How to Attract Top Quality Applicants Without Overpaying Them

With the Baby Boomers retiring and a shortage of skilled workers, there’s growing competition to find and recruit quality candidates. A fair pay rate isn’t enough anymore. Applicants expect no less. Younger generations aren’t necessarily looking for the best possible salary so much as the perks that make a job more satisfying. Here are four ways to manage this.

Have Fun

Employees will look forward to their jobs if you provide a company culture that allows them to have a little fun. Individual entertainments will vary, but many businesses are using on-site fitness centers, putting greens, basketball hoops in the parking lot, and pool tables in the break room. Other fun ideas are bring-your-pet-to-work day, the occasional ice cream or breakfast bar, or perhaps “decorate your cube” day tie day with prizes. Fun and games are a small price to pay for more engaged and loyal employees.

Improve Benefits

With rising healthcare costs and uncertain market twists, great benefits are more appealing than top salaries. Employees will be more content with extra personal days or good medical insurance for their families. In the US, 25 percent of children suffer from chronic conditions. To find and retain the best employees, your HR needs to make the effort to learn what people really need from an employer beyond a steady paycheck.

Provide Opportunity

The majority of workers are looking for ways to advance their careers and value long-term. If your company provides training, advancement opportunities, and help with education, employees are more likely to stay and take advantage of it. For instance, by supporting workers in pursuit of a bachelor of arts in business administration, you earn their loyalty and gratitude, and you get a better employee.

Collect Feedback

Keeping employees happy depends upon understanding their needs and concerns. The best way to understand your own employees is to get their feedback. Ask for applicants to fill out paper or online surveys on the feelings about your process. Get similar feedback from employees during training and after a grace period of three to six months. Also look for feedback on your processes during performance reviews or from departing employees. You’ll be able to review this information to determine what was done wrong and what was done well.

Today’s companies are actively hunting for ways to find and keep the top talent for every open position. Becoming a company that’s known as a great place to work will help you stand out.

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