Running and growing a business takes planning, initiative, and leadership, and achieving lofty goals means tapping key players for high-impact, high-visibility roles. The strongest people on your team make critical decisions, motivate everyone around them, and strengthen your company with their skills and valuable experience. It is especially important to recruit the best talent when you need outside investment or plan to sell your business; an all-star team is often referenced as the most significant factor investors consider when evaluating a business.
As companies increase their competition for the most valuable employees, workplaces are evolving to attract new hires with more than just salary offers. Additional perks and benefits are an increasingly popular way to differentiate your workplace from competitors. These often include ergonomic workstations featuring standing desks or fatigue-reducing chairs, laptops and other information technology equipment that enable remote work and flexible schedules, kitchen appliances for food storage and cooking, and break room entertainment like that startup staple, the Foosball table. Bolstering your company culture with a well-equipped office is a great way to stand out as a desirable place to work, and can mean the difference between making a critical hire and seeing them go to a competitor.
Unfortunately, the cost of outfitting your office with modern, in-demand equipment can be substantial. A workstation with an ergonomic desk and / or chair and a powerful, portable computer with externals can easily cost thousands of dollars – just for one employee. Multiplying that cost across your entire staff, plus accounting for shared amenities like kitchen and break room fixtures and furniture, can easily result in a price tag equal to or greater than a decent salary.
While it may be tempting to forego office and workstation upgrades in order to increase your salary pool, that strategy can backfire in numerous ways. Dipping into your company’s cash reserves to pay for new equipment is even more risky, leaving you with no safety net for emergency expenses and making your financials less attractive to investors. However, by financing your office equipment and furniture through a vendor like TimePayment, you can offer job candidates and existing employees an efficient and ergonomic workplace while paying for the upgrades over time, using revenue from increased productivity and growth. With healthy financials and the ability to offer industry-leading perks to job candidates, you can build a stronger team, grow a better bottom line, and reduce employee turnover.
To learn more about leasing your office equipment, the financial products available to you, and how you can improve your productivity and your benefits package with the latest technology, contact a representative of TimePayment today.