Companies are made or broken based on the quality of the talent they’re able to attract and retain. From blue collar to white collar, we’ve found ourselves in a worker-driven market. As the world continues to process lessons of the last year and a half, many talented professionals have set specific boundaries for their careers in terms of key benefits they need to maintain their health, finances and work/life balance. Globally, the conversation about labor has already resulted in several drastic changes, many of which have proven mutually beneficial to workers and employers alike. At Talance Group, finding solutions that help businesses and candidates is our primary goal. Keep reading to learn the 4 key benefits that will help you attract and retain the talent you need to grow your company and keep it thriving.
1. Flexible Work Schedules
After having a taste of life without long commutes and watercooler chats, many workers are demanding remote and hybrid work options, and the research backs them up. For many highly-skilled professionals, productivity and output increased measurably during their time working from home. With developments in remote work technology, the ability for most professionals to be able to efficiently and effectively work from home has improved. The freedom this allows employees benefits them as well as their employers. Reporting less stress and overall satisfaction, as well as money saved, this is becoming an increasingly important benefit to offer workers.
2. Retirement Planning and Matching
In recent years, studies have shown that millennials in particular are grossly underprepared for retirement. Having graduated into challenging economic times and many working their way up through internships as opposed to traditional employment, many have simply been unable to set aside the money they need to retire comfortably. As talent rises to the top of these younger generations, retirement has become a key bargaining point. Companies that provide 401K with employer matching are able to attract these professionals and keep them around for longer. Not only are these candidates seeking a meaningful financial plan, but receiving this type of benefit indicates a greater investment on the part of the company which inspires better work and commitment. With this becoming a fairly standard benefit, companies that don’t heed the call may find themselves struggling to attract and retain the best.
3. Health and Wellness Benefits
While health benefits are also fairly standard in the professional world, the quality of those benefits and addition of wellness features plays a large role in where talented candidates choose to work. Comprehensive medical and dental plans are ranked as the number one make-or-break benefit for candidates by 95% of HR professionals in a survey conducted by Society for Human Resource Management. Offering group plans that prioritize preventative care, mental health, dental and vision will enable employers to keep their talented employees for longer while improving their quality of life and in turn their labor. Including other wellness benefits like in-office yoga, healthy snacks and fitness trackers also demonstrates an employer’s overall commitment to their workers and improves job satisfaction.
4. Paid Family Leave
Another key finding of the SHRM is that paid family leave is an increasingly sought after benefit. Companies that invest in paid family leave for new babies, adoptions and caregiving for sick children and elder family members demonstrate an investment in their workers that translates into retention and higher quality work. When Google increased their paid parental leave from 12 to 18 weeks, they saw a 50% increase in mothers returning to work. In 2016, a Deloitte survey found that 77% of employees said paid parental leave influenced their choice of employer.
Find and Retain Top Talent with Talance Group
Talance Group believes that the relationship between employees and employers should be mutually beneficial. When seeking to round out your team with elite professionals, providing these key benefits gives you an edge over your competitors. Additionally, working with skilled recruiters enables you to navigate the worker-driven market with greater insight and access to the talent you need. At Talance Group, we boast an ever-growing network of vetted candidates from entry-level through C-suite. We take the time to listen to your needs, wants and what you’re able to offer and match you with exceptional candidates for placements that will last. Reach out to Talance Group today to begin your next talent search.
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