How to Use Uncommon Benefits to Attract Talent
When job seekers begin their searches, they look for postings that match their professional titles, background, and experience. When they find these promising postings, they then comb through the descriptions to see if the pay and benefits meet their personal needs.
There are currently plenty of available positions that offer competitive pay and first-rate medical benefits, but many of these positions remain unfilled. Why? We’re in the midst of a jobseekers market right now, and these candidates are looking for more than just the traditional incentives.
To attract these quality candidates, many companies are incorporating unusual job benefits into their employment programs. Here are some of the most successful unconventional benefits that appeal to today’s more selective candidates.
Student Loan Assistance
If starting your professional career isn’t daunting enough, many young people must do it while under a mountain of debt. Student loan debt is one of the biggest stress factors for many young professionals. This is not only a major concern for employees but for their employers as well. Student debt woes can negatively impact mental health, productivity, and job performance.
When the Coronavirus Aid, Relief and Economic Security (CARES) Act was passed in March 2020, one of its provisions allowed employers to provide up to $5,250 in tax-exempt student loan repayment contributions to employees through the end of the year. This portion of the CARES Act proved so popular that, when the Consolidated Appropriations Act of 2021 (CAA) was enacted this spring, it extended this provision until 2025.
Businesses that offer student loan repayment contributions as part of their benefits package may prove more attractive to recent grads. This is especially true for Generation Z job candidates who may be less motivated by salary alone. If an organization is willing to help them overcome their student loan debt, they’ll be more willing to go above and beyond in their job performance.
Tuition Assistance
Educational-related financial assistance programs not only appeal to recent graduates and young professionals, they’re also attractive to experienced job seekers, too. Many professionals are interested in continuing their education to enhance their professional experience, learn new skills, and remain relevant in a variety of evolving fields and industries.
Offering tuition reimbursement or assistance for continued education is a great way to convince prospective employees to apply to your organization. These programs empower employees and give them the opportunity to rise to the next level. Plus, these employees will use their new knowledge and skills to introduce new ideas, processes, and enhancements that then help an organization stay competitive.
Wellness Programs and Incentives
“With work and everything else going on, I just don’t have the time.” That’s a comment many professionals make during break room chat, phone calls with friends, and in their doctor’s office. Unfortunately, caring for their wellbeing is the thing that they don’t have the time for.
Companies that offer wellness programs may attract professionals who are looking to make a career change. If their current workload and position is causing them to neglect their wellness, then they may be seriously inclined to join an organization that offers an on-site gym, dedicated in-house spaces for meditation and yoga, or discounted gym membership programs.
Wellness programs are a win-win for employees and employers alike. When employees are healthier, they miss fewer days due to illness, have more energy, and can better focus on their jobs.
Flexible Hours and Increased Vacation
Not everyone is a morning person. Some professionals work better at night. Other professionals’ schedules are often filled with time off requests for personal obligations. The traditional nine-to-five business model no longer appeals to many job candidates.
Many businesses are rethinking the traditional business hours and vacation models and adopting flexible schedules and unlimited time-off programs. If it’s feasible for an organization’s operations, and existing employees have proven that they can get their work done, then these models may generate greater interest in future job postings.
Pet Insurance
A well-rounded health benefits program that includes medical, dental and vision coverage is always a powerful incentive for attracting new talent thanks to the security it provides. However, some members of the household are not included in this traditional coverage: pets. Adding a pet insurance benefit and calling it out in job descriptions will appeal to those job seekers with furry family members.
While there are many more unusual job benefits that appeal to job seekers, these are five of the most popular and effective. If you’re looking for new ways to attract qualified candidates to your company, the experts at Elite Personnel are ready to help with great ideas and new concepts. Contact us today!