28 Jul '17, 3pm

Budget Friendly Benefits: How Small Businesses Can Offer Big-Time Support Part Three

Match a percentage of your employees’ IRA (Individual Retirement Account) contributions. Unlike a 401(k) (an employer-sponsored retirement plan), an IRA is a savings account that is created and maintained by an individual. Many people working in small businesses forfeit access to a 401(k), so offering a perk like this can help to keep your best people around for longer. Create a profit-sharing incentive in your business. If that sounds intimidating, consider starting small. Allow full-time employees to share a percentage of the profits of retail sales, a benefit that encourages staff to upsell slow-moving retail items while still allowing ownership to pay bills and make a living. As the company grows, increase the percentage of shared profits or expand the items that are included in the model. Offer stock options. Many companies use stock plans to compensate, retain, and a...

Full article: http://www.baristamagazine.com/budget-friendly-benefits-p...

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