Growth Strategies

Herky-Perky

The perks to keep and cut
Magazine Contributor
1 min read

This story appears in the July 2001 issue of Entrepreneurs Start-Ups magazine. Subscribe »

When times are rough around your campfire, you may be tempted to halt those "free-bagel Fridays" your employees are so fond of. But before you take the hatchet to employee perks, heed the advice of Richard Hadden, an employee relations expert and co-author of Contented Cows Give Better Milk (Saltillo Press): "If things have to be taken away, take them from the [executives] first."

Top 5 Perks to Cut

1. Executive trips and toys
2. Non-job-related classes (i.e., yoga or craft classes)
3. Extensive travel
4. Gym memberships
5. Concierge/convenience services

Top 5 Perks to Keep

1. Child-care services
2. Employee community-building activities (i.e., free-bagel Fridays)
3. Work/life balance programs (i.e., paid time off, flextime)
4. Job-related training
5. Hotels for business travel

More from Entrepreneur

Kathleen, Founder and CEO of Grayce & Co, a media and marketing consultancy, can help you develop a brand strategy, build marketing campaigns and learn how to balance work and life.
Jumpstart Your Business. Entrepreneur Insider is your all-access pass to the skills, experts, and network you need to get your business off the ground—or take it to the next level.
Create your business plan in half the time with twice the impact using Entrepreneur's BIZ PLANNING PLUS powered by LivePlan. Try risk free for 60 days.

Latest on Entrepreneur