The fierce competition for talented and skilled individuals defines today’s business environment. While offering competitive salaries is essential, attaining top talent calls for moving beyond traditional compensation packages. Instead, attracting talent demands that companies adopt creative approaches that align with the changing priorities of their desirable demographic.
This article discusses a number of non-monetary incentives that can be used to attract and retain top talent. These strategies can ultimately contribute to the long-term success of your organisation in finding and keeping highly sought after employees.
Salary Sacrifice for Used EVs
Consider teaming up with companies like loveelectric.cars to offer your employees EV salary sacrifice for used electric cars. This will ensure you’re meeting your sustainability targets and offering an attractive benefit that potential employees can’t refuse. Ultimately, such an initiative allows brands to attract top talent as people are drawn to incentives like these that other companies do not offer.
Holistic Wellness Programmes
Go past the usual gym sign-ups and basic health programs. Make complete “well-being environments” at work. Consider mindfulness retreats, workshops on nutrition, and adding spa discount days for staff. Through this wellness program, businesses have the opportunity to make their workplaces into havens where workers can refresh, relieve stress, and discover equilibrium. A happy workforce makes for a better work environment for all.
Diverse Recruitment Retreats
Why choose normal job fairs when you can organise inclusion incentives? These gatherings bring together people from different cultures to work as a team, think of new ideas, and display their abilities in a welcoming space. Companies that promote friendship among their workforce with different cultures draw in and keep employees who are looking for workplaces where inclusion and creativity are valued.
Immersive Skills-Building Experiences
Leave behind the boring training and welcome a journey of education. Businesses can provide in-depth experiences for developing abilities, such as retreats to places filled with solitude to sharpen particular talents. Coding in the mountains or doing leadership training near the ocean — these activities draw in people who like to think outside the norms. Often, people who think differently are the star employees. So promote a culture of thinking differently, with offbeat experiences your staff can immerse themselves within.
Hands-On Philanthropy Projects
Transition from usual business social projects to impact immersion activities. Firms can provide their workers with the chance to actively participate in local events to help people in need. Having days your employees can take off to give back to their community is a great way for your workforce to get a sense of fulfilment away from their desks. This highlights how their work truly makes a difference, but it also draws in people who are motivated by the chance to create real change in the world.
Personalised Compensation Packages
Consider that salary is not only the figures on your pay slip — put together “Beyond Benefits” customised bundles. You might provide special extras like funds for learning, breaks for personal work, or a chance to own companies’ shares. An example of this could be an additional day off per year if an employee hits specific KPIs.
Global Career Guidance
You could match your staff with mentors from not only inside the company but also all over the world. Try to find out what makes your staff tick and then help them along with pairing them with a mentor to learn a new skill or get started on a side hustle.
For example, a Marketing Manager in London getting advice from a Brand Specialist in Tokyo. This worldwide outlook helps to improve workers’ career paths and also builds a strong community among experts, which supports staff retention and encourages development. Plus, people from different cultures often have whole new ideas to bring to the table, which ultimately can help push your company toward innovation.
Innovation Sanctuaries
In a world where technology is vastly important, employers could make tech oases. These are special places for creativity that give workers access to the latest tech workshops, virtual and augmented reality activities, and programming competitions.
A great example of this in the past was Google. Google encourages staff to spend 20% of their time, or one day per week, working on a project of their choice unrelated to their usual role. Massive innovations have come to fruition from this, such as Gmail and Google News.
Closing Thoughts
At the end of the day, the job market today is facing an employee shortage, and it’s becoming difficult for companies to find and retain top talent. These strategies, such as salary sacrifice schemes for used EVs and building a well-being ecosystem, won’t guarantee that you’ll retain your best employees, but they’re a great starting point. Think outside the box and ask yourself, “What would I want if I were an employee working here?”
