The professional world is experiencing a confluence of societal shifts that are having a major impact on the behaviors and expectations of employees and candidates. As we find ourselves in a candidate’s market in which there are more jobs available than people seeking them, it’s important to tap into prevailing attitudes and demands in the job-seeking set to attract and retain effective, talented employees. With Gen Z and Millennials making up nearly 50% of the workforce, concerns about wage stagnation, student debt, and healthcare are dominating the discourse among a significant portion of the talent market. For employers to remain competitive in hiring, these concerns and others need to be addressed in the compensation and benefits packages offered to employees.
Headfarmer believes that we are only successful when clients and candidates alike benefit from our services. Keep reading to learn the key benefits that will help you build your team with retainable talent.
Offer Economic Benefits
Securing top talent takes more than just competitive wages. Empowering employees with additional economic benefits improves morale, affirms their company loyalty and enables them to set down roots. With high retirement anxiety and under-saving prevalent in the workforce, talented candidates want to see retirement plans with employer matching in their benefits packages. Similar to company-matched 401Ks, employee savings accounts are gaining popularity. Accessible at any time, these accounts are company-matched and funded pre-tax, offering a tax benefit to employers. Employee savings accounts help your teams with major life investments like home ownership, skills development and retirement.
Offer Comprehensive Health Benefits
Employer-funded health benefits remain a standard and essential benefit. Candidates look for strong plans that afford them maximal choice as well as dental and vision coverage. Make sure your health plan also covers mental health needs, or consider providing a mental health stipend on top of your existing plan. In addition to standard health benefits, candidates are seeking paid parental leave. Paid parental leave not only improves life for new parents and children, it improves retention, engagement and performance. Additional wellness perks like massages, yoga, gym memberships, bike shares and more are also attractive to candidates.
Offer Life Balance Benefits
When employers show their employees that they trust them and respect their time, the returns are measurable. Offering benefits like flexible schedules, remote work, and more vacation time and PTO improves productivity, engagement and overall job satisfaction. Employees with flexible schedules and time off to enjoy life take fewer sick days and offer more valuable contributions to their employers. Some US companies are experimenting with 4-day work weeks and 6-hour work days to surprisingly productive results. Creating a benefits plan that acknowledges employees’ life outside of work makes them more engaged when they’re on the clock.
Find Lasting Placements with Headfarmer
Headfarmer has been committed to growing Phoenix area businesses with high-quality talent for more than ten years. Our experienced team of recruiters takes a dedicated, personal approach to clients, prioritizing your success and longevity. We take the same approach with candidates, cultivating talent within our local and national networks of professionals. Our holistic approach to recruiting enables us to make placements that truly fit, benefiting clients and candidates alike. Gain an advocate in promoting your company to the nation’s best candidates by contacting Headfarmer today.
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