More than 47 million people quit their jobs in 2021, according to the Bureau of Labor Statistics, making for one of the tightest labor markets in history. As such, employers in all industries are looking for better ways to attract candidates. PeopleReady shares the five most common incentives that employers are offering to job seekers.
- Providing flexible schedules
- Evaluating compensation
- Expanding health and wellness programs
- Creating career advancement opportunities
- Offering rewards and recognition
Flexible scheduling improves work-life balance
Many employers have adopted flexible scheduling like on-demand shifts or self-directed hours to allow workers to coordinate child care, schedule personal appointments, or take classes while also maintaining employment. As a result, these workers can still be an active part of the workforce. Another thing to consider: Depending on your needs, you can also hire temporary workers to fill in during your busy seasons.
Evaluating compensation options can help employers stay competitive
Pandemic-related recession and record inflation have driven prices up, with many middle and lower-class workers experiencing financial difficulties. Low wages were also a major catalyst for the Great Resignation. According to Payscale, 92% of employers are expected to give pay increases in 2022 to attract new workers and retain their current staff. This figure is up from 85% in 2021 and 67% in 2020, highlighting the importance of proper compensation in attracting new workers and entice more experienced ones to return to your industry.
Check out PeopleReady’s summary and analysis of local and state minimum wage laws for 2023.
Health and wellness are now a priority for many people
Individual healthcare plans are still expensive for many families. Offering insurance to your employees can be a differentiator that attracts candidates and encourages them to stay in the long term. However, if providing insurance is not an option, consider a wellness program that includes:
- Accident prevention
- Gym memberships
- Immunizations and flu shots
- Medical screenings
- Stress management counseling
These different benefits can be standalone options or provided as part of an encompassing assistance program.
Career advancement opportunities increase retention rates
According to SHRM, 40% of workers worry that their skills will become outdated as industries embrace advanced equipment and automation. In turn, they’re less likely to take a position that doesn’t offer advancement opportunities or a means to expand their skills. By offering career development training programs or certification courses, your workers will see that they can move up the ladder, which builds loyalty and, ultimately, business success.
Rewards and recognition are a long-term investment
More blue-collar job postings are listing sign-on bonuses to help attract new workers. Some businesses offer an extra amount after the employee has stayed with the company for an agreed-upon period. However, bonuses may not be a one-time cash offer. Depending on your budget, you can provide paid vacation, reimbursement for training courses, gift cards or childcare assistance for working parents.
How to attract candidates and find staffing solutions quickly
At PeopleReady, our temp staffing experts support your entire interviewing and onboarding process. As a result, you can attract top candidates and add to your workforce quickly. Plus, our JobStack app gives you 24/7 access to candidates who are available to work and can add to your current workforce.
