27 January 2006
Attract and retain
A question to all business leaders. Have you ever stopped to think what you can offer potential employees? If the answer is no, then north-east recruitment specialist Thorpe Molloy Recruitment warns that now is the time to start thinking about the company`s advantages rather than just focusing on candidates` qualities.
Head of the HR division at Thorpe Molloy Recruitment, Claire Hedley, said: "Until recently, the emphasis was always on what candidates had to offer to businesses, and while this id still a vital part of the process, it is now even more crucial that employers carefully consider the package that they offer to employees. This will help to ensure that they not only recruit the right staff, but that they also manage to retain them.
"Attracting and retaining staff is not necessarily about paying the highest salary. Many people are now focused on achieving a healthy work-life balance and are interested in flexible working hours or the choice of having corporate membership of a gym. In addition, there is a growing awareness that we live in an ageing society and people are increasingly conscious of the need to make sure that they are able to provide for their retirement; therefore, for some candidates, one of the most important components of their package will be employer pension contributions."
Employers wanting to make sure they have the pick of the candidates in the marketplace need to ensure that the package they are offering does not exclude potential candidates from the outset.
According to Claire, most remuneration packages are made up of a combination of following components:
- Basic salary.
- Opportunities for salary progression / professional development.
- Flexible working hours / compressed working week.
- Annual leave entitlement.
- Bonus schemes and performance-related pay.
- The benefits package (this will vary, but may include company car / allowance, contributory pension scheme, private healthcare, share schemes, lunch allowance and so on).
- Flexibility to vary working hours and / or work from home.
She said: "Where possible, employers should be flexible in terms of the package they offer to employees. For example, pension contributions will be more important to some employees, whereas others will be more interested in flexible working or the possibility that they might be awarded a bonus.
"Employers should always make sure that potential employees understand the total value of the package that they are being offered rather then just concentrating on the salary figure as this can sometimes make the difference between someone accepting or declining an offer."
The Press and Journal, Friday, 27th January 2006
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