Retaining employees using barter dollars

Dear Small Business Owner:

We all agree that it’s a tough labor market today. But there are some things you can do to engage and retain your staff using barter dollars, showing them appreciation and an extra goodie or two.

TIP1 Send flowers or give barter giftcards for a job well done, their birthday, their annual employment anniversary, and to honor their skills and contributions to your company. Depending on the value of the giftcard, they can take care of their own family’s dental care, daycare, day camp, weight loss, pet grooming, upcoming wedding, or for date night. Note: Don’t be cheap about it or the gift will backfire. I have seen members flush in barter want to give $25 barter dollars. Sheesh. That isn’t gonna accomplish what you want to achieve.

TIP2 Give EXTRA bonuses with barter dollars. Your staff is not going to be thrilled if they normally get $1,000US bonus, and you replace it with a barter one. Come on, folks. Cash is king; barter is queen. But if you supplement that cash bonus with barter dollars, you will see a positive reaction!

TIP3 Some of our smart members help out employees who have family expenses or emergencies they cannot afford. Does your longtime employee need to get their child braces? Did your employee or his kid get into trouble and need legal representation? Or a fender bender? Or they need daycare so they have reliable childcare to come to work? Share your barter dollars! You’ll be doing a good deed for them (and for you, too!).  

TIP4 Throw staff appreciation events with barter dollars: whether it’s a dinner out, a sunset cruise, charter fishing trip, axe throwing, escape room, monthly massages at your office, etc., doing a group activity is a super bonding experience. Employees that feel like family are less likely to quit!

TIP5 Are employees asking for raises that you cannot handle in your budget? Consider negotiating a barter giftcard instead.

TIP6 Has your payroll gone up because of the forced increased salaries to attain and retain your staff? Has your general expenses increased due to required Covid19 safety measures? Now is the time to free up cash, and switch business expenses from cash to barter! Still paying cash for web development, accounting, advertising, office maintenance? Use your barter dollars to open up more available cash.

TIP7 Plan holiday parties with barter dollars, and give out prizes and gifts that you purchased with barter dollars to increase the fun and festivities. A simple way to throw a staff party is to cater a spread at your office. Barter gals will make all the arrangements for you.

TIP8 Did you know that many of these tips can also be used to retain customers or your favorite vendors! Send flowers after you complete a big job or to apologize to an upset customer. Send a catered lunch to your mechanics. Have a customer appreciation event and barter a cocktail hour or luncheon.

TIP9 Want to implement these ideas but not yet a barter member? Join the barter family; it’s free to signup! 

Best, Barter Gal Faye

PS: Are you advertising on social media for new hires? We are happy to share members Help Wanted Facebook posts onto our Facebook page at no charge.