How does a business prosper and grow? This is perhaps the most commonly asked question among business owners and managers, and it is one that you will likely get a different answer depending on whom you ask. However, one answer that is seemingly universally agreed upon is that to succeed, you need to be able to attract and retain top talent. And in case you didn’t already know, this is usually easier said than done.
While there are many ways to attract top talent, much like there are many ways to succeed at business, for most organizations to even be considered as a potential employer, they need to offer a competitive compensation package, and this goes above and beyond salary.
So, what do top talent attracting compensation and benefits look like
Although we imagine employers wish for employees who love their jobs and nothing else, in reality, that simply isn’t a viable option. When a company helps its staff find a healthy work/life balance through scheduling, such as flexible start and end times or remote work, it shows potential employees the organization values their time and not just during business hours.
For the most part, gone are the days when an employee works tirelessly at a job for 35 years, receives their gold watch and happily retires. Rather, employees purposely look for jobs that have the potential to provide them with development opportunities and growth within an organization. To attract the best talent, an organization must not only accept the possibility of a desire to change jobs, but also provide a clear path and resources for them to do so.
Health & Wellness
While compared to our neighbours south of the border, Ontario has it pretty good in terms of healthcare coverage; however, top talent is looking for much more than just the basics. Providing a comprehensive health and wellness benefits packages is quickly becoming the new norm, with options such as free or subsidized gym memberships, childcare, massages and the opportunity to enjoy these benefits during working hours. This aspect of benefits is also closely related to work/life balance as more and more employers are realizing the best way to attract and retain top talent is to take a holistic approach to their well-being.
Although perks are nice and have quickly become one of the many attractions for top-tier talent, by and large salary is still the number one driver. However, salary may include a little more than you think. When it comes to hiring the best, not only do they want to be paid a fair and competitive amount, but a growing trend is seeing employers offering paid time off and going one step further and taking care of the basic needs of their employees like food while at work.
When it comes to attracting and hiring top-tier talent, it is almost always best to consult an expert whose job is to not only understand the competitive landscape of the job market, but also has in-depth knowledge of what the top employers are offering in any given industry. Contacting a reputable staffing firm with the right experience can help you navigate the world of competitive benefits to give your business a leg up over the competition.
Are you looking to grow your business by hiring the best? At Employment Professionals Canada, we have made it our jobs to not only understand the job market, but also how to align the right employers with the right staff. Contact us today and find out how we can start working for yo