Last month, I discussed a recent CareerBuilder survey of workers nationwide, which asked them which factors they consider most important when evaluating employers. Below are their answers, in order of importance, and what employers can take away from these findings.
- Compensation: It should come as no surprise that workers prioritize compensation when considering new opportunities and potential employers. This finding underscores the fact that employers need to create a compensation strategy in order to ensure you’re doing right by both your company and your employees when it comes to fair – and competitive – pay.
- Benefits: One way to ensure you’re providing optimal employee benefits is to start with the question, “Are employees using the benefits we offer?” Before you invest in new benefits, survey your employees to see what they’re actually taking advantage of, and if there are some opportunities to replace current benefits with new, desirable ones.
- Advancement: While you might not be able to offer every employee a promotion, you can probably find a way to empower them with the resources to learn new skills and take on bigger responsibilities or more diverse projects. The effort demonstrates your faith in their abilities and your concern for their professional success and career development, which can go a long way in promoting employee productivity and increasing retention.
- Work-Life Balance: “A lot of company cultures are passive aggressive, saying, ‘We care about our people, and we want them to have a work-life balance,’ but there’s an underlying pressure to work a 60- to 70-hour week,” says Matthew Kelly, author of ‘The Myth of the Work-Life Balance’. If this sounds familiar, consider taking stock of your employees’ satisfaction levels and work with them to find where there might be opportunities to provide more flexible work arrangements that work for both them and the company.
- Appreciation by Management: This finding supports the argument that companies that make an effort to recognize their employees have a competitive advantage today, according to Eric Mosley and Derek Irvine, authors of Winning with a Culture of Recognition. “Strategic recognition does not have to be costly,” they told me in an interview last year. “Though it does require investment. By consolidating multiple tactical programs, [companies] can fund a strategic recognition investment.”
While these findings give an overall view of what job seekers want, it’s still important to do further research into the wants and needs of the candidates you’re trying to pull in, which will guide your recruitment strategy, and help you stay competitive in the long run.