongside them to show they care about the team members not just while at work.
3. The individual must be invested because they are paying for a portion of the bill.
Everyone has difficulties and this has been a great way to give back to the team!
Simple Tip: Look outside the box when reviewing team member benefits. Adding a concierge doctor service and investing in the mental health of your team will pay off substantially with less down, lower turnover, without breaking the bank.
You care about your team and their wellbeing and you want to provide everything you can, but when the budget doesn’t allow, think about adding these options to provide excellent and caring service to get them the help they need!
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