Summer Fridays And Other Perks For Your Small Business

What are perks?

Perks, or perquisites, are cash or non cash “extras” that employees receive as part of their job. For small businesses, offering non-cash perks can help market your company more effectively and attract talent that might be considering employment with larger organizations. For perks to be effective in retaining employees in the long run, they should be closely aligned with company culture and values. We asked a number of small businesses what perks they offer to their employees. Here are some of the more creative responses we got back as well as some suggestions that you can use for inspiration as you develop your compensation strategy for your business.

More time off / flexible scheduling

By far, the number one perk that small businesses offer today is some form of flexible scheduling, ranging from how often employees come into the office to unlimited vacation time. Here are just a few options to consider as part of a larger conversation around employment policies and non-cash benefits for your workforce.

While most employers have adopted a hybrid office schedule post-pandemic, some have opted to shift to 100% remote as a new way of working. Be aware however, that all-remote often comes with the complexity of multi-state employment responsibilities that a small business owner may underestimate.

“We do summer Fridays where we close at 2pm and we make every three-day weekend in the summer a four-day weekend…. The team absolutely loves it.” – Kate Kelly, CEO Chelsea Capital. One business owner shared that they instituted 3pm summer Fridays a few years ago and the office staff members love it. They added that it was not available to the entire 100+ person workforce because of the nature of the different job roles and scheduling requirements.

One all-remote organization offers three days paid time off after a pet adoption.

Another organization reported that they offer two days paid leave specifically for community service, which is in line with their one of their core values to engage with their local community.

Opportunities for learning

Scott Mesh, PhD, CEO of Los Niños Services shared, “[Our number one] perk is professional development. We have optional lunch and learn [sessions]. People join in with a presenter for a half hour. We supply the pizza. We also present highly rated workshops and webinars for free and have opened these events up to the public. This further brands us as an employer of choice within our industry.“

Continuing education has long been a requirement for many professional services firms, however one commercial contracting company shared that they have implemented a full learning curriculum for their workforce, which has allowed them to standardize their service delivery model and increase efficiency. Moreover, it creates learning opportunities for their employees that they leverage very successfully in their employer branding to attract talent ahead of their competitors.

Working Environment

Creating a working environment that attracts people to the organization, and into the office more often, can be effective both for employee retention and for productivity.

One CEO reported that they provide lunch for office staff on Tuesdays, the day that they run payroll. It started because they were all too busy to grab lunch. Years later, technology advancements have eliminated the time crunch but they kept the perk in place as a tradition and opportunity for team bonding.

A pet friendly office environment can be a wonderful way to engage employees in an office first working culture. Be mindful of office lease restrictions and your general liability insurance policies when implementing however.

Scott Mesh added that while not a perk per se, authentic, spontaneous and public appreciation of colleagues is crucial. “We do this in meetings, and I’ve been told over the years this is the most meaningful aspect of working in our organization. Research over many years validates the phrase ‘praise in public, criticize in private.’ We don’t do ‘employee of the month’ as this is not seen as authentic or real. We find that when appreciation goes through layers of bureaucracy it loses its value.”

In addition to our US offices, we have offices in the Philippines. For our staff there, based on their selection from an annual visa lottery system that the firm provides legal assistance with, qualifying select staff get to come to NYC and stay for three to six months based on their preference. We provide housing and additional compensation while they are in NYC. – Richard Levychin, CPA, CGMA – Partner, Galleros Robinson

Figuring out what works for you

One thing is certain in all things compensation and benefits. It’s a one-way street, meaning that once something is put in place, it’s very hard to roll it back. So, feel free to make a wish list of all the things that you would like to place that are aligned with your values and are valued by employees, but be judicious in the implementation. It’s far easier to start slowly, maybe with one or two new perks and see how they are received and possibly add more later.