In testing economic times, savvy employers can find it hard to attract the right people to their organizations. The company’s salary pool tends to become slightly shallower than in boom times and everyone feels the effect of budget cuts. Meanwhile, the best potential employees may feel cautious about changing roles in times of uncertainty, especially for financial compensation that is not a sufficiently remarkable improvement, but other perks are valuable to them.
What Employees Value the Most
However, research from the Center for Talent Innovation has shown that pay is not necessarily the main motivating factor. Other factors or perks come into play. Flexible working hours, genuine recognition for good work and the sort of working culture where employees are encouraged to take breaks all score highly as desirable for educated employees.
This bodes very well for those recruiters who believe in supporting candidates to find roles that are about the best fit, not just the biggest pay packet. Rather than simply dangling cash carrots, a quality-driven approach is required, one that empowers candidates to seek out like-minded employers for long-term benefits. It also encourages organizations to be creative in their recruitment strategy, taking a 360-degree view of what they can offer someone who wishes to join their company.
Therefore, any company who is looking to attract the best employees in their field, but which does not have unlimited salary funds should take heart. Get organized and draw up a list of the aspects of working at your company that support a great work/life balance or make staff feel valued. Share the good news on your careers page ‘Why Work For Us?’ section, in dedicated blog posts and anywhere else that you would like to draw the attention of good candidates. Intelligent prospective employees know that there is far more to working life than simply the pay check, so show you are like-minded and make sure they understand the diverse benefits and perks that working with your company can bring.