Would you ever put your own money towards your employees benefits? If I had the money and employees, I think I'd do my best to help put money towards benefits. Either way, giving your employees benefits costs you money, so it's not much of a difference than giving them the benefits. But if you are a boss and not the owner, would you still put your own money towards your employees benefits? Or would you expect the business owner to do so?
Welcome to Admin Junkies, Guest — join our community!
Register or log in to explore all our content and services for free on Admin Junkies.
Put your own money towards benefits for workers?
- Thread starter Grant
- Start date
Well, this depends on individual circumstances and personal values. If someone is a boss but not a business owner, they might not have the authority to allocate company funds for employee benefits. In such cases, it would typically be the responsibility of the business owner to provide benefits for their employees. However, some bosses may choose to go above and beyond and offer additional perks using their personal funds to enhance employee satisfaction and loyalty. Ultimately, it's a personal choice and varies from one individual to another.
If I own a business which I do, I put in a good effort in making sure my workers are very happy with working for me. When you have workers who bonded with your business like it's their own business, they will do right by your business. Your profit making will show you the result of taking care of your workers.
Your workers who are contributing effectively towards the good of your business deserves to be treated well which is why I believe it's something that is right for you to invest in the benefits of your workers so that they will know that you also have something that you are contributing to their own personal growth apart from the salary that you are paying them.
Good-Person
Captain Junkie
Well, many business may patronise certain kind of employees over the other in many cases and I think that there are many understandable reasons for that. An experienced and senior employee in a business organisation may help the organisation grow and this increases the value of employee in the first place.
From my personal experience, I have known that workers always tend to do more than they were expected especially when they are been appreciated by their employers because they know it is a positive approach from the management to show them that they are very aware of their contribution towards the company's growth. So, they will keep on doing it so that they will always be on a good note with the management.
If your staffs are levels segmented, they will have different levels of privileges. It's like how where I work give different level of health insurance to all the workers. The higher up gets more benefits with their own HMO. The important thing is all the workers get insurance.
Good-Person
Captain Junkie
I think that appreciation alone is not sufficient enough. If I were the boss of a company, then I would certainly not only appreciate my employees, but also offer good bonuses. Some bosses believe that appreciating employees is not a good thing, but I do not think that this is the case all the time.
The most important thing that you have to look out for whenever you are giving bonuses to your workers is to make sure that you're doing it in a way that it will be beneficial to your business in terms of generating more sales and profit because that is the only way you will not be getting into so many expenses.
Bousine123
Captain Junkie
If it is something that would benefit my workers or my business, I would put my money to do it, maybe by doing so, they may be motivated to do their best at work.
Melanie Marie
Legendary member
Only if the business was doing really well and expanding. Then of course you will need more help, and if your biz is bringing in good money, you could easily use a portion of it to pay for employee benefits, to help draw them in as an added bonus.
But if you're just getting started and you have no idea which way it's gonna go, then no way! That's a huge risk that could easily lead to financial loss, and then employee loss.
I do not have experience with operating big business. The biggest business I have ever operated was a restaurant where I had 5 staff. In the restaurant, I did not use my own money for workers' benefit but I did have a tipping box where the customers could tip and the tip would be equally distributed among the staff. Tipping is not mandatory in my place.
I have never seen any kind of business where tipping is mandatory on customers. To the best of my knowledge, it's something that you feel you should do to help support and encourage workers to always be at their best especially when they have given you a service that you are very happy with.
Good-Person
Captain Junkie
Well, I am quite sure that many businesses would definitely consider this thing before they even plan to give away bonuses. They have to create a specific bonus budget in order to giveaway bonus and consider the profit ratio first. Otherwise, they would have to deal with losses.
If you're making profits in higher numbers from your business, you can give your workers good work bonuses. It will add to your expenses but it will boost your workers input in their work. This will be beneficial for your business on higher working time frame.
Good-Person
Captain Junkie
This will motivate your workers even more. If you offer bonuses, there are many ways it may benefit your business. Your employees may put more effort. Apart from offering bonuses, offering growth opportunities is also a great way to encourage your employees even more.
The way which you an entrepreneur would offer growth opportunities to their workers is by increasing their salaries. If your workers are not growing in what they earn from their work, there's nothing like growth in their career.
Log in or register to unlock full forum benefits!
Log in or register to unlock full forum benefits!
Welcome to Admin Junkies