If companies do not offer benefits as part of their overall attraction and retention strategy what type of employee are they looking to attract? Most companies are looking to hire young, long-term employees they can build the future growth of their organization around and vice versa.
What are these employees looking for? Hays 2014 Compensation, Benefits, Recruitment and Retention Guide says that when a candidate makes the decision to accept or decline a position, nearly 20% of that decision is based on the benefits that are offered.
Benefits are becoming the new standard among employers seeking talented individuals in today’s job market. With growing families employees want a health and dental plan along with the security of disability benefits and lie insurance. However, it doesn’t stop there. Other incentives employers are willing to offer include the following:
- Performance bonuses
- Group RRSP or Pension Plan employer match
- 2 weeks vacation
- Flexible work schedule
- Ability to work from home
- Healthcare Spending Account
Today, in Alberta’s red hot economy, many employers struggle to find employees from a shrinking talent pool. To be competitive in recruiting the top talent the report recommends small companies focus on promoting cost-effective benefit plans, Healthcare spending accounts, Group RRSP contributions, Workplace Flexibility, and opportunity for advancement.