The past few years have been a bit of a “buyer’s market” when it comes to employers. There were simply too many prospective employees for too few positions. The times are changing. Quickly, we hope. This means that companies, big and small, are going to have to start competing, once again, for the best of the best when it comes to employees.
There was once a time when big corporations had all the aces as far as benefits and enticements were concerned. They could offer employees the moon, the stars, and a big fat retirement on a nice sunny beach. That was once considered the ultimate “benefits” package.
Now, there has been a shift in logic and thinking for employees. People are looking for more “user friendly” benefits packages. That is good news for small companies that are struggling to compete with the mega-packages offered by big companies. But, what it is that you have to offer your employees that can possibly compete with what the big boys in the industry have to offer?
First of all, there is something to be said about the small company culture. People want to be treated like part of a big, extended family rather than as employees. Size does seem to matter and for, perhaps the first time in a very long time, smaller-sized companies seem to be fairing better by offering the family atmosphere so many people are looking for in their workplaces.
Flexibility of Work Hours
Larger companies need to have standard, one size fits all, policies and procedures in order to avoid pandemonium or chaos from reigning supreme. Smaller companies have a little more flexibility. This is ideal for parents who need flexible schedules to work from home when children are sick and cannot go to school or simply want the flexibility to work four 10-hour days rather than five eight-hour days.
This is also attractive to people who have learned that their most productive hours of the day are not nine-to-five but earlier or later in the day. There are many people in the world who are still committed to excellence in their careers and want to be proud of the work they do for the living they earn. Employees are able to do just that when they feel they’ve put in their best effort and gotten the best possible results. Allowing your staff to work the hours that are most productive for them, makes that possible and greatly increases their attraction to the positions you have available.
Choice of Compensation
Some prospective employees prefer the choice of a benefits package or higher salary. Some families, for instance, have the benefits package of one partner that offers everything they need. They would rather be able to choose a slightly higher salary, one or two percent greater employer contribution to their 401(k), or even extra paid time off during the year.
You don’t have to offer golden contracts and top-tier benefits packages that are sure to consign your company to the ranks of bankruptcy in order to attract highly qualified and motivated candidates. Be creative in coming up with an attractive package that works well for all parties. The results are sure to be impressive.
Photo Credit: Ambro FreeDigitalPhotos.net