Benefits: More Than Just a Great 401K
When an organization has an open position one of the first questions asked is how much can we pay this person. What the compensation package look like is important to any candidate, but it isn’t everything. Candidates today are looking at not just the bottom line, but to the benefits and intangibles that an organization offers. So how can your organization bring on the best new talent without having to be the highest paying employer in the area? What do you bring to your employees? From vacation time to sick pay people think of these things as the benefits of an organization. Sure paying to make people’s lives better is a draw, but there are a number of things that you won’t find on the W-2 that are benefits to working for an organization.
Growth– Employees today are looking for personal and career growth. They are looking for organizations that can enhance their resume and lives. Some ways this can be addressed are through mentorships, continuing education and training as part of the job, and visible upward mobility in the organization. Employees today are looking to enhance their career paths, if they see that the organization fosters grow and rewards them with more opportunities this is an invaluable tool. It tells candidates that they are valued employees and people. It also helps people remain in their job because there is the promise of advancement and growth.
Location– People fail to see where they are located as a benefit, but with the job market becoming a much more national and international field bringing in people can be challenging if you aren’t selling your location. With today’s internet and technology people can maintain connect to friends and family much more readily. So hiring from outside of your immediate market can bring you fantastic candidates. Figuring out the benefits of your community and matching them to candidates can be incredibly important. If for instance you are located in a small mountain community, hours from the nearest big city, it can be hard to find great local talent. Reaching out to those people who dream of living in a quaint town can be a selling point, and can enhance both your organization and the candidate’s personal life.
Matching corporate philosophy with personal philosophy– More and more people are going to work for organizations because of what they stand for. Whether it be green technology, new innovations, or corporate and employee give back, people are looking to better their worlds. Matching up with ideologies of people and having that drive corporate culture and philosophy can bring in talent. Having as part of your benefits how you help the community around you shows an awareness and can bring in candidates in who want to better their world.
Corporate community– Finding an organization that someone can feel a part of is important. People want to feel they are contributing and valued as a team member. Having recognition of employees, weekly/monthly lunches, family picnics, and other team building/recognition once again helps build the sense of community at your facility. It gives people the time to socialize and build relationships which can bring added benefits to employees and the organization.
People looking at career opportunities are looking to better their lives. Of course compensation, medical, 401K, etc are important factors in taking a new job. But people are also looking to find somewhere where they fit in, feel valued, can grow, and feel like they are doing more than just “a job”. So go ahead and rethink what your “benefits” package is and find the people who are not just the best people for the job, but that match up to your organization. Both you as an employer and the employee will end up getting the best match in the long-term.