6 Key Benefits that Attract Top Talent

In today’s job market, employers are finding it increasingly difficult to attract top talent because the competition is stiff. Typically, the big corporations have money to hire top-notch recruiting agencies that are in the business of advertising for and attracting the very best within a given industry. That is what they do and they are usually very good at it or they wouldn’t be in business long. So, what it is it that these recruiters advise companies to do in order to attract top talent? Here are six of the key benefits job seekers are attracted to.

1) Retirement Planning

One of the things which is increasingly worrying millennials is retirement. It is becoming obvious that boomers are simply unprepared for the cost of living through retirement with what they were advised to invest in retirement savings and packages of all sorts. That 10% of their gross wage figure didn’t add up to what they needed in today’s world with the cost of living skyrocketing and so today’s younger generation are looking at a different type of retirement planning that is aimed at growing wealth.

2) Paid Time Off

Employee burnout is among the most common reasons for leaving a job so it would do well for employers to find creative ways to avoid this situation while attracting the cream of the crop. Paid time off is a huge benefit to new recruits who understand the need for personal days. Instead of offering the typical paid sick days and vacation time, why not add personal time to the list? For every so many hours an employee works, he or she accrues paid time off, and the more generous you can be, the more likely you are to attract those who understand the need to regroup and refresh.

3) Flex Time

Flex time encompasses a number of benefits all wrapped up into one. Not only do flexible working conditions offer families time to be there for the kids when both parents are working but it also enables some parents to work a part of their week at home. One of the reasons so many young people put off raising families is a demanding job, so by offering them flexible working alternatives where they can have the best of both worlds you are likely to attract those individuals with good business sense.

4) Competitive Wages

As the old saying goes, you have to spend money to make money and what better place to spend it than on the very people who are growing your company by the day? Offer better than competitive wages and see just how quickly the top talent within your industry begin seeking employment with you. The cost of living keeps going up but wages are not rising proportionately. Give a generous salary and you are likely to attract the very best your industry has to offer.

5) Promotions / Growth Potential

Motivated individuals are extremely hard to find. By giving employees the added benefit of promotions from within, you will find that those who have a desire to go somewhere in life will want to learn more about what you have to offer. Growth potential is huge among today’s job seekers and the company that offers the most avenues for growth is going to be the fisherman with the biggest worm, the most colorful lure.

6) Performance Based Bonuses

This is nothing new but seems to be something many companies have gotten away from in their thirst to pay less and keep more. Somehow there seems to be a mindset that an employee should do his or her job because they are getting paid to do it, but that doesn’t necessarily inspire them to go above and beyond. If you are looking to attract employees who are real ‘go getters,’ add performance based bonuses to your benefits packages. Just watch how quickly each and every employee will be striving to do better in their respective jobs. From maintenance to administration, performance based bonuses inspire staff to do their best and new recruits to seriously consider your company to work for.

While there are many more things you can throw into the mix, these benefits are the leading attractions for today’s top talent. If an employee is going to be an asset for your company, you want them to be happy on the job – happy enough to stick around for more than a year or two. Looking to attract top talent who will grow your company in the process of growing their own wealth? Put together a sound benefits package and they will come out of the proverbial woodwork to see just what you have to offer. That’s the key to recruiting top talent.

Author: Chakraborty

Dr Chakrabarty is faculty member of Delhi University, a QS ranked university in India. She holds a patent and multiple publications in her name. Her area of research is in smart technologies, integrated devices and communications. She also has a penchant for blogging and is an editor of Business Fundas.