The consequences COVID-19 has had on the job market are still being felt, even more than a year later. Countless roles remain open across multiple industries and are proving difficult to fill. Employees may be suffering from a COVID-related disability, seeking fully remote work, or simply looking for a company that demonstrates a higher level of care for its employees. Regardless of the reasons, companies still need employees to fill roles, making it more critical than ever to differentiate your job from the rest of the job market.
Looking for ways to incentivize potential hires to commit to a role with your company? Read on for a few suggestions on how you can make your job stand out to the best talent available.
Flexible working options
The COVID-19 pandemic confirmed for employers what employees have known for years: flexible work schedules can be both a productive and enjoyable option for workplaces.
As hybrid work moves into the norm, more employees are beginning to expect some type of remote work option from their employers. Envoy found that nearly half of the employees they surveyed were likely to look for another job if their current employer didn’t not offer a hybrid workplace. Employees cite a variety of reasons, from lack of childcare to high maintenance pets, as reasons they might look for remote or hybrid job options.
Make it clear from the beginning of the hiring process that you can offer flexible working options- it could be a make-or-break detail for a potential employee!
If you’re still uncertain about hybrid or remote options, check out our blog post about why you should think twice before ditching remote work.
Generous PTO policy
A generous PTO policy is a particularly attractive incentive in today’s job market, particularly to younger workers or workers with families. The average American employee receives 11 days of paid time off each year and limited family leave. When putting together your package, think of ways you can differentiate yourself from the competition.
Consider offering unlimited sick days or extended maternity/paternity leave, year-to-year PTO carryover, or paid days off to volunteer. Microsoft offers a floating holidays option to allow employees to celebrate days that hold meaning for them, while American Express and Ericsson employees can even buy and sell their vacation time.
Once you assemble the best PTO package for your company, check out how Kin can help you manage your employees’ time off, whether it’s vacation days, sick days, or family leave.
Great pay + bonuses
It may feel painfully obvious, but pay is one of the key incentives for an employee to take a job. Compensation that reflects the role is key to attracting and retaining quality employees.
Hiring and referral bonuses also serve as a way to sign employees quickly or find fresh talent outside of your applicant pool. Some employers even offer student loan payments or tax incentives for signing, both of which are attractive options to the 40 and under crowd.
Finally, consider what employees are receiving beyond a paycheck. Is their benefits package comprehensive? Is their deductible reasonable? Do they have a discretionary wellness budget for therapy or gym memberships? Glassdoor noted that employees’ second most sought after quality in a job is a sense of security, including health benefits and a retirement fund. Companies that demonstrate care for their employees, even at a smaller scale, are more likely to see employees commit to long-term employment. Even a small company unable to provide a wide range of benefits or a 401(k) should strive to ensure their companies feel taken care of and valued as more than just workers.
According to GlassDoor, the number one incentive that potential hires look for from their employer is potential for growth. They want to know when they sign on with a company that they have potential to rise through the ranks.
Providing opportunities for job shadowing and networking, building formal programs that develop employees’ skills, and even having regular and honest conversations about your employees’ career goals and milestones are all attractive to a potential hire.
If you’re looking to be more involved with the career development process, Kin can help your employees track their performance, career milestones, and more with our performance management feature.
Looking to schedule a demo to see how Kin can help you keep your employees happy and on track to meet their performance goals? Reach out to us!