How to Save on Employee Retention

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maksudasm
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Joined: Thu Jan 02, 2025 7:11 am

How to Save on Employee Retention

Post by maksudasm »

A number of measures will allow you to save on staff motivation and retention activities:

purchasing individual services through barter (for example, employees participate in an advertising campaign for a chain of fitness clubs and in return receive a free membership to their establishment);

if the enterprise has a high cash turnover, the bank can provide a discount when issuing VIP cards;

Instead of directly participating in an expensive educational program, you can provide employees with training materials on it;

Include automatic provision of office 365 database a credit limit in addition to the salary card. Banks are happy to agree to such an option within the framework of such projects. The employee repays the loan.

There is also the possibility of long-term voluntary health insurance. If it is more than one year, the employer is exempt from the obligation to pay a single social tax on the amount equivalent to the costs of concluding such contracts. To receive this benefit, the costs of voluntary health insurance should not exceed 6% of the salary fund.

Saving on employee retention

For small and medium-sized entrepreneurs, it is advisable to use low-cost support measures:

Set up a flexible schedule for the employee so that before the start of the working day he can, for example, calmly take his child to school and attend a training session in the pool, the subscription to which is paid for by the company.

Provide employees with gifts that do not require large expenses. These could be sweet gifts for children's birthdays or periodic distribution of certificates to stores for insignificant amounts for the company.

If one of your employees has particularly distinguished himself, give him not only a cash bonus, but also some bonus that matches his interests and needs. If he is an avid fan, you can give him tickets to a match of his favorite team. If he needs medical care, help him get treatment at the company's expense.

For employees with a family, it would be useful to organize a joint vacation at a tourist center or in a country house at the company's expense . Others can be given the opportunity to spend their leisure time in an interesting way, based on the employee's preferences.

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