Six ways to maximise your offering to staff without breaking the bank

With record numbers of job vacancies at the moment, many businesses are struggling to recruit into key roles – sometimes having to compete to secure the best talent that’s out there.

However, rising salaries can be a challenge. Offer a raise to one person, and other colleagues will want to know what’s happening to their pay. The knock-on effect, coupled with rising inflation, could seriously impact your business costs.

It’s worth remembering, however, that your offering to employees isn’t just about salary. Obviously salaries have to be competitive, but it’s not the be-all and end-all of your proposition as an employer. Here are some other ways to make yourself more attractive to employees:

1. Offer flexibility…

Time is now seen as an increasingly valuable commodity. People want to be able to spend time doing the things that matter to them, with family or following their interests. Increased holiday, family-friendly hours and a degree of flexibility are increasingly prized, and in some cases, expected, by employees.
The pandemic has shown that working from home doesn’t necessarily impact productivity, and in some cases can actually increase it. A growing number of UK companies are currently trialling a four-day week (with no loss of pay); again, data from other trials are showing an uptake in productivity and performance.

2. … good benefits…

Pulling together an attractive benefits package is a great way to attract and keep people in your business. Health insurance, life insurance or income protection are valued by those with loved ones to look after. Fitness classes and/or gym membership helps those looking to improve their health and wellbeing, and a season ticket loan can make commuting costs more manageable. I’ve even seen companies operate a electric car purchase salary sacrifice scheme, with on-site charging points to facilitate use.

3. …and training opportunities

Having the opportunity to develop skills and gain qualifications are a huge incentive for many people. Government apprenticeships have made this easier and more affordable for employers to offer to staff.

4. Show you care

It’s important to show how much you value your people, both when recruiting and once employed. Show that you value the work they do and that you take staff welfare seriously. An employee assistance programme, for example, can give staff access to support that you might not have the resources to provide on-site.

5. Increase your ‘feelgood’ factor

How does your company fare when it comes to the environment and social responsibility? Can you improve it? There has been a reprioritising of values in recent years and more people want to work for an organisation that’s focused on making the world a better place. They’re also more likely to scrutinise their employer’s ethical credentials with a critical eye.

6. Shout about it!

You may well have a fantastic culture in your workplace – but does anyone else outside the business know about it? Make sure it’s all in evidence on your website, in your recruitment application pack and in your job adverts. Sell the benefits of working in your business to current and future employees.

People Puzzles can help you attract and retain the best candidates by showing your business in the best light to current and potential recruits. Contact us to arrange a free 30-minute video or phone call with one of our regional experts to explore your needs.

 

Vic Foster, People Director

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