McGyver said:
Can you? I'm all ears. These guys, well, people in general, respond to financial incentives/sanctions. imo the hourly worker is a lot more mobile and acts as such, underscoring this.
Sure, I get lots of incentives that aren't just a lump of money (though they all cost money)... Don't get me wrong, I enjoy my yearly bonus, but I am one of the few who appreciates it as a BONUS, and NOT something that is expected. This past year, due to COVID hitting people hard, they gave us half of our bonus early, just to help with things.
Incentives that I get that aren't a bonus:
Gym membership paid (or I can use the corporate gym, which is world class, state of the art, and includes things like BJJ classes, a smoothie bar, etc, but it's about a 40 minute drive from me, so I let them pay for a gym closer to me).
Lunch every day (I know this isn't super practical for a small shop, but maybe lunch on Fridays, or keep some snacks and sodas around for when the guys skip breakfast?).
Fresh coffee available at all times, 6 days a week (no custodians here on Sundays to brew it, but you can make your own if you like). Air Conditioning (I'd never work in a shop without it).
A bit of flexibility in my schedule... Got a doctor's appointment in the morning? No worries, come in an hour late, leave an hour late (I also get that this isn't always practical for a smaller shop without a lot of coverage, but it goes a LONG way to increasing employee happiness/productivity, IMO)
2 paid 15 minute breaks to go for a quick walk (we're a project Blue Zones heart healthy workplace, so we're encouraged to do some quick cardio on our breaks)... I don't take both breaks every day... Heck, some days I don't take any... But knowing that they're there, and it's ok if I just walk away for 10 minutes to breathe is good for the mental health.
Every summer they put on an event for employees and the family. We're big, so they go crazy, rent out a private beach and provide catering, water toys (hobie cats, rafts, floats, etc), and a bucket of sand toys for the kids.... But it doesn't have to be crazy.. Have a BBQ at the shop and let everyone bring their kids in and show them what they do when they leave the family for 8-10hrs a day. Make up some tops or fidget spinners to pass out to the kids. Maybe give everyone a shop branded hat or t-shirt. It doesn't have to be excessive to show appreciation. Maybe hand every employee an envelope with a crisp Benjamin in it while they're there.
If you get any company discounts at your local tooling vendor or shop supply place, pass that down to the employees... I bet most of 'em do some wrenching or machining in their spare time, let them buy tools and supplies through you at cost. I get to use the company discount for rental cars and personal travel if I so choose. Heck, I can book personal trips through the company travel agency.
Give 'em a work boot allowance, maybe $200 every 2 years? I've got a pair of Red Wings the company bought me when I was an apprentice, haven't needed to replace them in 8ish years. Give 'em a safety glasses allowance while you're at it. I get $200 every 2 years to get new prescription safety glasses if I need to. So far I've only had to buy 1 pair in 10 years.
If you're in an area where there's restaurants and such around, and your guys go out for their lunch break, speak to the management of the restaurants and see if you can wrangle a 10% discount for your guys, it never hurts to ask. I get 10-25% discounts at all SORTS of places just by showing my badge. They like getting the extra business. Heck, the golf course near us gives us $20 rounds in the summer time, because they're hurting for business (all the snow birds go back North in the summer)... They still charge $50-80 for a tee time to everyone else, but they get tons of extra business from us at that $20 price, and we all go buy their overpriced beers and hot dogs, so it's a win for everyone.
Chip in toward health insurance or a 401k, these are intangibles that most people forget about, but they mean A LOT to the average employee like me. If you can't afford insurance, look into what it would cost you as an employer to have an HSA/FSA for the guys. A quick google says it costs you $5 per employee to outsource an FSA, but you avoid the 7.5% payroll tax on anything the guys put into their FSA, so it might be a net win for the employer, and I bet the employees would appreciate it.
Just some ideas of things that I enjoy at my current employer that aren't just "throw more money at me".