Your business is all about caring for people. Why not extend that care to your team? 

Employee benefits help you reward your staff for their hard work. And as a bonus, they help you build a stronger, more committed workforce that’s motivated to grow with your business.

Here’s everything you need to know about small business employee benefits. Learn why benefits matter and some practical ways to provide them in the beauty and wellness industry.

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Should Employee Benefits Be Different for Small Businesses?

Employee benefits are those juicy extras beyond the paycheck that make your team feel appreciated – think health insurance, paid time off, or even discounts on services.

When it comes to small self-care businesses, benefits look different compared to what a larger corporate office offers. Large businesses are legally required to provide some benefits, like health insurance, that small businesses (with less than 50 employees) aren’t. And in corporate settings, most employees are full-time, so traditional benefits like 401(k) plans apply to nearly everyone. 

But roles in a self-care biz are as diverse as the treatments you offer. A nail technician might work part-time, a massage therapist could be an independent contractor, and a receptionist might be your only full-time employee. The benefits you offer need to fit the mix of roles you support.

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Instead of a one-size-fits-all plan, small companies’ employee benefits should be creative, customizable options that meet your team where they are. For example, traditional benefits like health insurance may not apply to independent contractors or part-time workers. Similarly, your team might care more about work-life balance and wellness perks than a 401(k).

By offering a mix in your small business benefits package, you can show your appreciation and foster loyalty, even if you’re working with limited resources. The trick is creating a supportive environment for your team without stretching your budget too thin. 

How Do Benefits Help Your Business and Your Employees?

Employee benefits aren’t just about treating your team – they’re also a smart business move. The right perks create a win-win situation where you boost your bottom line and show your employees you care. 

Let’s explore four ways benefits help both you and your team thrive:

1. Mutual Appreciation

Benefits send a clear message to your staff: Your business values its employees and their well-being. When your team feels appreciated, they’re more likely to stick with you instead of jumping ship for another job. They’ll want to match your investment in them with positive energy and commitment – creating an enthusiastic, long-term relationship that benefits both sides.

2. Reduced Employee Turnover

Providing benefits helps keep your employees happy and engaged, which means they’re less likely to leave. And there are tons of reasons to up your retention game.

First, hiring and training new staff is expensive, not to mention time-consuming. Constantly bringing in new people means you’re repeatedly spending resources on recruiting, onboarding, and training – money that could be better invested in growing your business. Plus, the learning curve for new employees can slow things down and impact client experiences.

Second, avoiding the revolving door of turnover is especially important in self-care businesses where client relationships are everything. Your clients develop trust with the team members who provide them with personalized care. If a loyal client’s favorite hairstylist leaves, they’re likely to follow them. To keep your client base strong and steady, reducing employee turnover is key.

3. Healthier Work-Life Balance

Burnout is real in the self-care industry. The long hours on your feet, back-to-back appointments, and emotional demands of supporting clients take a toll on you physically and mentally. Employees can easily become overwhelmed and disengaged – but benefits can go a long way toward preventing burnout by promoting work-life balance.

Perks that encourage time away from work, like flexible scheduling or paid time off (PTO), give your team the chance to recharge and focus on their personal well-being. And wellness benefits, like discounts on gym memberships or mental health support, keep everyone physically and mentally healthy.This translates into benefits for your business, too. Employees who feel well-rested and mentally refreshed are more likely to stay engaged and less likely to take sick days or, worse, crash, burn, and decide to quit. In other words, when your team feels their best, they give their best – which means your clients get quality service and your business is more productive.

How To Offer Employee Benefits as a Small Business Owner

Offering benefits may seem challenging, especially if you’re working with a tight budget. But with a little creativity, you can provide valuable benefits that are good for your employees and your business. Here are seven strategies for offering employee benefits in the self-care industry:

1. Partner With Local Businesses

One way to beef up your small business benefits plan is by partnering with local businesses. Think about collaborating with nearby gyms, wellness centers, or even cafes to offer your employees discounts or free access to services. In return, you can offer those businesses perks for their employees. It’s a win-win for everyone involved.

2. Offer Professional Development Opportunities

A small way to show you’re invested in your employees’ success is by funding their professional development. You could pay for a certification, offer a stipend for specialized training, or cover the cost of a conference. 

These opportunities help your employees enhance their skills and stay engaged in their work. They help your business, too – the more educated your staff is, the better equipped they are to provide killer service. Plus, offering professional development opportunities fosters loyalty. Employees are more likely to stay with a company that cares about their growth.

3. Reward Performance With Bonuses

This benefit is a no-brainer: Incentivize great work by offering bonuses. Whether it’s tied to customer satisfaction, sales targets, or overall performance, a bonus system motivates employees to excel. Bonuses around the holidays are always nice, too, especially if you don’t offer holiday pay.

It’s a simple way to show appreciation for their hard work and dedication, and it doesn’t have to be too expensive. Even small bonuses or gift cards to your employees’ favorite local businesses can boost morale.

4. Offer Flexibility

Offering flexible work hours – or even just the option to adjust shifts as needed – gives your team a sense of control over their schedules. As a result, they’re more likely to feel motivated and less stressed.

This kind of flexibility also makes your business stand out as a place that values employees’ autonomy and well-being, making it an attractive place to work. No one wants to leave a job that creates the perfect work-life balance.

5. Provide Childcare Assistance

It’s tough out here for working parents. For employees with children, childcare assistance can be a total game-changer. 

When you think of childcare assistance, you might automatically think of expensive options like paying for daycare. But providing childcare assistance doesn’t have to break the bank – even small stipends can make a huge difference. 

You can also support working parents with perks like flexibility. Babysitters fall through, kids get sick, and school dropoff/pickup times aren’t always the most convenient. An understanding attitude about these problems shows that you get it.

6. Give Your Team Mental Health Days

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Mental health is just as important as physical health. You want your team to come to work feeling refreshed and ready to serve your clients. 

Along with regular PTO and sick days, offer mental health days – a chance for your employees to take a break, recharge, and focus on their well-being. As anyone in this business knows, a little self-care can go a long way.

7. Provide Employee Insurance

If you can provide health insurance, you should. Employees appreciate having options to help them stay healthy. Even if you can’t provide full coverage, contributing to a basic plan or offering access to discounted group rates can be super helpful.

Another kind of insurance to consider offering is liability insurance. Many self-care professionals, such as personal trainers and massage therapists, need liability insurance in case of accidents, injuries, or mistakes. Your business should already have liability coverage, so extend it to your team to show you care about their professional security, too.

Grow Your Team With GlossGenius

Offering employee benefits is a powerful way to attract and retain top talent, so it’s a smart choice for beauty and wellness businesses hoping to grow. Another key to success in the self-care industry? GlossGenius.

Try GlossGenius free for 14 days!

GlossGenius is an all-in-one tool for beauty and wellness businesses with features that can help you manage your team seamlessly. From managing payroll to tracking performance with analytics and setting goals, GlossGenius makes it easier to build a strong, happy team. Start your free trial today.