Hiring new talent can be a tasking process for many employers. From putting up notices on job boards to conducting a series of interviews to find the best fit, it can be a challenging but rewarding process when successful. However, it can be frustrating to find the perfect candidate only to have them turn down your offer. What do you do? How do you make your offer attractive to top performers?
The work environment has evolved, and so have employee expectations. And because top performers are in high demand, they can afford to be picky with job offers. To attract them, you must understand what they want from potential employers and prepare a rounded compensation plan. You can easily do that with the aid of compensation data tools – for instance, you can use tools to perform a compa ratio calculation for employee salaries. This article covers the top perks potential employees look for when applying for jobs.
Top 7 perks potential employees look for in new roles
Unlike in the past, where a good paycheck and retirement plans were sufficient to attract and retain top talents, today, employees look for perks that cater to their general well-being and sense of fulfillment. Here are the top seven perks employees consider when applying for jobs today.
Flexible work hours and remote work
Although flexible work hours have been a desirable employee perk for the last decade, the demand for work flexibility has soared in the post-pandemic workspace. Recent studies show that many employees are willing to take lower pay in exchange for flexible work hours.
Instead of the traditional 9 to 5 schedules, most people now prefer to create their schedules. It could be working longer hours for fewer days or timing differences, as long as they deliver on their duties. One significant benefit of incorporating flexible hours is that it allows employees to work at their individual peak creativity hours, boosting productivity.
Remote work is also a key consideration for many employees when looking up job opportunities. It removes the stress of spending long hours in traffic and saves time. Where complete remote work isn’t feasible, employees generally opt for a hybrid arrangement.
Career development opportunities
Career progression is among the indices of job satisfaction and fulfillment for most people. Lack of career advancement opportunities is one of the top reasons employees quit their jobs, making it a major consideration when looking for new ones.
Employees, especially top talent, would take a job that offers a clear-cut career progression path over one that does not offer the same, even when the latter pays better. Therefore, providing career growth opportunities is one perk you cannot ignore if you want to attract and retain top talent.
Health and wellness benefits
Health insurance and wellness programs are among the top perks employees look for when applying for jobs. Given the astronomical cost of healthcare today, employees favor jobs that provide health insurance for them and their immediate family members. Employers that offer health insurance will attract and retain more high-value candidates.
Employees are paying attention to their general well-being more than ever before. Thus, wellness benefits have become a vital perk they seek in a job. Incorporating wellness programs such as discounted gym memberships, yoga classes, and mental health programs shows potential employees that you care for their overall well-being.
Paid time off
Paid Time Off (PTO) is a valuable perk for most employees. They want to know how much time they can take off work for health or other personal reasons. Paid time off typically includes sick days, vacations, holidays, and casual leave to deal with stress, burnout, or mental health issues.
For most employees, it’s not just about having PTOs in policy; it’s about how accessible they are. Do they have to give a month’s notice for a one-week vacation? Can they take a few days off to relieve stress on short notice? Making provision for PTO can help attract and retain top performers.
Paid family leave
Paid family leave is a top consideration for employees when choosing a job, whether parental leave or family care leave. Employees want to be able to take care of their dependent family members while pursuing their careers. It could be paid time off to care for a sick spouse, child, or aging parents.
Employees who plan to become parents will choose jobs offering paid parental leave over those without. Studies show that female employees are particularly big on paid parental leave. They want to know if they can take time off to care for a new infant or an adopted child and still earn a salary.
Every employee is aware they cannot remain in the workforce forever, so it’s natural that retirement benefits are a core perk employees want in a job. Offering a retirement savings plan helps them to prepare for the future and gives them a sense of security. It motivates employee loyalty.
A 401(k) or similar retirement plan is an excellent start. You can offer to match a portion of each employee’s contribution. It is a win-win situation for all because both you and your employees will get tax breaks on contributions made.
Start attracting top talent
Top talent is in high demand, and attracting these candidates is often a competitive venture among business owners. Beyond salary, top performers generally consider the perks potential employers offer when applying for a job. You can increase your chances of attracting and retaining them by providing a mix of the in-demand perks listed in this article.