Feeling the pressure of retaining your organization’s top performers and filling open positions with the best candidates on the market? You’re not alone. According to a recent Labor Department report, an estimated 4.5 million people resigned from their jobs in November – a staggering 3% of the total US workforce. And many economists are forecasting that trend to continue throughout 2022.
This leaves many wondering… how can I attract top talent and prevent our company’s best from leaving? Here are a few tips to help you deliver in both areas.
Sculpt a Diverse, Competitive Benefits Package
As you know, the first thing many job seekers consider when looking at potential employers is usually obvious – salary. But one tool gives you an edge up on the competition – the value of your total compensation package. This can include an impressive benefits package, which can help you attract some of the best free agents on the market.
A major medical expense can put even the highest earners in a compromised financial situation. In fact, a 2021 US Census Bureau report noted 19% of all US households are not prepared to pay for medical care right away. This doesn’t necessarily mean these individuals and families can’t be prepared, they may not know the tools and resources at their disposal to prepare for these situations. This is where video can play a huge role.
You are probably already adding to your voluntary benefits offering with things like an employee assistance program (EAP), hospital indemnity and critical illness insurance, and even identity theft protection, home and auto insurance. But what is the value of an incredible total compensation package if no one knows how to utilize it? Communicating the value of what your company has to offer with video is key. Standing up microsites with helpful videos and documentation highlights the complete benefits package that your organization offers, helping attract potential recruits to fill those open positions.
The same can be said for your existing workforce. A comprehensive benefits portal with video communications and plan details not only outlines your total compensation package, but also encourages employees to utilize what is available to them, driving adoption and year-round engagement with their benefits. Video is also an important difference maker when it comes to decision support, ensuring employees are enrolled in the plans that best fit their needs.
Communicating your cutting-edge benefits package will not only enhance your total compensation package offering, it will also be a key factor for job seekers when considering their next employer.
Evaluate Your Workforce’s Work/Life Balance
An underrated quality of a meaningful place to work is the balance offered between professional and personal life. At this point, you understand happier employees are typically more productive during their work-focused time.
Things like flexible scheduling, work from home options (WFH), paid and/or personal time off (PTO), mental health benefits, financial perks, and a casual and fun office environment can entice great candidates to seriously consider you company.
You may be thinking… we already offer many of these perks, how can we stand out from the pack? Consider enhancing your internal communications with customized videos detailing the perks your company offers. Not only will this bring attention to a major difference maker for your organization, it motivates your workforce to engage and interact with their benefits year round.
Having more time to focus on wellbeing and mental health can be a real game-changer for candidates and makes a big difference in attracting talent and keeping your current workforce happy. Utilizing video to feature these key benefits to candidates and current employees is the best way to highlight your total compensation package.
Offer Opportunities for Ongoing Education and Career Advancement
Another place you are likely focusing on is ongoing education and career advancement opportunities. These options are a critical decision point for candidates when considering an offer from your organization.
A recent Springtide Research Institute study highlights the importance young adults place on mentorship, meaning, and growth in their career journeys. Surprisingly, 70% believe work is not worth doing if it isn’t meaningful to them and a whopping 86% say it is important that current or future supervisors offer them opportunities to grow.
But this doesn’t apply to Gen Z exclusively. A Deloitte study suggests older employees will likely need some level of ongoing training to help them be fully prepared for a new or shifting role in the company. One of the best strategies for achieving this is the opportunity for continued career and skill development.
A great way to maximize this offering is by creating a series of videos, helping your workforce improve and add to their skillset. These educational video modules not only save your organization valuable time, they also allow employees the flexibility to learn and grow at their own pace.
Communicating through video will help your current workforce and prospective candidates feel empowered and show that you are investing in their professional future. Make it easy for them to learn new skills, network with others who have similar interests, and enhance their personal repertoire while you separate your company from the pack.
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MuleTown Media helps businesses streamline their HR, Benefits, and Internal Communications through the power of video, making life easier for Human Resources and Benefits Teams. Contact us today to discuss how we can partner together to ease your burden and make a meaningful impact at your organization.
