When you’re looking to hire a new employee, you have a good overview of what you want that person to have. You write the job description and spell out, clearly what skills and training are needed to be a successful candidate and provide a little information about your company in the hopes of finding someone who will be a good fit for your team.
But have you ever wondered what job candidates are looking for from the company they want to work for? There’s more to work than a paycheck, but of course, that’s an important consideration.
A recent survey asked more than 100 employers across the United States the top challenges they face when recruiting and retaining new employees. Here are some of the highlights of that survey and what you should know about how companies respond to job candidates’ interests and priorities.
Factors That Today’s Job Seekers Value
Compensation is Important, But Not Everything
Many of the responding companies said they do not regularly benchmark employee salaries, comparing what they pay their team compared to their competition. Additionally, a majority of companies — 60% — replied that they do not analyze whether men and women who work the same job are paid at the same rate. Job candidates want to know whether they’re going to be earning a fair wage for what they do; they want to know whether they’re being fairly compensated at your company or whether someone else will pay more for the same labor. Equity is an increasingly important issue, not just in terms of diversity and opportunities but in terms of pay.
Benefits Matter
Living is expensive. We all know this. What does your company offer its employees, in addition to their pay, in terms of benefits and opportunities? While 85% of companies surveyed said they are offering their employees bonuses, shift differential, or other incentives, 35% of companies said they had not offered additional incentives to employees in the past year, while 58% of companies provide new hires less than three weeks of paid time off (vacation and sick combined). Employees want to know whether your company will make a contribution to their retirement, whether they’ll have access to health insurance, and, if so, how much they’ll need to pay. They also want to know whether your company offers remote or hybrid working options. Especially if they were working during the pandemic, they might have experienced the benefits of working from home for themselves and their families; this kind of flexibility is important and should be considered.
There’s More to Life Than Work
Candidates want to know whether your company takes seriously the concept of a work-life balance. They want to know whether they’ll be penalized, or if it’s looked down upon, for using PTO as they want or need. Will someone who shows up 20 minutes early and stays 20 minutes late every day be treated differently than someone who keeps directly to business hours because they have family obligations? What is your company’s policy on mental health — do you support mental health days? is there an employee assistance program to help gain access to mental health services? Providing a support structure and respecting a person’s home life to allow a good work-life balance is a top concern among candidates.
What about the Future?
When you’re reviewing resumes, you’re looking for clues as to whether someone is ambitious about their career and whether they took extra effort to secure additional training to stand out from other candidates. But will you help them continue to grow and learn? Companies that offer ongoing educational opportunities, whether through professional development courses, in-house training sessions and workshops, tuition reimbursement, etc., are going to be viewed more favorably than those that don’t for the job candidate who wants to advance in their career.
It’s a highly competitive market for new employees these days, and you want to do all you can to stand out and make the best first impression possible. If your company is looking to expand and hire several new people, it might be a good time to do some internal reviews and consider some changes in order to attract top talent — and make your current employees happier at the same time. Retention is a great way to boost your company’s productivity and maintain your institutional knowledge while sending a strong message to candidates that yours is a company people like to work for.
Looking to Attract Top Talent Today? Call on ABLE Today!
If you’d like more advice on attracting and retaining top talent, or if you’re ready to start the hiring process now, call ABLE Associates. Our recruiters have experience and expertise in what candidates are looking for and can help find talented people who might be perfect for your open positions. Give us a call today!