It’s a tough job market out there and many employers can’t afford to offer the most important thing when candidates are considering a job – Salary. So smart Company’s are getting creative with not just recruiting but retaining great talent and making their Employee Experience on par with their best Consumer experience.
Employers that can’t stretch their staff salary’s are now bumping up the benefits and other incentives that they can offer. Netflix has recently started offering one year or parental leave to both salaried and hourly staff. Airbnb now gives staff $2000 to spend annually on travel and Amazon are trialing a 30hr full-time work week to help employees with work life balance. If their huge growth and success is to go by then its working.
The Future Workplace and Beyond.com study entitled “The Active Job Seeker Dilemma” found that 83% of HR leaders said “employee experience” is either important or very important to their organization’s success, and they are investing more in training (56%), improving their work spaces (51%), and giving more rewards (47%). Companies are also driven to focus on creating a compelling employee experience as the war for talent heats up. Mercer predicts that 90% of employers anticipate more competition for talent, especially in India, North America, and Asia. So making the workplace an experience allows companies to embed their culture and values in the workplace and use this to recruit and retain top talent.
So what do Employees want after salary when they are considering a particular role or company and what matters to them long term?
1. Work life balance
Employees in a recent survey reported this as being the most important factor to them, other than salary, when it comes to deciding whether to take a new job or leave their current job. The best way to run an employee out the door is to overwork them. There are only so many hours in the day, and the more time that an employer demands of its employees, the less time the employee has available to spend pursuing their own interests and hobbies or with family and friends. And those extra hours aren’t necessarily worth all that much to the employer anyway, yet it causes the employee to build resentment and risks burning them out. Employers should ensure they are enabling—or at the very least, not preventing— employers from having rewarding and fulfilling lives outside of the workplace. Offering a flexible work schedule is one of the best ways to ensure employees are able to sustain good work/life balance, and it typically doesn’t cost an employer much to make such adjustments, like offering flex time or telework options.