Flex time—This is truly a no-cost benefit that many employees will welcome. If there’s no specific reason why all employees need to be at work from 8:30-5:00, for example, then let them create their own work schedules (within reason). This can go a long way toward showing employees that you care about their personal lives and obligations outside the workplace.

Telecommuting—If employees can do their jobs from home just as well as they can do them from your office, give them this opportunity, even if just for one or two days a week. This is an especially valuable perk for employees with long commutes.

Sponsorships—Sponsor the little league baseball or other sports teams that your employees’ children participate in. This helps the teams and also provides community visibility for your business.

Direct deposit—Most banks now offer payroll direct deposit to their business customers at no charge, making this another truly no-cost benefit. Employees will appreciate not having to go to the bank on payday.

Memberships in professional or trade associations—Many employees want to get involved in industry trade associations. It allows them to meet their peers and broaden their professional horizons. Your company will benefit too from the knowledge employees gain and put to work in your business.

Continuing professional education—Many employees also welcome the opportunity to enhance their professional skills through classes, seminars and workshops. Local community colleges and professional associations offer courses and conferences at a reasonable cost.