The business landscape in 2022 is dramatically different than it was only a few years ago. In a post-pandemic world, employees are leaving jobs in droves in search of higher-paying positions or a better work-life balance.
The U.S. Bureau of Labor Statistics reports that a record-setting 4.5 million workers voluntarily quit their jobs last November, and the “Great Resignation” continues to leave employers scrambling to fill openings and retain talent. With the competition for talent greater than ever, hiring managers need to find creative solutions to attract qualified employees and keep top talent on board. Here is a guide to creative staffing solutions that have proven to be effective in 2022.
Offer Retention Bonuses
Offering staff retention bonuses, in addition to their regular pay, for staying with the job for a minimum agreed-upon time is a great way to keep good workers on board. A retention bonus is also a smart move after key performers have completed professional development courses as it prevents them from taking their newly earned skills to the competition.
Retention bonuses are not specifically tied to work performance, but they do often inspire employees to work harder. Most importantly, they foster long-term company loyalty, giving businesses a reliable workforce that can be depended upon in challenging times, such as during mergers.
Be Realistic About Requirements
At a time when companies are struggling to fill openings, it is a good idea to make sure that applicants are not needlessly ruling themselves out. This means ensuring the company is not requiring more experience or qualifications than necessary for a particular role.
When reviewing job postings, many people move on quickly if they do not meet the required minimum education level or years of experience. In some cases, however, these requirements are set too high. Businesses should ask themselves whether a candidate who has experience and is otherwise a great fit really needs a college degree, or if a very talented individual with an impressive portfolio is more important than having a minimum of 10 years of experience. Reevaluating the job’s requirements can help open the door to far more candidates.
Target Workers With Gaps in Their Resume
Some employers are finding success by targeting workers who have been “out of the game” for some time. Perhaps these are people who ended a promising career early to raise children and now want to go back to work, or those who were laid off when the pandemic began and have not been back to work since. Businesses that do not have a problem with this should make it clear that they are open to hiring workers with these types of resume gaps. This can lead to a significant boost in the number of applications they receive.
Offer Flexible Working Options
A flexible work schedule is an attractive proposition to modern job seekers, and it can also benefit employers. Not everyone delivers peak performance during the hours from 8 to 5; offering a flexible work schedule allows people to work when they are most productive.
For some employees, this can allow them to avoid a commute during heavy traffic, which may mean waking up very early and arriving at work frustrated. For others, it could mean the difference between being able to accept a job or having to pass if there is a conflict between their work hours and their children’ school hours.
Offering flexible working options increases efficiency, employee morale and overall profitability.
Offer Remote Working
The benefits of remote working an be just as advantageous to employers as employees. Remote working is growing in popularity, particularly among younger generations of workers. Some businesses are becoming fully remote, which can lead to significant savings in terms of overhead and workplace expenses. Others are combining remote working with an office presence, asking employees to spend a few days per week in the office and the balance at home.
Many employees appreciate the freedom and flexibility of remote working. It may mean having time to take on more family responsibilities because they are not spending as much time preparing for work and commuting. It can also increase employees’ disposable income as they can eliminate expenses such as commuting, parking, work clothes and takeaway coffee and lunches.
Remote working also means that employees will not be bound to a city that does not meet their lifestyle goals. Cities where many businesses have their headquarters may not be a suitable location for many people. Remote working means people can live wherever they are most comfortable as long as they have a good internet connection, and it may also allow them to enjoy a more favorable cost of living.
This also provides hiring managers access to a wider choice of talent. Businesses that offer remote working will not be restricted to hiring only those who live within a reasonable distance of the business. Instead, they can hire from all over the country, raising the chances of finding someone who is a perfect fit for the role.
Create Wellness Programs
Employees who take part in health and wellness programs are more inclined to favorably review their company as a positive work environment and are more likely to continue working for their employer.
Wellness programs can include gym membership subsidies, organizing company sports teams or fitness challenges, offering stress management workshops, providing ergonomic office furniture and equipment, and installing massage chairs.
There are plenty of benefits awaiting businesses that offer wellness programs. Participating in these programs encourages healthier behavior, which improves productivity. By helping employees to stay healthy, companies can save a substantial amount of money on their healthcare costs.
Contact the Professionals at Business Benefits Group
Attracting and maintaining qualified professionals in today’ competitive job market can be very challenging. Businesses need to take steps to improve their benefits offerings to appeal to a broader audience or risk losing talent to the competition. For assistance in developing the right offering to attract and retain top talent, contact our team of employee benefits consultants at Business Benefits Group (BBG).
