Today’s leading talent is interested in working for companies that are committed to their employees. Those who offer exciting projects and competitive compensation packages get first pick when it comes to recruiting. But did you know that salary isn’t always the main deciding factor for candidates with multiple offers? Some companies are able to tempt applicants away from similar or even larger paychecks with the creative use of perks and non-traditional benefits. Today’s article will discuss five incentives that employers can offer new hires without going over budget.
1. Thoughtful Benefits Packages
Good health benefits, leave time, life insurance, and other benefits are a key part of the compensation package that candidates expect from high-quality employers. The loyalty shown in what existing employees allocate benefits can be a deciding factor for new recruits. Be thoughtful in evaluating what benefits you offer to your employees. There are many group health and dental insurance coverage packages available today, and employers are expected to do the research needed to pick the best one. Keep in mind that many services, such as dental and vision, come with coverage gaps or fees that can leave a potential hire unimpressed. A commitment to a strong benefits package is seen as a strong sense of commitment to the health and well-being of your employees, which is exactly what employees want to see from their employer.
2. Schedule Flexibility
Recent studies, and common sense, have shown that employees greatly value quality time outside of their daily work. Staff who do not feel they can balance the demands of work and life are more likely to get sick, suffer from morale issues on the job, and inevitably pursue other employment opportunities. Offering flexible work schedules like a range of start and end times, a four-day workweek, or telecommuting can help to offset the demands and stresses of working a full-time job.
3. Time Off
Other incentives include offering paid time off (PTO) rather than traditional sick leave or vacation, allowing carryover of PTO into the next calendar year, allowing employees to take unpaid leave for family or medical needs, limiting requests for employees to work outside of their normal work hours, and so on. The key is to recognize that your employees have demands on their time and efforts outside of the workplace, and encouraging a well-rounded work-life balance can create a positive corporate culture that attracts the hires you are looking for.
4. Workplace Perks
Of course, there are several perks employers can offer their employees to help differentiate the company from the competition. It inevitably comes down to the image that your company is trying to promote as an employer. Do you want to encourage the health and well-being of your staff? Consider offering a gym membership, or even on-site exercise programs during working hours.
5. A Strong Support Network for Parents
Are you looking to recruit more women or men with families? An on-site daycare program is invaluable to parents. Or consider offering reasonable parental leave programs. Look to your company’s values and mission to set the tone for what sorts of perks you may be willing to offer new hires. If family comes first for your company, you should reflect that in what you offer your employees.
Recruit Top Talent with Williams Industrial
Not sure whether these perks are right for your company to offer? Reach out to the team at Williams Industrial for more advice on recruiting your industry’s top talent.