Do You Have the Right Employment Offer?

right-employment-offer_blog_staff-managament-smx_blog_R

Attracting top talent can be tough especially in a job market where candidates can afford to shop around to get the best offer. If employers want to stay competitive, they need to offer more than just a decent paycheck. Candidates value other factors such as growth potential, company culture and work-life balance as well. In fact, a 2015 HubSpot survey found that opportunity for growth within a company was the most important factor for candidates in all regions of the world with the exception of North America where growth potential and company culture tied for first.

Market Analysis

One of the first steps in evaluating your employment offer is to conduct a market analysis. A market analysis provides you with information like employee demographics and salary benchmarking that you can use to tailor your offer to each market you’re recruiting in. Researching major employers and their starting wages in the area will help you position yourself competitively against them.

Competitive Incentives

A market analysis can also provide insight into opportunities to enhance your employment offer. For example, if your market analysis shows you that the majority of the population relies on public transportation you’d want to make sure your facility is accessible via this method. If it isn’t, you might look into providing a free transportation alternative for employees. Other competitive incentives can include extended maternity leave, flexible scheduling and education compensation.

Accurate Job Descriptions

After determining what competitive incentives you’re going to offer, it’s important to take a look at the accurateness your job description. A 2014 survey by The Talent Board found that 77.3 percent of candidates thought that the most valuable piece of job-related content they received was a job description. However, a description that doesn’t accurately reflect the position is one of the top five reasons new employees leave their jobs, according to a recent survey from BambooHR. Make sure your job description actually describes what the employee will be doing. Otherwise, you’ll limit your pool of candidates by disqualifying them based on requirements that aren’t necessary.

Attracting quality candidates requires more than having a competitive employment offer. For more best recruiting practices, check out our white paper, Key Strategies for Success in the Light Industrial Recruitment Market >