Modern day compensation is not all about the money. While many companies are focusing on driving key professionals into their organizations, if they only focus on providing a paycheck, they could miss the best professionals in the market. While a salary needs to remain competitive, it is far from the only thing that today’s professional wants to switch jobs or to accept one offer over the other. For any employer or HR recruiter looking for a top-notch candidate, there is more to dangle as a carrot than just a high paycheck.
What Else Candidates Want
Employees value a great number of things. Just a few years ago, employer loyalty was enough. Those who had a job were not tempted to leave for another offer because they were happy with what they were doing. Now, it is easy for employees to go from one company to the next especially when the incentives to do so are better than where they are right now. How can your business be the greener grass for those employees you are after?
Take a look at some of the other values employees have a desire for in today’s workforce. If your company cannot or does not offer these, it could be missing out.
- Employees want to have the ability to make decisions. From simple ones to more complex project management decisions, employees want to be trusted enough to do their job. By empowering employees, they perform better, too.
- Employees want job security. In a company that is struggling, it will be hard to entice a key player into the ranks. Job security often translates into a company they will want to work with for a long period, too.
- All employees want respect. They want to know that you value their opinion and that their abilities matter to the company. Actions and words make a big difference in whether a company is worth working with for the long term.
- They want a challenge. Sometimes, the company that can offer the experienced executive the biggest challenge with the best reward can also be a better option than the easy job. If an employee does not feel they are using their skills in their current position, they may be willing to talk to another company who can challenge them.
- They want perks and incentives, but they want to do their job their way. Having access to MP3 players on the job or being able to incorporate a more laid-back attitude is important especially to the younger generation. A business that wants to find great employees needs to communicate with those employees about their desires.
For those businesses and HR managers looking for the best of the best in talent, remember it is more than just money that candidates want. Have confidence in the employee. Give them the freedom necessary to do their job their way. In the end, the company ends up benefiting by attracting better employees who are happy to stick around.