If hiring or retaining employees is among your 2018 resolutions, but having the budget to beat competitors is not exactly in the books, you can still compete – and win. Surveys and interviews conducted for the 2018 SCALE found that today’s employees often look beyond monetary compensation. Contrary to general perception, there are many similarities between generations, particularly when it comes to members of the workforce. Regardless of age, employees are putting a premium on perks and practices that promote work-life balance, the sense of being valued, and clear career paths.
- Offer Flexible Hours – whether it’s to pursue their passions, or to spend more time with their families (particularly parents looking to curb daycare costs), not being locked in a traditional 9-5 work schedule is a coveted perk. In fact, 73% of surveyed employees ranked flexible hours as highly desirable – some would even go as far as to take a pay cut to have it, but only 37% of employers offer this very appealing, cost-free perk.
- Give Support and Feedback – there’s a lot to be said in having pride in one’s work, but support and feedback means even more for today’s professionals. Who doesn’t enjoy being complimented on a job well done? Just as importantly, knowing that your boss and colleagues have your back, and are there to help you get it right, makes you feel like a valued part of the team. Being generous with praise, providing helpful input, and giving constructive feedback have become the ace up the sleeve of many smart managers looking to attract and retain keepers.
- Define Career Paths – while there will always be merit to “simply doing one’s best,” today’s employees desire defined, quantifiable goals as well as a well-plotted career path. Being very clear about expectations, their roles, and how what they do contributes to the organization is a great way to instill confidence in both prospective and present employees. Our 2018 SCALE provides job descriptions to help you establish what’s expected from the employee, and can aid you, along with resources such as your organizational chart, in outlining career paths for your team.