Social media has changed the recruitment business because now recruiters can identify and connect more easily with “potential passive” candidates and discuss new opportunities.
In order to avoid people being lured away it is important to ensure that the entire benefits package and working environment are competitive and attractive.
It is becoming more prevalent that candidates are not only motivated to move jobs by the financial rewards of a higher basic salary or a lucrative bonus, or commission payments, but by the intrinsic factors on offer as well.
Companies are reviewing their total remuneration packages and offering benefits which affect employee well-being such as an extra day’s holiday on their birthday or on a significant birthday.
In addition, some are offering a “well-being” day where they have an additional day’s holiday to do something that makes them feel happy!
Flexible benefits are also popular where employees can trade or buy extra holiday, which may allow them to fulfil a dream of a three-week vacation to a long-haul destination or spend extended quality time with their family.
Intangible benefits make employees feel valued such as their ability to make an impact, to feel that their voice is being heard and that their suggestions are reviewed and implemented. This culture of appreciation and rewarding achievements breeds loyalty and commitment.
By advertising vacancies internally first, it ensures that staff have career progression and by carrying out performance reviews and training needs, it analyses and helps define their career paths.
Leaving a company and accepting a new job is a major decision, which people do not take lightly.
I have recently seen some candidates who are prepared to take a pay cut, if it results in a better work-life balance and a more rewarding role with an employer who values them.
Companies who address this issue and offer flexible working, either in terms of hours and start times, or the ability to work remotely from home occasionally, find their retention rates improve because it shows that they are supportive of personal and family obligations.
It is sometimes referred to as “Intelligent Working” as it allows for a working schedule outside of the traditional working pattern, and can also include job share and unpaid career breaks.
Other aspects of the remuneration package can have an impact on lifestyle eg childcare vouchers, the cycle to work scheme, social events and discounted gym membership are worth considering as a way of recruiting and retaining staff.
The physical working environment can be important as people tend to appreciate a clean and modern work place. Car-parking can be a deal breaker and employers who are able to offer discounted or free parking are more attractive.
Once a candidate accepts a job offer it is imperative that the employer ensures that the process of joining a company runs smoothly.
If a candidate is on a long notice period they may be approached and tempted by other jobs during this period. By making regular contact and inviting them to participate at social events, it helps to keep them motivated to join.