Topic Talent Acquisition,
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When hiring for an organization, many recruiters focus on finding individuals whose skills stand out from a pool of applicants. These talented individuals are also secretly vetting your company for its outstanding qualities. And if you miss the mark, nothing will stop them from knocking on your competitor's doors.
How do you ensure that you attract top-tier candidates from job listings? And yet, an HR department burdened by payroll duties and other operational issues increases your difficulty. But with the right HR outsourcing partner, the following tips ensure that you always attract quality and talented individuals to your organization.
Offer Competitive Benefits
High wages might be fundamental when attracting top-tier talent, but they're not the ultimate deciding factor in a competitive job market. Several surveys reveal higher employee job engagement and satisfaction where employers include non-pay benefits to employees. Indeed, many high-earning employees shift their priorities from pay to other compensation aspects like;
- Healthcare
- Club memberships
- Paid time off
- Flexible working hours
- Telecommuting opportunities
PEOs provide access to their employee benefits schemes purchased by experts using economies of scale. It grants you access to Fortune 500 benefits at a price you can afford. And more talented employees have a reason to join your organization.
Provide Retirement Plans
Retirement plans help you attract and retain employees who are crucial to your organization's success. 401(k) plans are the most common retirement savings plan for many employers. Employees sign up for automatic deductions on their paychecks in exchange for tax breaks, and some employers offer to match their contributions. All savings go to an investment fund chosen by the employee.
But managing employer-sponsored retirement plans is not easy when you're a small or mid-sized enterprise because of high administrative costs. A PEO can help you overcome this challenge through a cost-saving co-sponsored plan. The PEO assumes fiduciary liability, saving you from legal troubles and pools in other organizations to provide a more affordable 401(k) plan.
PEO-sponsored retirement plans guarantee the long-term stability needed to attract top-tier candidates. And pooling funds from different organizations expand their ability to make more profitable investments.
Implement Best-in-Class Safety Program
Workplace safety is an important part of employee attraction and retention. Creating a safe work environment builds trust and makes employees feel valued, inspiring them to deliver their best services. Besides attracting top-tier candidates, workplace health and safety programs unleash the following benefits:
- Enhanced compliance with labor regulations
- Increased employee productivity and overall company profitability
- Reduction in worker compensation claims
- Decreased absenteeism from work-related injuries and illnesses
- Decreased employee turnover
- Enhanced corporate culture
Employers need to evaluate and mitigate potential hazards, entrench a safety culture within the organization, and conduct regular training. PEOs help with workplace risk assessment and safety management. They can help you implement a safety program that offers peace of mind for your workers and ensures that you attract more qualified individuals to your team.
PEOs also offer worker's compensation coverage and claims management solutions. They provide training solutions and offer guidance on OSHA compliance, ensuring that you recruit and retain employees who will help your company grow and prosper.
Protect Your Reputation
Reputation is your biggest asset as a business, and you need to guard it jealously. It defines the expectations of prospective customers and employees when dealing with you. Firms with a strong reputation attract better candidates, and they're perceived to be more stable and profitable.
A company's reputation is an intangible asset that rarely shows up on the balance sheet. Industry practitioners believe that up to 75% of your company's value is intangible reputation value. It is responsible for sustained earnings and future growth, often allowing you to charge a premium for your products.
While it takes years to build a company's reputation, miscalculated recruitment practices can destroy it in minutes. And in a world where social networks have blurred the lines between private and professional lives, one wrong tweet by an employee could dent your reputation. It explains why you need to engage seasoned HR outsourcing experts to help shape HR best practices.
Entrench a Strong Company Culture
What is the first impression that job-seekers get when they research your company? Often, a company's brand reputation is reflected in its corporate culture. Culture defines how things are done in your organization, and it has a direct influence on how employees conduct themselves.
Company culture has tangible aspects like employee dress codes and office layout. And it's present in the shared beliefs, core values, and workplace relations. Great corporate culture will always reflect on your financial books because it boosts employee morale and productivity.
You will struggle with recruitment if your corporate culture doesn't motivate employees to bring their best selves to work. But luckily, culture can be rebuilt. And a culture-first recruitment process ensures that you find candidates who fit into your organizational culture.
Attract Top-Tier Candidates
Often, job-seekers won't hear about your opening until it's posted on a jobs board. But this makes it even harder to find the right candidate from thousands of applications. Ideally, you would want to create a listing that lets candidates determine for themselves whether they're the right fit for the role.
You might already have all the listed tips in place. But partnering with HR outsourcing partners ensures that you package this information in a way that attracts top-tier candidates. Partnering with a reputable HR outsourcing solution brings your benefits on par with employees would get with large companies, making it hard to turn down an offer.
