When searching for a new job, it’s not always about the money. Of course, money remains an important factor, but it’s not the only one that attracts valuable candidates and motivates employees in the long run. Nowadays, you need to have a proper benefits package, not just promises that sound good in the job ad.
At this moment, candidates have control over the market, so you should develop a strategy for attracting and retaining the most valuable candidates. We’ve prepared a list of recommendations.
Candidates searching for a new job are often more interested in the possibility of advancement than in the basic salary. People need challenges and the joy of reaching a superior level, they don’t want to retire from the same position. As a company, you need to offer a sure way of moving up the ladder, a structured training program, a mentoring system and examples of other employees who have been promoted.
Each employee that you attract needs a certain budget to cover his monthly expenses and will appreciate job security. Studies show that almost 90% of candidates between 21 and 35 years old consider that job security is almost as important as how much money they make. Prove that your company appreciates loyalty and that you are looking for long-term collaborations.
Flexible working hours, along with work-from-home programs, give people the possibility of finding a balance between their work and their personal lives, with positive effects on both. As long as the work is completed, there’s nothing to worry about. Think about how much parents appreciate this benefit and how appealing it is to all the categories of qualified candidates that you want to attract.
Now and then we all need a break from our everyday tasks and problems. We need to offer some of our time to the community that we are part of. This is an activity that employers should promote and encourage. This is a human side, proof that you are people-oriented, that you are empathetic. Include volunteering days in the corporate events. This is a part of the organizational culture that will attract a lot of candidates.
More and more employees pay increasing attention to their health. Offer benefits such as a gym membership, private corporate health insurance, vouchers for healthy food, provide breakfast, lunch and healthy snacks at the workplace. A healthy employee with a balanced lifestyle is a happy, much more productive employee.
This is an extremely important advantage for young candidates. If they know that you are going to be there for them if they decide to conceive and are expecting a baby, they will be much more motivated to sign. At a global level, one can observe a growing flexibility and company policies that are more and more generous in supporting young families.
Distance can sometimes get in the way of attracting the most valuable candidates. If you don’t want to lose talent, offer to reimburse their travel costs when remote work is not possible. Your employees can spend minutes or even hours on the way to their workplace and back, so you need to compensate them for the time spent in traffic and for their travel costs.
This is one of the most important advantages, that is often overlooked by companies and is maybe one of the least costly benefits that you can offer. Employees need their efforts and successes in the workplace to be recognized. A lot of employees leave their companies because they do not feel appreciated. Prove to your candidates that small and great accomplishments are always appreciated by your company, whether it’s signing a contract with a new client, staying late to finish material or shifting your schedule to get to a meeting.
Which of these benefits are you going to include in your package? All of them are real benefits, that contribute to building a healthy organizational culture. Avoid making empty promises. Rethink your recruiting and retention strategy and pay attention to benefits packages that you know you could provide in order to attract the most talented candidates.
© 2019 Sincron HR Technologies Inc.