Adjusting To The New Landscape
As businesses adjust to the ever-changing landscape created by the COVID-19 pandemic, it has become increasingly important to provide employees with the right benefits packages in order to retain and recruit top talent.
Providing the appropriate level of benefits can not only help employers maintain a productive and motivated workforce, but it can also be the deciding factor when recruiting potential new hires.
Companies need to think creatively about how they offer their employee benefits packages in order to ensure that they are attractive enough for both current and prospective staff.
What Are Some Benefits That Employers Can Offer To Improve Employee Retention?
When it comes to keeping your current employees happy and fulfilled, there are a number of different benefit options available for employers. Offering competitive compensation is a great way to ensure that you have a satisfied workforce who will remain with your company for years.
In addition, comprehensive employee benefit packages such as health insurance, vacation time, and retirement plans should also be taken into consideration when creating an attractive job offering for potential recruits.
Moreover, some companies may want to consider offering financial fitness courses or daily pay options such as immediate access to accrued wages in order to give their employees financial flexibility – especially during difficult economic times.
How Can Employers Use These Benefits To Recruit Top Talent?
Attracting talented workers requires creative thinking and intentional action from employers.
A good place to start is ensuring that your job descriptions are thorough and accurate – this will make it easier for potential applicants, especially those who may not be familiar with your company’s work culture or vision, to understand what you are looking for in terms of skills and experience.
Furthermore, crafting an intuitive hiring process with steps tailored specifically towards finding candidates with desired qualifications is essential in recruiting top talent as well – this could include hosting virtual networking events or participating in career fairs hosted online.
Ultimately, offering competitive salaries plus comprehensive employment benefits packages is key when trying to attract skilled workers; this will demonstrate that you value them not just as numbers on a spreadsheet but rather as individuals who bring knowledge and expertise unique from other candidates.
Consider All Angles
From providing competitive wages and comprehensive benefit packages pre-COVID to redefining these offerings post-COVID – all while maintaining employee engagement throughout – it is crucial that employers consider all angles of retaining existing staff while simultaneously recruiting new ones by providing the right types of benefit packages.
Not only does this increase productivity within teams, but also shows potential new recruits that you value them as people rather than components of a team algorithmically generated by a computer program.
Employers must remember:
- Benefits Packages = Employee Retention + Recruiting Top Talent!
A Message From Rich DiPippo:
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I work with business owners, key executives, and families to help clarify their objectives and take action. Through a unique holistic approach to financial success – much like the strategy champion quarterbacks employ to win the game – we deliver real-world results.
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References
- Paylocity. (2020). 10 Employee Benefits to Attract & Retain Top Talent: https://www.paylocity.com/resources/resource-library/blog-post/10-employee-benefits-to-attract-retain-top-talent/
- NetSuite. (n.d.). Employee Retention: Benefits to Improve Retention: https://www.netsuite.com/portal/resource/articles/human-resources/employee-retention-benefits.shtml
- Society for Human Resource Management (SHRM). (2020). Benefits to Improve Employee Retention: https://www.shrm.org/resourcesandtools/tools-and-samples/hr
