Sunday, 28 April 2024
Business

Why salary is no longer the biggest attraction for candidates

Why salary is no longer the biggest attraction for candidates

Of course, salary is a significant factor that will attract candidates to your company, especially with the cost-of-living crisis going on. However, the pandemic has drastically impacted our ways of working as more people are wanting a better work-life balance. 

Other employee benefits are becoming more attractive. Whilst salary does matter, other benefits are becoming more prominent when candidates are searching for the right job role. 

There are other factors to consider in order to attract talent to your organisation. Let’s explore the other ways of attracting candidates to your company. 

1. Flexibility & remote working

With workers getting accustomed to working from home during the pandemic, fewer candidates want to give up the luxury of no commuting, and working from their sofa. Whilst it’s not plausible for all organisations to offer 100% remote working, some kind of flexibility needs to be offered by organisations. 

These felxibilties might include varied work hours, hybrid roles, or working from home when necessary. By demonstrating to candidates that you are flexible, you are far more likely to attract the right talent your way. 

2. Progression Opportunities 

Workers like to know they have the opportunity to progress their career moving forward, they don’t want to feel stuck. If you can demonstrate that the role comes with progression opportunities, offering someone a chance to climb the career ladder, this can massively help attract strong candidates. 

For example, your job description could mention training and development programs that employees would have access to. By showing your candidates that the company is invested in helping them to grow you will attract a good pool of candidates. This helps in providing a sense of job security as well. 

3. Extra perks & benefits

Sometimes it’s the little perks that can help sway candidates towards your organisation. For example, gym memberships could persuade individuals to join your company as it shows you care about their well-being. Glassdoor found that 58% of employees place more emphasis on employee benefits relating to physical and mental well-being.

Furthermore, a friendly perk could be to offer employees their birthday off. Other ideas might be to pay for training courses, this will enhance their skills which will help benefit your company as well as the individual. 

Candidates are likely to be very attracted to your organisation if you offer employee benefits insurance because it can cover critical illness cover, income protection, group dental insurance, and even more factors.

4. Four-day work week

Many companies in the UK have implemented the 4-day work week, aiming to decrease employee burnout levels. Employees are less likely to feel stressed working under this new structure. 

Be one step ahead of your competitors by offering the luxury of a 4-day work week to employees, as this perk would be very attractive to top candidates. 

To conclude

Ultimately, candidates are no longer solely attracted to a company because of the salary offered. Instead, they seek a comprehensive benefits package that offers a healthy work-life balance. 

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