Southeastern Massachusetts and Rhode Island offer a great place to find talent. However, you face a challenging landscape, with a tight labor market and a high level of regional competition. You’ll need to build the perfect benefits package to attract the top talent in the area.
Massachusetts lags behind some parts of the country in the speed at which it has recovered from COVID. According to state statistics, the unemployment rate in Massachusetts sat at 5.4% in November. For Rhode Island, the unemployment rate was 5.1% in November. Both are above the 4.2% seen for the same month for the country as a whole.
Still, a jobless rate of around 5% marks a massive improvement compared to the more than 16% pace seen during the depths of the pandemic. Meanwhile, the overall job market has been rattled by the Great Resignation, as potentially one in four employees look to switch employers in 2022.
Are you positioned for this reshuffling? Do you have the top benefits package you need to attract workers in southeastern MA and RI? Here are a few key areas to consider:
Top Benefits Massachusetts and Rhode Island Businesses Should Consider Offering
Expanded Health Options
To compete in a tight labor market, you need to offer more than the basic benefits. Most companies offer some form of health insurance. However, some of these offerings fail to expand beyond the most rudimentary coverage.
That gives you an opportunity. You can set yourself apart by providing other types of coverage. Here are a few alternatives to consider:
- Mental health
- Life insurance
- Pet insurance
COVID has given workers more negotiating power, allowing them to set more of the terms of their day-to-day routines. Universal 9-to-5 positions, with workers trudging to the office each day, have become rarer. Instead, top candidates are gravitating towards opportunities that let them build a work schedule that best fits their outside lives.
Keep this in mind as you launch your next hiring process. A broader view of scheduling will help you attract the best talent in southeastern Massachusetts and Rhode Island. Here are a few components that will let your benefits stand out:
- Flexible Hours
- Hybrid Work
- Generous Maternity/Paternity Leave
Your employees face a host of expenses throughout their lives. Of course, you pay for almost all of these indirectly by providing a salary. But remember many of the costs your team members face come about because they need to work for you. While they are busy boosting your productivity, see what you can do to make their lives easier.
That process involves reimbursing your workers for expenses they accrue on your behalf. Some of these come as a direct result of business activities (like driving to meet a customer) and others are more indirect (like childcare costs). If you can alleviate some of these expenses, employees and job seekers will appreciate it.
Here are some of the expenses you can consider reimbursing:
- Software subscriptions
- Internet for remote work
- Equipment necessary for their jobs
MA and RI are known for their education. Harvard, MIT, Boston College, Brown, University of Rhode Island, — the states boast some of the best institutions of higher education. But grabbing these degrees, even at lower-profile schools, comes with a sizable cost.
Workers today face massive college debt. The average total for recent college graduates approaches $30,000. No wonder this has become a massive concern for many job seekers.
As a result, you can distinguish yourself by helping your employees pay down this debt. What’s more, you can offer support for continuing education. This will help your workers develop their skills over time, offering them a major benefit and increasing their value to you at the same time.
Everyone likes to feel their contribution is appreciated. Make sure incoming candidates know that you have programs in place that make this possible. Design procedures to discover and reward standout performances. This will give you the advantage when you seek out fresh talent.
At the same time, these employee recognition plans will give a boost to your operations. The incentives will drive higher production. At the same time, you’ll increase retention by making sure your top contributors stay adequately compensated.
Looking to Attract Top Talent?
Ready to find the best talent in southeastern MA or RI? Turn to ABLE Associates to discover the workers you need to take your business to the next level.
Request a recruiter today!