Going Beyond Salary to Attract Talent
Salary is obviously an important factor in attracting talent to your business, however, for many candidates, it is not always the sole consideration when choosing whether to accept a new role. In fact, candidates may even be willing to budge on salary in some cases if other non-financial benefits resonate with them. Broadly, today’s candidates are looking for career opportunities that align with their career development goals, support their desire for work/life balance and provide them with additional perks that deliver stability and satisfaction.
- Benefits: Arguably equally important to salary offers are benefit packages. Today’s candidates seek competitive health insurance plans, retirement options and paid time off – benefits that make them feel valued and lend credibility to the organization. Other benefits that could attract candidates to your business include: stock options, tuition reimbursement, wellness benefits, commuting benefits, etc. Discretionary PTO plans are also growing in popularity, and demonstrate to candidates that you trust them and support work/life balance.
- Flexibility: Businesses that offer flexible work schedules show employees an added level of trust that many candidates look for today. In a virtual world where productivity is rarely disrupted by working outside of the typical office building, businesses would do well to offer flex-schedules to their employees. Possible scenarios include standard or full-time remote work, altered hours, or half-day ‘summer’ Fridays. Less formally, you can also show flexibility by allowing employees to work remotely or take time off in coordination with appointments or scheduling conflicts that may arise from time to time.
- Culture/Environment: One of the best ways to attract and retain talent is by highlighting a friendly and inviting culture. Part of what attracts candidates to businesses is the feeling of “fitting in” and being welcomed with open arms. During the interview process and offer periods, highlight the ways in which your company tries to achieve this; perhaps it’s with frequent social events, birthday celebrations, team outings, and office perks such as free/discounted snacks and beverages. As a company, you should do your best to provide a workplace that has everything your employees need to stay productive throughout the day and in the long-term.
- Opportunity: Employees can grow bored and complacent if they are not presented with new challenges and opportunities for growth on a regular basis. Highlight your company’s learning and development programs and talk about how you work with individuals to forge unique career paths to guide their growth. If you have a leadership or mentoring program, those are great initiatives to showcase as well, particularly when speaking with highly-motivated candidates.
The MFA Companies Talent Acquisition Team can provide you with the guidance you need to develop a comprehensive compensation package to attract top-level talent for your organization. We’d love to find you the perfect candidate. if you have a position you are looking to fill, please contact us today.
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