4 Ways Employee Benefits Can Save Your Business Money

Let me tell you my story:

As soon as I graduated from law school, I was placed in a big legal firm handling corporate matters. The firm had a great reputation and I was happy to be there because I was going to be getting a good amount of exposure.

My batchmates who had also tried to gain an entry but couldn’t were all green with envy and they thought that this was perhaps my biggest break. But a few months into work, I found it difficult to even make both the ends meet.

Now, I am quite aware that Advocacy does not pay in the beginning. The practice needs to be established for them to be able to attract a good clientele but for the amount of work that I was expected to put in, I felt the package was paltry!

I used to scourge couponing sites to be able to afford mundane everyday things!

CouponoBox was helpful those days when I spent a few minutes every day after tiring desk and court kind of day to collecting and pinning and stacking online coupons for that week’s grocery shopping. I meant to be able to save even a little just in case I need to quit work out of some exigency etc.

A couple of my friends in the meantime got into companies that paid them employee benefits and perks and they were planning to stick around there forever. Here is what I deduce the four important ways in which employee benefit can have a direct impact on the business itself:

  1. Improving production: giving perks to employees when they perform well or exceptionally well can push them to do better and harder the next time helping the business grow unprecedentedly;

  1. Retention of talent: if the employee is happy, he is going to stick around for as much as he can. Giving perks is any day less costly than calling newer employees for hiring.

  1. A statement of good intent: by providing such scheme benefits, the employer is making a bold statement to his employees that he cares for them enough. This will translate in them working for the organization

  1. The dominoes effect: this has been noticed that when an employee who was looked after well by his own employer turns to entrepreneurship, he also begins the same wave like his boss. Isn’t that heartening to hear!

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