It is no surprise that attracting top talent has become more of a strategic chess game than anything at all. With limitless recruitment tools available, organizations are often forced to turn up the heat and sometimes become radical, offering much more than they have ever anticipated just to sign that “top performer.” Competition for top talent is fierce, and what organizations are offering to attract talent is sometimes astonishing. The reality is: if you can’t play the game of recruitment well, then don’t expect to attract the right talent!
One thing is certain: employees are not afraid to look for other career opportunities. A recent article by CNBC found that 44% of employees are “job seeking.” We have all heard the terms “The Great Resignation,” The Great Reshuffle,” “The Great Sabbatical,” and so on. The meaning of all those adages is simple—the job market has potential top performers out there! We know that!
Job seekers are not afraid to leave their current company, move to other geographic areas, and work for unknown companies that have only dreamed of being the next Amazon! But top talent is not going for cheap. They are demanding creative employment value propositions and packages unlike ever before. This is what is causing business leaders and recruiters to lose sleep at night!
Creating a Culture for Top Talent
So, how do hiring managers keep their talent pipeline full? Companies need to develop a talent acquisition strategy and perks to attract potential employees. Here is a list of selling points that create the kind of company culture top employees are demanding as they review job opportunities on LinkedIn, Indeed, or any of the other top 25 job sites.
It is also important to keep in mind that the below perks are a great way to retain your current employees as well. Odds are there are members of your team that are likely looking for their next opportunity too
Remote work/flexible work schedules
This is nothing new! This is not going away and will continue to grow over time. Job seekers are looking at remote work opportunities and flexible schedules as a “normal” benefit up there with 401k matching and PTO. If you search on Indeed for remote accounting jobs posted in the last three days, you will come across over 15,000 results! Can every job be remote? No! But if it can be remote, be assured that competitive companies might be offering it!
Yep, you’re hearing it right. A recent MetLife survey found that unlimited PTO was the top emerging benefit that job seekers are looking for–72% of respondents responded favorably to this benefit. This is scary for organizations, but confronting this can attract more talent. The rationale is that employees will manage their own time well because it is in the best interest of their careers to do so.
Health and employee wellness
Employees search for organizations that support work-life balance, healthy lifestyles, pet-friendly environments, physical/mental health support, on-site workout facilities, gym memberships, health retreats, and more.
Enhanced 401k options
According to SHRM, employers are elevating their 401k options to include higher than normal matching (sometimes as high as 10-12%), redirecting contributions to reduce student loans and health savings accounts, and allowing participants to contribute to their 401k from bonuses and other income sources.
Given how we now live and work, lifestyle benefits, such as access to dog walkers, childcare providers, therapists, and just about anything else, have become attractive value adds for employees. Job seekers are willing to work hard, but they also want organizations to support this with correlating benefits.
Young professionals highly prize opportunities for advancement in their careers. Employers who offer career-pathing, skills development, or leadership development programs are attractive to job seekers. Job seekers are looking to build their resumes! Might they leave after they do so? Possibly! However, if you do not develop employees, they will assuredly leave for an organization that supports their professional development and helps to build value for their employment.
Attract the Right Talent
Of course, there are many other radical and sometimes unconventional methods to compete for the best talent in the recruitment world. One thing is certain when attracting talent: the outdated recruitment techniques and the antiquated benefit packages are long gone. Top job candidates require perks, top benefits, and lucrative packages. This means thinking out of the box, being more creative than competitors, and radically replacing outdated and historic packages with a modernized mindset.