Become an Employee Magnet by Proper Channeling of Total Value for Employees
Proper communication total compensation packages and benefits is necessary to keep the employees morale. Off course, it’s not possible to offer raise all the time, but letting them understand financial security offered can present you as employee. In the modern time the war for talent is at full fledge and a little mistake can gamble your best manpower asset. Of worse, the risk of turnover is always there, so you must put best efforts to let employees understand why you are a good place to work.
Dynamic work environment, employee-friendly work culture, value-added services and facilities can boost employer’s value on the top of payroll benefits.
Value Added Services to Increase Financial Security
From health insurance to dependent care benefits, there are many things that you do without increasing on paper salaries. More upon it, the priority services to access financial counselor can help employees save more. Many times, people don’t even know how start investing for future and this kind of guidance can actually clear their doubts. Hiring a licensed professional for the same and offering services at reduced cost or free is a worth to try shot.
Make Them Feel Free From Financial Worries from The Recruitment And Selection Step
Money is the prime reason for causing stress among employees. When they are in stress, they can’t provide best performances. Hence, it is clear that to make them work for you in the best shape of mind and body, as an employer you need to free them from financial worries. Financial distractions need to be sidelined properly to increase productivity of employees. Furthermore, financial guidance is the most likely offering that millennial generation tends to look in employers of GenX.
Well being of employees is only possible when they are cheerful to work and it is not all about giving them a good raise. Truly, the total compensation is the prime factor for accepting a job offer most of the time. However, additional facilities of food, cab, job security, insurance and healthcare are also important point. Just make sure employees get proper understanding of their total benefits package from the recruitment and selection phase.
Everyone loves to feel they are valued. This feeling of ‘taken care’ has natural power to establish ling term connections. Similarly, in professional world if as an employer you are successful to make them employees feel valued, you are automatically entitled to gain loyal employees. Financial security and benefits are prime concerns for employees. By taking care of these basics you can retain staff and reduce employee turnover naturally. Critically, you must work on transmitting your concerns for employee financial wellness timely and properly from the initial phase of recruitment and selection.