Small Business Doesn’t Have to Mean Small Benefits
Small-business owners can reap big benefits by creating an employee-friendly workplace. Here are some steps they can take:
Be flexible
* Try to say yes to requests involving personal or family matters.
* Be open to flexible scheduling policies, such as flextime and compressed workweeks.
* If possible, allow employees to work away from the work site full or part time.
* Be creative about finding ways to grant employees’ requests for parental leave.
Consider child care
* Consider offering a dependent care assistance plan, which allows employees to set aside up to $5,000 a year in pretax dollars to spend on child care and elder care. Administrative costs to you could be offset by tax savings.
* Look into contracting with a resource and referral agency for additional services, such as researching openings.
* Consider subsidizing child-care expenses, if only by $20 a week.
* Consider joining other businesses to form a child-care center.
Be a resource
* Create an informal resource library with brochures from community service groups and information about programs for children and families. Encourage employees to contribute.
* Post a list of local child-care resource and referral agencies, which provide information at no cost. Or post the toll-free number for Child Care Aware ([800] 424-2246), which can provide the needed phone numbers.
* Consider sponsoring or finding lunchtime seminars on parenting and family issues.
Offer benefits
* Consider a “cafeteria-style” benefits plan. The program, under Section 125 of the Internal Revenue Code, allows employees to set aside pretax dollars for a variety of benefits, including out-of-pocket medical or dental expenses, premiums on life or medical insurance, or dependent care.
* Try insurance brokers, benefits planners, payroll services and employee-leasing firms to boost your benefits offerings. Check into group discounts through professional associations or employer membership groups.
Small gestures count
* Throw a party or sponsor a company outing for employees and their families.
* Give an employee a baby bonus when they have or adopt a child. Think up an equivalent gift for childless workers who reach personal milestones.
* Put up a bulletin board for employees to decorate with their kids’ artwork and photos of family and friends.
