It appears more and more companies are struggling to hire new employees amid labor shortages and an economic uptake. Employers are facing greater risk of losing staff already dealing with high levels of pandemic-induced burnout and an increased workload. Recent surveys have indicated employees have described their workplace as being understaffed and there appears to be a growing trend whereupon people are quitting there jobs by the droves.
So what should bosses be doing in an attempt to retain these good staff members? Some buzzwords being floated around this work related dilemma is “retention” to keep the good workers and “incentives” to entice qualified people into their particular businesses.
So what are some considerations for companies to ensure they retain good staff members while recruiting qualified people?
Flexibility. When employees know their bosses are flexible around work scheduling, this creates an open and honest business relationship. It’s an excellent tool for retaining and engaging employees.
Performance Bonuses. An employee bonus plan will motivate employees to improve their job performance and help the business achieve its goals.
Healthcare Coverage. This incentive will attract and retain top talent. It will build employee loyalty and trust. It demonstrates a company’s commitment to the well-being of the staff member.
Development Programs. It demonstrates the company’s commitment to invest in the career development of their staff. This is an indispensable perk for aspiring employees who want to advance their career.
Paid Vacation Days. Improving an employee’s life outside of work is akin to improving their life at work. This time from work allows them the opportunity to improve their relationships with family and friends and demonstrates to them that the company genuinely cares about their well-being.
Paid Sick Leave. A company that prioritizes the health of its workforce will make employees more content and relieve them from unnecessary stress. It benefits the employee to take some downtime for self-care and healing.
Remote Work. This initiative demonstrates the company’s view that the employee is their most significant asset. This is a progressive move for the business since advanced technology and a growing need for autonomy among employees are indicating a transformational change in the traditional work setting.
Childcare Assistance. Balancing a busy career with an even busier family life can be a difficult task, hence why childcare assistance is essential for many working parents. This initiative is a “game changer” for a single parent since it allows them an excellent opportunity for career advancement that otherwise would have been unavailable to them if it wasn’t for the childcare assistance program.
Retirement Plans. According to a recent survey a whopping 81% of job seeking respondents indicated this was one of the deciding factors when applying for a job. Retirement benefits may give a company a recruiting advantage in this competitive hiring market.
Stock Options. Another excellent way to reward staff for their hard work. Undoubtedly, by being financially invested in the organization, employees become even more committed to the company’s success.
Casual Office Dress Code. This can create a fun work environment and it’s no wonder, since there are companies ditching the old rule book on business attire, which is being celebrated by many employees. This is backed up with a recent study that indicated 61% of employees are more productive when the dress code is relaxed.
Pet Friendly Offices. A pet-friendly office is like a dog whistle for many people. It tells them that creating a fun, slightly more relaxed work environment is a priority. It sends a signal to potential new hires that your company is a progressive and fun workplace.
Perks and benefits have become an important factor for employees. Indeed, they’re an effective way for them to evaluate a company’s culture, as well as its core values. While many companies are using flashy incentives to attract young talent, most job seekers are looking for perks that can foster their professional growth and cater to their individual needs.
By keeping their workforce happy, companies can create a more positive, open and fruitful work environment for employees and employers alike.
About The Author: Steve is a Christian Blogger, Videographer, and Personal Trainer. His content creation focuses on Societal Lifestyles, Health/Fitness and Faith.