Tough Times Are the Right Time to Increase Marketing By Giving More to Your Employees

An unstable Chinese economy and questions about where the US economy is going as we get ready for the 2016 Presidential election wreaked havoc in the stock market during the early weeks in January. This caused many small business owners to trim fat from their budgets in preparation for rainy days. Some businesses are putting expansions on hold, others are consolidating locations and liquidating equipment. For the mom and pop shop that might have limited fat in their operating budget, the first place they look to cut is staff perks which in my opinion is a big mistake.

A happy staff is the best asset any company can have. Not only do they keep the shop running, they also are the best marketers for your company if you treat them right. So the best thing to do during tough times is to invest in your employees’ happiness.

If you are at a loss for what that means you can get inspiration from some of our government agencies and corporations. For instance, the Metropolitan Transportation Authority provides continuous training for their employees. They also provide health and wellness reimbursements and a host of other packages.

While few small businesses have cash flow enough to offer their employees perks equal to those offered by the Metropolitan Transportation Authority, they may be able to offer their employees a scaled down version of what the Metropolitan Transportation Authority offers. 

For instance, if your business is Father and Son Plumbers, Brooklyn, New York, you could purchase Metro Cards in bulk from the Metropolitan Transportation Authority to help defray the cost for your employees to travel to work.

If your company is Father and Son Plumbers, Brooklyn, Iowa, you could give your employees a $25 gift card from True Value on Front Street to replace worn tools.

If your business is Mother and Daughter Hair Salon in Brooklyn, Minnesota, you could give your hair dressers a month of free karate lessons for themselves or their children at USA Karate.

The point is, it doesn’t really matter if you are Father and Son Plumbers, Mother and Daughter Hair Salon; if your business is located in Brooklyn, New York, Iowa or Minnesota; if you have a multi-million dollar company like the Metropolitan Transportation Authority or if you own a small company that can only afford to market itself in the White Pages – when times get tough you can stretch your operating budget by making your employees happy. Providing a small perk to your employees to express your appreciation to them will encourage them to speak well about your business among their friends, family and social media. It will also help them to feel more secure in their job – something that is hugely important in an unstable economy. 

A happy staff is a more productive staff and a more productive staff means more money in your pocket. In the long run a small investment will pay enormous dividends.