Low unemployment rates are great for the economy, but they also make attracting talent harder for your company. The right benefits may help you beat out the competition and draw loyal employees who are less likely to leave. Today's prospective workers want to work for organizations that care about their personal health and financial well-being. Here are a few areas to focus on to draw the best workers to your place of business.
Health tops the list of concerns for employees, and your attitude and offerings in this area are important for attracting talent. Start by taking a look at your health insurance plans. Employees want to spend less and get more. Be sure to offer attractive coverage for spouses and reasonably priced family health plans. Employee health savings accounts let your worker save tax-free dollars for health expenses throughout the year.
Also, consider extending your health benefits to perks within your organization. Do you have room for an onsite gym? If not, perhaps you can get a reduced-price package at a nearby facility. Offer ergonomic office equipment, including standing desks, kneeling chairs, stools and other active seating options. Stock the breakroom with healthy snack options, and offer events that focus on healthy lifestyles.
Try attracting talent with great retirement plans. An excellent 401(k) savings plan with good matching contribution rates goes a long way towards retaining employees after they start with your organization. Consider also offering help with student loan payments. Although not every employee needs this benefit, those who do are likely to put your organization at the top of their future-employer list.
Work-life balance is extremely important to today's workers, and it is likely to be a hot topic moving into the 2020s. Promoting flex-time options, including 30-hour work weeks, 4-day work weeks and floating lunch hours as well as full and partial work from home opportunities, in your job postings and during the interview stage makes attracting talent easier. Let prospective employees know how much vacation time to expect and your policies regarding sick time and personal days. Family is also important to your future workers, so be sure to share information about family leave benefits, too.
A lack of time and an abundance of stress are two major complaints by employees. Address these concerns with benefits and perks that save time and reduce stress. Free meals, laundry pick up and convenient parking all help save time so your workers are better able to focus on their jobs. A casual dress code is another time saver. Take a look at your company culture. Do employees have fun working together? Is any competition seen in a friendly light? Changing your culture takes time, but it also goes a long way towards attracting talent and keeping your employees happy and onboard for the long term.
Start attracting highly skilled people to your organization by adjusting your employee benefits and perks to meet the needs of the contemporary workforce. Communicate these benefits to potential employees early in the hiring process, and keep your current workers informed of changes to make sure you're retaining employees with top talent, too.
Photo courtesy of Malaysia Employment Group at Flickr.com