The power of employee benefits when it comes to recruitment and retention
Retaining staff in a competitive market
If recruiters the world over are to be believed, the jobs market is firing on cylinders it didn’t know it had.
Perhaps a key reason is the pandemic making some people consider what they really want from their working lives.
This has manifested itself in a greater churn of candidates, displaying the “open to work” signs at a time when job vacancies have, in the UK at least, reached a record high of 1.1 million. Across the world, some four in ten workers are expected to set out on the hunt for a new role in the next 12 months. It’s being called “the Great Resignation”.
Good news for everyone, then. Ambitious, committed people, confident they have much to offer, want to find the right home for their talents. In a mature, competitive employment market like ours, that can only be a win-win, can’t it?
Not if you’re an employer who has striven to build a high-performing team. Some of your people may be overlooking the advantages of what they have at the moment for the promise of what might be over the horizon.
That’s (working) life, surely?
But in this context, a sudden, worldwide upheaval driven by the unprecedented outside force of a pandemic, is it a wake-up call to look carefully at what you offer?
Employee benefits communication – and appreciation
I believe that how you, as a business leader, are seen to regard your workforce, is a very important part of employee satisfaction.
A key way to demonstrate that you care for and understand your employees is through the benefits you offer.
Do they reflect the attitudes and aspirations of your people, something that is in tune with their view of the working world and what lies outside it?
Or is it a package that is gathering dust - just part of the corporate furniture.
Reviewing and re-assessing what you offer at a time when we’re seeing considerable shifts in attitudes, in routines – especially when it comes to hybrid and flexible working – can play a key part in retaining the people you need and attracting further, high quality colleagues.
Getting to the heart of what your benefits represent now deserves special attention.
From pension consulting to beyond benefits
Does your organisation recognise the multi-generational reality of the 21st century workforce? The growing desire for greater diversity which offers us so much as employers? If these values are reflected in your company ethos and its benefits, it’s a powerful distinguishing factor.
Much has happened to make us question what we thought were accepted certainties. Is it time to turn to those aspects of our business that we are able to control with renewed focus?
The employee benefits you might’ve thought were always fit-for-purpose may need to be so much more. And with our help, reviewing your employee benefits offering may take far less effort, time and cost than you thought, while delivering a real benefit to your business.