Struggling To Find the Right Talent? It’s Time To Look At Your Benefits
Neha Mirchandani
The right talent is out there, so why aren’t they flocking to your company and your job posts? You’ve modernized your workplace to fit the current trends. You’ve become extremely creative in your recruitment campaigns. You have a great company culture. Your employees are happy and productive. So, what’s not clicking?
We’ll explore some different possibilities, but before we do that, let’s talk about why it’s so important to find the right applicants in the first place.
Importance of Recruiting Top Talent
The productivity you get from top talent is up to eight times more than the average. Hiring the wrong person can cost your business. Employers spend on average over $4,000 per hire in the US. Beyond that, time and other resources are wasted if you aren’t attracting and retaining the right talent.
How To Attract Top Talent (And Keep Them)
As an HR leader, you know that recruiting the best talent requires understanding what’s most important to them.
While compensation ranks highly on the list of what job seekers are looking for, there are several other things that are also important to potential employees.
Employees want a brand that is clear from the start about what they stand for, their value proposition, and what they’re looking for in potential employees. An unclear job description filled with buzzwords might confuse your candidate and attract the wrong applicants, which in turn can slow down your overall hiring process. They also want a company that aligns with their values. They want to be around like-minded colleagues and they want to be part of an environment that challenges them and enables them to add value. And increasingly they want—great benefits.
When it comes to employee retention, many of the same holds true. To keep your employees happy, compensation, excellent benefits and career development are critical.
Are You Offering The Right Benefits?
You already provide competitive compensation and your company culture is the envy of others. And yet, you’re still challenged to attract the best talent. You might want to take a hard look at your benefits package.
Here are some of the benefits you should consider in your quest to attract and retain top talent:
Flexible Schedules
This is a simple yet compelling way for companies to attract strong talent, and it also promotes a healthy work-life balance. An added advantage is that it reduces stress and optimizes productivity.
Remote Work Options
Currently, during the COVID-19 pandemic, most people are working from home. We’ve learned through this experience that many aspects of our jobs can be accomplished remotely. Location now should no longer be a barrier to attracting and retaining top talent. Even as offices begin to open back up, remote work is a trend that is likely to remain strong and a motivator for employees. Not only does it eliminate commute times, remote work can also help boost your employees’ savings as they now have the ability to live anywhere. This can be a win-win for both your company and your employees.
Development Opportunities
Continue to support your employee’s growth and development by offering resources that help further hone their knowledge and skill sets. Education should be an ongoing endeavor, and offering them opportunities for continued learning, career coaching, mentoring and more, especially in the current market environment will go a long way in ensuring happy employees.
Wellness
A happy and healthy employee is a benefit to both themselves and the company. Employee health is not all about physical health alone as one’s emotional, mental, and financial well-being is equally important.
If a financial wellness program is not yet a part of your benefits package, now is the time to consider it seriously. Personal finance is the leading cause of stress for employees especially in the current times. Your employees are likely financially stressed and will benefit from an employer sponsored financial wellness solution.
BrightPlan is the first financial wellness solution certified for fiduciary excellence[1] [AC1] that provides a comprehensive personal finance solution for all employees that is real-time, personalized and integrated with employer benefits.
To learn more visit brightplan.com.
(1) BrightPlan is the first digital registered investment advisor certified by the Centre for Fiduciary Excellence.
