Welcome back! 10 return-to-office incentives employers can provide at little (or no) cost

Benefits cost money to deliver. Plenty has been written about 401(k) matching contributions, health insurance and educational assistance, yet the company needs to shell out cash in order to deliver. Benefits represent about a third of an employee’s total cost. Put another way, salary might represent 69% of labor costs and benefits add on 31%, bringing the cost to 100%. What benefits can you provide at little or no cost? And perhaps incentivize employees to return to the office?

The federal government does not require all benefits to be offered to all employees, but state laws might differ. You do not want to discriminate, but there are times when recognition can be perceived as a benefit by the employee concerned.

Let us look at 10 benefits that should be deliverable at little or no cost – and can help return – and retain – employees:

1. Assigned parking: Your company is one of several in a suburban office park. Your lease includes outdoor parking on the property. Several tenants are in the building. Are you the largest or longest in tenure? Can you arrange with building management sufficient spaces closest to the building are your assigned spaces? Employees would not need to walk that far, especially in inclement weather.
2. Matching charitable contributions: Your firm has a foundation. It is well funded and contributes money to various charities annually. You want to encourage your employees to give back to the community where they live and work: 68% of large companies and 28% of small to midsize companies offer this benefit.  Can you set up a dollar for dollar match to 501(c)(3) organizations by employees? You could set an upper threshold. Perhaps you will match up to $1,000 annually in total contributions per employee.
3. Hybrid work: This can be an extension of the work from home culture that developed during the pandemic. Your employees do not work on an assembly line or in customer- facing retail sales. They sit in front of a computer terminal all day. As long as they get the work done and activity can be measured, does it matter if they sit in front of a computer at home or in the office five days a week?
4. Flex time: Let’s reconsider the employee sitting in front of a computer terminal all day. They are part of a much larger department. Customer service is a good example. The workday might be 9 a.m. to 5 p.m., but is it that much of an inconvenience for them to work 8 a.m. to 4 p.m.? If the call center is staffed 24/7, it should not be difficult to be accommodating.
5. Your birthday as a holiday: Yes, this idea has a cost. It involves granting an extra day of Paid Time Off (PTO). Everyone has a birthday. They only have one a year. That day is in their personnel file, so it is easy to plan for in advance. Knowing you can take your birthday as a holiday is a very personal reward.
6. Paid gym membership: This is ideal if the gym is located in your office building. Gym membership comes with a monthly cost, but the group rate the company pays should be significantly lower than the individual rate if the employee joins on their own. Regular exercise has many health benefits. The convenience on the gym location saves employees time getting to and from the gym after they leave work.
7. Represent the firm at a conference: Depending on your line of business, this could involve one person or several. Firms often bring together far flung sales team members for sales conferences. Attending a 2-3 day conference is often a perk of the job. Other industry conferences are not firm-based. Employees, often salespeople, choose to attend, often spending their own money. Salespeople are often paid on commission, so the cost of them being away is different. The firm might share the conference registration cost with the employee.
8. Professional development: Many professions might require earning continuing education credits (CE) to maintain your license. Some firms offer management development courses at a famous university as an employee perk. This often comes with a certificate of completion, creating a credential they can add to their resume.
9. Career counseling: This one sounds so obvious, but is easy to overlook. Few people want to get stuck in a dead-end job. They would like career guidance services to be able to advance within the organization and earn more money. Has anyone given them a roadmap, explained how they can succeed?
10. Employee of the month: This comes under recognition, but it could deliver additional benefits too. You need strict selection criteria, so employees feel it is impartial. Recognition could include having your picture on the wall in a public place or the parking space closest to the building. The perks last for one month, then transfer to the next winner.

Related: 2023 employee benefits & workplace predictions: This year’s must-have benefits

Not every benefit appeals to every employee. Offering a range of benefits at little or no cost to the company, makes sense from the viewpoint of recruiting, retention and morale.

Bryce Sanders is president of Perceptive Business Solutions Inc. He provides HNW client acquisition training for the financial services industry. His book, “Captivating the Wealthy Investor” is available on Amazon.