3 Ways to Invest in Your Startup Team

3 Ways to Invest in Your Startup Team

As an entrepreneur, it is normal to be concerned with keeping cost low.  However, as Entrepreneur points out, you shouldn’t overlook investing in your people even in the startup phase.  As you are adding staff to your team, make sure that you are taking into consideration different ways you can invest in your employees and let them know that they are valued.

There are several key things to keep in mind when considering where to invest your money.  You may not be able to do all of these things initially, but by incorporating them as you grow you will show your employees that you value their contributions.

1. Flexible Schedules

In today’s workforce, offering flexible work schedules can be more valuable than many other benefits.  In some ways, offering this benefit to your employees may be easier for you in the startup phase.

The investment dollar is low here, while at the same time you are proving to your employees that you trust in them to do their job.

Offering flexible work schedules as well as the ability to work from home is a great perk that you should consider offering to your employees.

2. Healthcare

As a new startup, you may be cringing when thinking about the cost involved in providing healthcare coverage to your employees.  However, even the smallest amount of coverage is a benefit with today’s looming healthcare costs.

Check into healthcare companies that cater to small businesses and startups such as Liazon.  While healthcare can become a large cost, you can tailor it to your small startup so that it is affordable and beneficial to your employees.

Don’t forget, it is in your best interest to make sure that your employees are healthy.

In addition to healthcare plans, consider offering a gym membership to your employees.  This can be as simple as working with your local gym to sign up for a local business account, maintaining a certain number of memberships for your company.  I have had experience in the past with local area gyms that have allowed a certain number of member cards to the business, with different employees taking turns using the cards.

3. Team Events

Let your employees know that you care not only about their well-being but also their happiness at work.  Be sure to plan events to help build a team player mentality across your office.  These can be simple events such as a company cookout outside of your office building (check with any property manager or landlord for approval first).  Purchasing food for burgers, chips, and beans while preparing the food on a small grill can be just what your team needs to have a good time.  You would be surprised how much your employees will appreciate these small acts of generosity.

Also, plan to celebrate team birthdays and anniversaries once a month.  Purchase a cake and ice cream and have a small gathering at your office one afternoon a month in celebration.

Team events can be very affordable for a startup and a great way to show your employees that you care about them and value them.

What are some other ways you show your team that they are valued?  Please share your tips below in the comments.

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