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Growth Strategies

Herky-Perky

The perks to keep and cut

This story appears in the July 2001 issue of Entrepreneur. 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