We’re not here to kid anyone—today’s job market is well within the hands of the candidate. In times like these, how companies attract, engage, and acquire top talent becomes a mission-critical objective for organizations industry-wide. After years of considerable upheaval and change resulting from the pandemic, offering unique employer benefits has emerged as an impactful differentiator in talent acquisition efforts.
The Case for Maximum Attractiveness in a Candidate-Short Market
Attracting the best talent in the marketplace has always required a holistic approach. Your employer brand has always mattered. The reviews of former employees have always mattered. How you celebrate employees and empower them to advance their careers has always mattered. But in such a tight, taxed labor market, how you position your company to the working world is of more importance and under greater scrutiny than it has been in years.
One of the most effective, impactful ways companies do this today is by showcasing the unique benefits employees or prospective employees get to enjoy once they’re under the roof. Below are the top five benefits candidates are seeking today.
Five Unique Employer Benefits to Explore Now
Flexible Work Hours
Polls and surveys about workers’ desired benefits abound. One benefit tops the list on all of them: flexible work hours. A massive survey from Future Forum found that 95% of respondents care more about flexible work hours than remote work. How can your company respond to this incredibly prevalent desire? Would it be feasible for employees who ask to work from 6:00 AM to 3:00 PM to do so? What about 9:00 AM to 6:00 PM?
The answers to these questions (and the requests from employees) will assuredly come down to a case-by-case basis. But what matters most is that you contemplate the overwhelming momentum towards flexible work hours and create a plan that can accommodate it. It very well could mean the difference between missing out or closing on your first-choice candidate.
Time off to Volunteer
Often, benefits are much more than just a perk to advertise. They are an expression of your company’s disposition and how they value their employees. Offering paid time off (separate from the standard PTO plan) to employees who champion a cause is an excellent example of this at work. Upwards of 60 million Americans volunteer their time each and every year; odds are, you’re employing one of them. Offering time off to volunteer can be an incredibly effective way to resonate with the job market and engender your support towards great causes in all shapes and forms into the workforce.
Student Loan Repayment
Unique employer benefits always work best when they are shaped by the times. What better way to message your support for younger generations than offering tuition reimbursement? Most of the members of the latest generations of workers all have one thing in common: student loan debt. Yet, despite this phenomenon, less than 20% of employers offer such a benefit currently, though more than 30% plan to in the coming years. When scanning job description benefits, few phrases pop more to modern applicants than “tuition reimbursement” or “student loan assistance”.
Mental Health Benefits
Belatedly, the pandemic brought employee mental health and burnout to the forefront. Now, organizations industry-wide are catching up. 23% of workers report that their employees are now offering mental benefits of some sort. Employee assistance programs (EAPS), additional time off for mental health days, or hosting events for mental health awareness and education are all strong strategies. Making a concerted effort to support employee mental health will continue to be a differentiator in the coming years.
Professional Development Stipends
How does the old adage go? “Recruit for attitude, train for skill?” Offering professional development support is one of the popular benefits workers want that clearly benefits both parties. An employee might wonder: “Is there an online course that could help me upskill as a professional?” “Is there a conference in Chicago that could be both a great learning experience and networking opportunity for me?” These are the questions that dedicated employees ask themselves all the time. Offering financial support to help them develop as professionals can be an incredibly effective way to move the needle for candidates deliberating between potential employers.
Ready to meet your expert partner in attracting top talent? See just how many areas of your business we can help you grow with the right people in the right roles; contact Versique today.
