In today’s tight labor market, there seem to be two types of people, those who want an extra $1-2 per hour for the same type of work and those who want something more than a paycheck. Yes, paychecks are important, but, when a person isn’t at home in a culture, they’ll quickly become restless and look for an easy way out.
The key to attracting the second type of person is by selling them on something different than compensation. It becomes more important to sell your culture.
When you promote your company and extol its virtues, what tells your story? Your people, your processes, your product are all critical without question. They drive culture. And, at the end of that story, with dollars and cents being marginal to a lesser degree, your benefits program is the truth serum of your story. That’s right; you can’t talk culture, people, vision, family-oriented, progressive, growth-driven, etc.… and then hand them an old-fashioned insurance and wellness benefits package.
According a 2016 study by Glassdoor, over 50% of job seekers still see benefits and perks as a top consideration. It’s not enough to simply convey a checkbox approach. If you’ve told a compelling story to this point, and your benefits don’t bring a similar message, a job seeker may call your bluff.
So, how do you make benefits an attraction tool?
Here are a few strategies:
Tell your benefits story using mediums that people are used to learning from in the modern age. (think videos, apps, social media sites)
Don’t simply offer one or two similar types of insurance plans with no variety of choice. Consumers want choices, as with any other purchase. Design your benefits in such a way as to offer quality protection and diversity of price to suit lifestyle and medical needs.
Lead with a positive, activity-centric wellness benefit. Building a wellness program that rewards for positive behaviors and motivates people to make healthy changes throughout the course of the year helps not only attract quality people, but will help with retention and motivation as well.
Support people according to their stages of life. Think about your workforce demographics. What do they likely struggle with based on their lifestyle needs, wages, education, etc…? Build a program and support system to provide hands-on assistance without requiring HR to micromanage.
Lastly, become a quality storyteller. In order to successfully sell your benefits to a prospect employee you need to move past the line item pitch. Instead your benefits package needs to become an integrated part your story, of your “why”.
Do this and you’ll be an All-Star. All-Stars attract All-Stars. And they stick together. They don’t leave for an extra $1/hour.
Want to learn more about using your benefits as an attraction tool? Attend our talk at the Wisconsin SHRM conference in October.
Not attending SHRM? No worries, sign up for our mailing list here and get the recording emailed to you after the show.