What Benefits will Attract Talent to your Organisation?
Many companies are finding it increasingly difficult to attract and retain talent to join their organisation. The Irish employment market is flooded with vacancies and we are seeing people staying in jobs for shorter periods. All of this movement means that the competition between companies to scoop up the best candidate can often come down to salary and benefits. For large multinationals this is not an issue, they can offer their employee’s full health cover, pension contributions, onsite gyms and subsidised canteens. It is start-ups and SMEs that are losing out on talent that could help grow their companies because of budget restrictions. Each organisation will be able to offer their employee’s different incentives, if your budget is more limited there are still benefits you can offer that won’t mean going over.
One of the most popular benefits employee’s seek is unlimited annual leave. In Ireland 20 days is the standard however offering an extra day for an employee’s birthday or adding an extra day at the end of the year for having 100% attendance can make the difference when accepting or rejecting an offer.
If you cannot afford an onsite gym, contributing to an employee’s gym membership and offering complimentary fresh fruit is a small gesture that shows your employee’s you are mindful of their health and wellbeing.
Social outings are a good means of bonding with other employee’s as well as letting off some steam. If, however you cannot afford lavish company outings then a simple pizza day can do wonders for morale. You could make these gatherings monthly or quarterly. They are an excellent way for everyone to relax and get to know one another better.
People are becoming increasingly conscious of the ethics behind the brand that they are working for. They want to work for an organisation that is diverse, inclusive, recognises injustices and gets involved in local causes. Allowing your employee’s to partake in charitable events on your behalf is a good way to allow you and them to give back to the community.
Something that will not weigh heavily on your budget and be highly beneficial to both you and your employee’s is feedback. Employees will appreciate your feedback whether it is positive or constructive criticism. Knowing that your managers and other superiors care about your professional growth and appreciate the hard work you put in gives an employee confidence in their work and workplace.
If you can stretch your budget a bit further some benefits employees also seek are:
- Flexible working hours
- Education assistance
- Offsite social events
- Monthly onsite exercise classes
- Target bonuses
- Remote working
- Pension contribution
- Health cover
- Maternity / paternity leave
- Sickness leave
- Share options
- Relocation assistance