6 Ways to Help Your Employees Save

Through the years, you and your employees have developed a strong bond. You care about them and want to see their professional and personal growth inside and outside of the office. Therefore, you want to help this process anyway possible. You will do whatever it takes to minimize their stress, which includes relieving some of their financial burden.

Include Savings in Benefit Packages

Guide your employees through the picking benefits procedure. Make sure that they know which options offer the most cost effective 401(K) packages, healthcare providers, and any other benefits offered by your company. Let them pick the benefits that most closely align with their needs and budget.

In the physical benefit packages, include some coupons and discount codes for things such as gym membership and office supplies. Also include a listing of free services offered to your employees.

Memberships, Coupons, and Vouchers

Offer employees membership cards to warehouse companies like Costco and Sam’s Club. Decide whether you want to pay for all your employee’s annual fees, or if you want to use the company’s name to get a discounted rate on membership. If the budget allows it, pay the entire membership fee as an extra work perk.

Encourage your employees to take public transportation. Develop a program that distributes vouchers to employees who use public transit to travel to work. It covers the monthly travel fees or a portion of it. Another option is to suggest employees arrange car pools. Have everyone who uses the carpool pay the driver at least $5 per person to cover gas and tolls.

Whenever employees need to buy something for work, such as special boots from Merrell, send an email with coupons attached. This lessens the bill for employees who need to buy certain work required items.

Building Amenities

Keep your future employees in mind at the early stages of your business’s development. This way you’ll make sure to rent a space in a building that provides many amenities for your employees.

Aim to rent in a building that at least includes a gym and daycare center. The gym allows your employees to stay active and healthy. The daycare makes it more convenient for working moms and dads to drop their children off and then pick them up after work.

Avoid going overboard with the amenities. You don’t need to rent in a place with a spa or bowling alley inside: stick with the things that your employees value.

Buy Lunch

Help your employees avoid overspending by offering catered lunch at least two to three days a week. For those days without catered lunch, fill the company’s fridge with a few free meals.

At the start of the week, email meal discount coupons to your employees.  Select ones that last at least until the end of the week, which could allow your employees to save on meal options every week.

Financial Training

Host a series of lectures on economics and savings. Invite a few finance experts, and some of your employees that cover the financial aspect of your business, to speak about frugal living. This can become a fun after work event. Also send them lists of free and cheap online and local finance courses.