If you want to consider salary benefits as ‘the star performer’ while attracting new staff to your business, then what does the supporting cast look like?
This post offers a range of alternatives to tempt your potential new employees. Each one has merit, and each of them has proven to add something extra when salary doesn’t manage to knock the ball out of the park on the first hit.
1. Professional and personal growth opportunities
The excitement of a new job and its associated challenges can steadily wane for the go-getters and high-achievers joining any business. If you provide the constant stimulation they crave, new and fresh targets to conquer, especially items to forward their career path, this could be just the push they need.
2. Stock options and company shares
Stocks and shares offer candidates and employees additional financial incentives. They provide long-term value over a simple and soon forgotten cash bonus. Scores of larger corporations offer stock options as periodic bonuses. And so they should. It’s just what many of your hi-flyers are looking for.
3. Health Insurance
Dependant on location, covering your employee’s health insurance or medical costs is a real bonus. To be able to provide assistance to look after a candidate’s family’s health and medical provision is far more powerful than it appears at first glance.
4. Working flexibility
Working communities are pushing ever further away from being tied to a desk and an office. Technology has allowed workers to operate on the fly efficiently, to be able to perform the same role wherever they are, and in turn, any space they choose into their office.
The practical benefits of working from home are vast, and the social benefits of working remotely are just as tempting. If you can allow your staff the freedom they crave, it’s a very attractive addition to add to their package.
5. Vacation – and bonus vacation time
Few go to work because they’re deeply in love with their job. However much we enjoy our daily challenges and successes; there aren’t many of us who wouldn’t grab at a few extra days off or a bonus week’s holiday.
Bonus vacation time doesn’t need to be offered as standard but could be a productivity-based bonus or a recognition of achievement. As long as your candidate knows it’s on the table, it could help influence their decision to come on board.
6. Advanced education
You may not offer the top salary in their field. Still, if you’re giving candidates opportunities for education, to build their CV and add to their qualifications, these are the elements that will earn them higher salaries further down the line. A forward-thinking candidate will embrace paid-for or subsidized education.
‘Excitement, adventure, a Jedi craves not these things’; however, your new candidate may. If your business operates from offices located throughout the country, then it could be a massive draw for the globetrotters amongst your applicants.
Some candidates will hunt down the positions where relocation opportunities are available. If you offer this, make it known during the interview or advertisement.
8. Team and group stimulation
Humans are social creatures. We thrive on interaction and stimulation. Working and playing as a team is something many of your staff will thrive on. Allowing candidates to see this in action provides insight into the less work-based benefits your office community offers.
9. Office culture
Staff who enjoy being at work are more likely to stay in the same job for longer. Working environment and office culture stand for a great deal in employee satisfaction. Creating a happy and connected environment, one that’s a pleasure to be a part of could make leaving the business feel like leaving their family.
10. Social activities
Out of office, social time offers employees a chance to develop personal connections and bonds. These bonds deliver better working relationships based on respect and honor. If your candidate is relocating to join you, it also offers instant access to a new social life—one to replace the one they’re leaving behind.
11. Student loan assistance
You may not be in a position to add to the position’s base salary, but offering assistance with a student loan will be seen as just that. As a business, you’re committing to a limited period of making payments. As a candidate—it’s one more outgoing that isn’t coming of their pocket.
12. Commuting cost assistance
If you operate in an area where commuting costs are high, assistance could be seen as a direct deduction from the salary’s bottom line. A savvy business will make arrangements to buy its travel in bulk and in advance, creating savings. More importantly, it allows the candidate to consider their entire wage their own.
13. Health and fitness benefits
Health and wellness are a big buzz in today’s society. A company gym or a subsidized gym pass not only saves your employees money, but it also provides the notion that the company cares about their wellbeing.
Even something as simple as bicycle storage facilities and work showers suggests staff health is important for the whole team.
14. The latest technology
Your employees are going to need technology to perform. That’s standard. However, the technology we carry these days is almost as strong a statement about who we are as the clothes we wear and the car we drive.
If your package includes keeping tech bang up to date, with the latest models, gadgets, and more, it could be a stronger draw than a company car.
15. A proper job title
Status. Human psychology dictates we operate on simple systems of pride, fear, and shame. Offering a candidate something as simple as a title will not only add to their self-esteem but also the value the company has allocated to them. We all want to feel heard, valued, and respected, after all.
16. A signing bonus
A higher salary is an on-going payment at the expense of the company. A single one-off payment is cost-effective and a great persuader. A figure that a candidate finds it difficult to ignore could be the attribute to tip the scales in your favor.
17. A relocation package
Relocating for work is a great upheaval at a vast expense. A business offering to help with costs shows initiative in helping their team outside of work. It also takes the strain off the candidate’s finances. Relocation packages are a great sway for those who need it.
18. Additional time off to engage in volunteer programs
Offering a candidate additional time off to engage in community programs or volunteer work is not just a bit of extra time off. You’re showing respect and admiration for both your employees and the causes they support.
19. Parental leave
Family responsibilities come with particular demands and disasters. Support and understanding from an employer go a long way to earn much-valued peace-of-mind. Candidates may well be attracted to the support and parental leave covered in your initial package. At the very least, offer open negotiation relating to your candidate’s specific needs.
Providing childcare, or assisting with its cost is becoming increasingly popular with parents and single-parent families looking for a healthier work-life balance. It won’t apply to every interview or package, but for many, it is an absolute blessing.