Today’s extremely hot job market means there are more positions available with fewer candidates looking to fill the roles. It’s more important than ever that your company be competitive, so you’ve got to think beyond the usual incentives like salary and health insurance. Candidates now look at the full compensation package, sometimes choosing to take a lower salary if the benefits are better. We’ve got some tips on how to give employees what they want so you’re not missing out on the best.
Stability & Security
After the Covid-19 crisis, many employees were more concerned with job stability than getting sick with the virus. One way you can assure them their job is safe is by sharing how your company faired during the pandemic: did your team keep working as normal? How did the industry perform as a whole? How did you take care of your long-term employees during uncertain times?
If you have a low turnover rate, make sure you include that as you explain the culture. If you make a company video, highlight employees who have been with the company for years. A company that is able to retain its workforce over time is a great marker of happy and fulfilled employees.
Hybrid or Remote Options
Now that we know the world can work well remotely, employees expect at least some level of working from home as standard. With today’s competitive job market, candidates can find a fully remote job and work from anywhere if that’s what they desire, so don’t miss out on a great candidate due to antiquated remote work policies.
Unlimited PTO sounds scary for employers. You might be afraid employees will take advantage and rarely work while still getting paid a full salary. However, it has some benefits on the company side, including less administrative time tracking sick days versus vacation days or how much time has accrued. You also don’t have to pay out accrued vacation time when an employee leaves.
Employees prefer unlimited PTO because they never have to wonder how many sick or vacation days they have left (and after 2020, we learned everyone should stay home when sick). They may have concerns, too: if they barely took the two weeks offered at their previous job, they may never take any vacation time if it’s not a “use it or lose it” situation.
The key to a successful unlimited PTO plan is communication. Teams still need to meet deadlines and communicate any overlapping vacations. Just because PTO is unlimited doesn’t mean the time isn’t scheduled and verbally approved by a manager. Consider adding unlimited PTO to your employee benefits program, and you might be surprised at how easy and seamlessly it integrates into your HR policies.
Value Work More Than Hours
Job security, hybrid work, and unlimited PTO all speak to a company’s culture. As repetitive tasks become more automated, employee schedules can become more flexible. Your company needs to prove that you value the candidate’s work produced more than the hours they spend online or on-site.
As long as they can meet the deadline, the question of vacation and on-site requirements should answer itself.
Education & Talent Development
The LinkedIn Workplace Learning Report discovered that 93% of candidates would stay in their job if the company prioritized their growth and development. During the interview process, you can outline a clear path towards promotion and career advancement within a role. Introduce the candidate to team members who have climbed the ladder or changed roles based on their changing interests.
Medical Insurance & Retirement Plans
Great traditional benefits still top the list of priorities for candidates. Even if your company markets a great culture, candidates won’t believe you if you don’t offer benefits to prove you care about employees. Moreover, with many states now requiring health insurance plans and retirement benefits, employees have a high expectation for these new standards.
Are you ready to offer the benefits candidates want but having a hard time finding candidates? ADAPTURE leverages a wide network of connections to get the best fit for your role. Connect with us today to get started.