Are you struggling to recruit? Or worried about losing key talent?
Back in early 2020 we wrote a blog post covering the most desirable employee benefits (click here to read more). Obviously, the world has changed drastically since this time and so we felt our article deserved a few updates!
It's no longer enough for organisations to promote tea and coffee in the office, the legal requirement for holiday leave, and a competitive salary as ‘benefits’ on a job spec. Candidates’ expectations are growing, and with a job market at record highs, they are also less willing to compromise on what’s important to them.
Often, candidates sign off mentally before finally handing in their notice. Pay attention to your key talent and what is important to them, before it’s too late!
Read on below for what candidates' expectations are from their future employers, and what actions you can take to prevent the loss of key talent.
Flexible hours and remote work
The pandemic pushed many organisations to take on remote working policies which had otherwise been put off or had perhaps seemed impossible to implement without the pressure of a lockdown.
What was previously a valuable perk is now standard practice - employees are now used to working from home and all the conveniences that come with it – no commute (so money saved plus more free time), eating lunch at home, working in pyjama pants, etc… all with the option to come into the office when needed.
As flexible hours and remote working are now becoming an expectation, companies which don’t offer this may struggle to recruit as candidates seek organisations with a more flexible and modern outlook.
Mental health and wellbeing
A recent analysis of Glassdoor reviews suggests that a toxic work culture is 10 times more important than compensation when it comes to predicting staff turnover and is the top reason why people are quitting their jobs (based on more than 1.4 million reviews from 500 of the largest U.S. companies).
Organisations with a clear focus on the mental health and wellbeing of their employees will always come up top. Companies need to actually uphold the values listed on their website to stand out from the crowd, not just list and then ignore them. Here’s some tips on how you can maintain a healthy work environment:
- Be supportive of your team and offer a helping hand or additional training when a team member is struggling.
- Promote health and wellness – this could be through company activities such as yoga or meditation or an onsite gym.
- Invest in employees – recognize your people’s individual needs and provide them with the means to grow. This could be through mentorships, paid time off to volunteer, employee excursions, or inclusive groups to support different needs (e.g. for LGBTQ+ or BAME employees).
Improved parental leave
Expectations for paternity and maternity leave have grown rapidly in recent years. In a recent study from Vodafone, 25% of candidates declined to apply for a particular role because they thought the employer’s parental leave policies were inadequate, and more than half of 18-34 year old’s would be more likely to apply for a job if they knew the employer had good parental leave policies.
Going above the statutory requirements, and being inclusive of paternity, maternity and adoption pay, is a fantastic way to stand out from your competitors and retain your staff.
Training and development opportunities
By supporting your employees through additional qualifications or training, you are not only motivating them to continue performing well in their current role, you are providing them with longer term career incentives and the means to learn new skills.
A well trained workforce works to the benefit of the employer too - it's more financially viable to train existing employees than to constantly recruit the next best thing, and your organisation will reap the benefits of their new knowledge!
Shorter work week
This past year there has been frequent talk of the possibility of a shorter work week - with Belgium making global news by offering employees the option of a four-day week and companies like Unilever and Kickstarter actively testing this out too.
The jury is still out on the productivity of this model – initial studies suggest it could make people better workers as they are healthier and happier, though many organisations are understandably wary of being a first mover.
As the world continues to change however, it is definitely one to consider in certain industries!
Remember!
Trends are constantly changing - stay on top of what candidates are looking for in the market and you can't go wrong! Here at Talent Locker we ensure to keep an ear to the ground on recruitment trends, so make sure to sign up to our mailing list to get all the latest updates. Contact us on hello@talentlocker to be added to our list!
