Operating a small business can be a daunting task no matter what the economic climate. With so many working parts, such as expenses, profits and productivity, it’s easy to forget the people who make a new business happen: the employees.

“Attracting and maintaining a team of employees is a crucial component in making sure your business is a successful one,” says Ryan Bihl, a financial center manager at Fifth Third Bank. Here, he highlights three services small businesses owners can use to recruit potential workers.

Membership Banking^®
In a climate where providing competitive benefits is becoming increasingly difficult, offer your employees a package of products and discounts they can use with ease.

Look for benefits that include:

• Discounted rates on loans
• Higher rates on CDs
• A free checking account where participants can receive advantages on debit card and ATM usages
• Free online banking
• Free online bill pay
• Direct deposit for payroll checks

“Getting paid easily and having freedom with the money you make is important in any job,” says Bihl. “Perks like these can help business owners attract top talent.”

Fifth Third makes it a priority to educate companies and their staff on the benefits of Membership Banking®. A representative can come into your company’s office during normal business hours, as well as nights and weekends, to discuss various banking options.

Retirement services
The economic crisis has reinforced the importance of having a long-term financial plan. Retirement may be a main component of that security. Now, you can offer employees those retirement services in various forms to help meet their individual needs for the future.

“Look for a financial organization that can offer a variety of retirement plans, including 401(k), payroll deducted IRAs and sub-IRAs,” says Bihl. In addition to having flexibility in choosing a retirement plan, make sure you also have the option to access and change your account at any time.

Health savings accounts
When it comes to picking between two jobs, benefits play an important role – and none more so than health care. With health insurance costs soaring, having options is more important than ever and can be a deciding factor when accepting a job offer. Through their benefits provider, many employers are now offering employees a health savings account to cover medical expenses. Both the employee and employer can contribute to these accounts.

“It’s really like a triple-tax benefit,” says Bihl. “Contributions pre-taxed, grow tax-free and taxes are not paid upon withdrawal.” This account differs from health insurance because it is portable, allowing employees to maintain the account even if they leave the company.

Connect with Fifth Third
Although starting a small business is both scary and exciting, Fifth Third is here to help guide you each step of the way. In addition to banking options, they can help you connect to attorneys and accountants. “At Fifth Third, we have an array of products that help make your company appeal to potential talent,” says Bihl. “And when you’re starting a business, that’s key to making it flourish.”

To learn more about attracting employees, contact Fifth Third at (866) 475-4201 or visit 53.com.

Fifth Third does not provide legal or tax advice. You should consult your tax advisor with any questions.

All loans are subject to credit review and approval.