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In today’s competitive job market, it takes much more than standard salaries and adequate benefits packages to attract and retain top talent. To paraphrase a movie mafioso: “you’ve got to give them an offer they can’t refuse.” But what do you do when competitive compensation and generous PTO still aren’t enough? You start looking at the bigger picture.
Today’s talent pool is filled with driven, passionate workers who are money-motivated but also value their mental and physical well-being –– and your employee compensation and benefits strategy should reflect this broad spectrum of needs. Things like wellness benefits and flexible work environments used to be reserved for the upper echelon of employers, but are now an integral part of any competitive compensation strategy. For HR Leaders looking to get the attention (and signed offer letter) of top talent, they should be a part of yours, too.
Employees tend to view indirect compensation –– like health insurance benefits, wellness stipends, per diems, and childcare –– just as they would regular compensation, as these perks can be a means of supporting their standard of living just as income is. With changing macroeconomic conditions, employers looking to be competitive must implement innovative employee compensation and benefits strategies which are reflective of the current swath of talent.
Gain the competitive edge (and keep it) with these compensation and benefits strategies from top HR Leaders.